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Aurora awarded $30m mandate from Media Super
Aurora Funds Limited (Aurora) has announced that it has been awarded a $30 million mandate from Media Super into the Aurora Fortitude Absolute Return Strategy (AFARS).
Head of Aurora John Corr said the strategy had attracted interest from a number of other institutions.
"We believe our strategy offers investors an opportunity to take advantage of what could be a prolonged period of high volatility," said Corr.
AFARS focuses on extracting alpha from the Australian equity market through a range of processes, including merger arbitrage, convergence trades, and option strategies, Aurora said in its announcement.
"We believe the alpha generation is sustainable over time and is the right investment for these periods of heightened volatility," said Media Super CIO, Dr Jon Glass.
"The fund manager has demonstrated their ability to produce steady returns in volatile markets over a long time."
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