POWERED BY MOMENTUM MEDIA
VicSuper awards $100m mandate to Payden and Rygel
Victorian industry super fund VicSuper has given a $100 million mandate to global fixed interest manager Payden and Rygel (P&R) to manage an absolute return investment portfolio.
It is the second mandate awarded to Payden and Rygel after an initial $110 million mandate in 2012.
The mandate will be part of the fund's alternatives strategy.
VicSuper's chief investment officer Oscar Fabian said the portfolio is a combination of ideas from P&R's underlying specialist sector teams.
"The debt portion of our fund continues to perform well. We believe however, that the current economic conditions will inevitably lead the Federal Reserve to raise interest rates," Fabian said.
"The introduction of this new mandate with its shorter duration ensures that our fund is well positioned when they do."
The P&R absolute return strategy is looking at gross returns of 2.5 per cent above the three month AFMA Bank Bill Swap Rate over the medium term through a wide range of global fixed interest investments and active management of portfolio duration.
The 2012 mandate, which currently stands at over $300 million, was to manage a portfolio of diversified global fixed interest assets comprising a mix of investment grade bonds, high yield and emerging market debt.
Recommended for you
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
