Global equities boutique Five Oceans Asset Management has gained a $150 million mandate from a NSW superannuation fund.

Peter Lambert, CEO of Local Government Super (LGS), said the $6 billion fund awarded the mandate because it was confident in Five Oceans’ investment team and process, and its awareness of the impact of sustainability risks on stock prices.

Ross Youngman

The investment follows Catholic Super’s $80 million investment in the manager’s World Fund earlier this year, and brings Five Oceans’ total funds under management to $500 million.

Ross Youngman, CEO of Five Oceans, said the mandate would follow the same strategy deployed by the World Fund, but also deliver specifications set by LGS.

The mandate will be managed by CIO Chris Selth and Kim Tracey, portfolio manager of Five Oceans 130:30 global equities fund, Youngman said.

It will invest in between 60-70 stocks across global markets and not be guided by the benchmark MSCI World index.

Meanwhile, interest from European investors has spurred Five Oceans to seriously consider opening a sales office in London in next year.

Youngman said European institutions were interested in the manager’s moderately concentrated approach and focus on sustainability risks.

The manager’s positive rating from Mercer Investment Consulting, which advises LGS, would make it easier to begin conversations with European clients of the global consultant, he said.

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