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Pengana takes $50 million allocation from AUSCOAL
Pengana Capital’s global volatility fund has won a $50 million allocation from industry superannuation fund AUSCOAL.
Pengana chief executive Russel Pillemer said it was a sound acquisition for the company’s strategy.
“With the investment markets undergoing unprecedented levels of volatility, the Pengana global volatility fund, being uncorrelated with other asset classes, is well placed to perform well in this difficult environment,” he said.
The AUSCOAL investment team carried out months of due diligence with Pengana before choosing the global volatility fund.
The fund has more than $600 million in funds under management.
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