The $1.4 billion Asset Super has overhauled its international equity manager line-up, assigning four new mandates in a portfolio of six names.

AllianceBernstein and Franklin Templeton are the survivors from the industry fund’s review of its $230 million international equities portfolio, in which its asset consultant, Mercer, put forward its most highly-rated managers.

The managers introduced to the portfolio were Martin Currie, Lazard and Schroders, which won two mandates. Only active managers were chosen; the portfolio holds no passive managers.

The managers that were shown the door were Altrinsic Global Advisors, which lost a $25 million mandate; Capital National Alliance, which lost $59 million; Marvin & Palmer, which lost $23 million; State Street Global Advisors, which lost $92 million; Walter Scott & Partners, whoichlost $35 million, and Wellington International Management, which had $22 million pulled.

Stephanie Weston of Mercer, the fund’s primary asset consulting contact, oversaw the changes, while Mercer Sentinel conducted the mandate transitions.

The determining factor used to select managers was Mercer’s judgment of their skill, John Paul, chief executive of Asset Super, said.

“Mercer’s view was that they had higher-quality managers. [Asset switched asset consultants from Intech to Mercer last June.]  They apply different investment themes, but they are basically Mercer’s highest-rated managers,” Paul said.

The next portfolio of the fund to undergo review would be property, he added.

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