The $9 billion Telstra Super has shaken up its global equities portfolio, including with the award of a $115 million mandate free of country or sector constraints.
Product and staff rationalisation is an expected by-product of the acquisition of Barclays Global Investors by BlackRock, which would see the creation of the world’s biggest fund manager with assets under management of more than US$2.7 trillion.
As part of ongoing efforts to align its investments and ethical views, the $450 million Christian Super has terminated a mandate and brought 25 per cent of its fixed interest portfolio in-house, while also setting up an internal call centre.
With more mergers between super funds tipped for the next few years due to action on capital gains tax relief, NAB Custodian Services and KPMG are presenting a timely case study with Maritime Super, the result of the merger between SERF and Seafarers’ super funds.
Aberdeen Asset Management (Australia) chief executive, Bill Bovingdon, intends to continue in his dual role running Australian fixed income even when the size of his business trebles, assuming the April 30 completion of the assets-for-equity swap with Credit Suisse’s investment arm.
FuturePlus, the investment manager for the Energy Industries Super Scheme and Chifley Financial Services, has attracted the head of investments for a $12 billion fund as its new CIO.