CareSuper has awarded a $50 million mandate to the ISPT retail Australia Property Trust.
Chief executive Julie Lander said it was an expansion of its property allocation.
The industry fund has also brokered a fresh emerging markets mandate for $50 million with an as-yet-unnamed fund manager.
Lander said CareSuper's current emerging markets fund manager, Colonial First State, had closed its fund to new money, prompting the new investment deal.
The industry fund has a comparatively lower allocation to Australian shares than other funds, according to Lander, with its Australian equities target allocation set at 22 per cent compared with international equities at 24 per cent.
The super fund has also fitted out its board, appointing three new directors; Julie Bignell, nominated by Australian Services Union; Monica Clavijo, nominated by the Unions NSW; and Mark Sibree, nominated by the Victorian Employers' Chamber of Commerce and Industry.
The asset manager is bolstering its investments in the global energy transition and climate opportunities.
The ethical investment manager has reported record FUM as its growth trajectory continues apace.
The chief investment officers of UniSuper, HESTA, and TelstraSuper have elaborated on opportunities and risks that are top of mind when it comes to illiquid assets like private credit within their portfolios.
In an address to the National Press Club last week, the incoming chair of Australia’s sovereign wealth fund said institutional investors could play a role in the winding road towards net zero.
Add new comment