POWERED BY MOMENTUM MEDIA
Energy Super takes power back in international mandate shuffle
Energy Super has taken direct control of its international equities portfolio, after reallocating $700 million in mandates to four new managers and away from AMP Capital.
AMP Capital will continue to manage its socially responsible investments portfolio while Harding Loevner, Longview Partners, Sands Capital Management and Schroders will step in to take over management of its international equities.
Schroders already had a hand in the $4.6 billion industry funds' foreign stock holdings as a manager under AMP Capital.
The appointment will provide direct mandate and control, lower fees and more diversification, the fund said.
According to Energy Super chief executive Robyn Petrou, the fund has reached a scale where it was appropriate to take ownership of direct mandates.
"This is because this has the potential to deliver better control over the investment strategy, cost savings and after-tax outcomes, while still keeping the style and asset allocation required," she said.
"At the most fundamental level, Energy Super seeks to work with experienced, cost-effective and prudent investment managers who can help us maximise returns to members."
The fund has 49,000 members across Australia.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.63 3 y p.a(%)
3
Fidante Credit Suisse Global Private Equity
32.16 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
5
Plato Global Alpha A
27.76 3 y p.a(%)
