Five Oceans Asset Management has picked up a $150 million global equity mandate with Local Government Super.
This comes after Catholic Super recently invested $80 million in the Five Oceans World Fund earlier in the year.
Local Government Super chief executive Peter Lambert said Five Oceans had been awarded the mandate based on having a strong investment process, a good track record and an awareness of responsible investing.
Five Oceans also recently took out the Global Equities (Long Short) category in the 2011 Money Management/Lonsec Fund Manager of the Year Awards — the sister publication of Super Review.
Investors have slashed their US equity allocations to the lowest level on record, according to new data from Bank of America.
The message from experts in international trade and economists is that the Australian government should refrain from retaliating with reciprocal tariffs.
The market correction forecast by AMP’s chief economist is in full swing, with three weeks of turbulence culminating in significant losses on Tuesday.
Following a strong risk appetite in January, institutional investors have pulled back in February, with risk-seeking activity dropping to zero amid a decline in equity allocations.