LGS awards SSgA mandate
Local Government Super has awarded a $780 million active Australian equities mandate to State Street Global Advisers (SSgA).
LGS chief investment officer Craig Turnbull said its asset consultant JANA had identified an opportunity to increase the targeted return through taking on more active risk.
"Based on the success of our long-term relationship with SSgA we are happy to expand the partnership to incorporate active Australian equities," he said.
"SSgA's portfolio is customised to conform with our environmental, social and governance investment principles and will exclude stocks from industries such as uranium mining, gambling, armaments and tobacco."
SSgA head of active Australian equities Olivia Engel said it had worked with LGS over a number of years across asset classes.
"The solution for LGS represents the growing client demand for smarter equity mandate design, including more explicit budgeting of risk and return and addressing the prevalence of portfolio redundancy in traditional equity portfolios," she said.
The fund awarded $90 million to Hermes last year to provide an ESG overlay to its international equities portfolio.
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
The central bank has announced the official cash rate decision for its November monetary policy meeting.
Australia’s maturing superannuation system delivers higher balances, fewer duplicate accounts and growing female asset share, but gaps and adequacy challenges remain.
Global volatility and offshore exposure have driven super funds to build US-dollar liquidity buffers, a new BNY paper has found.
Less than two in five Australians are confident they will have sufficient assets to retire and almost three-quarters admit they need to pay greater attention to their balance, according to ART research.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
