VicSuper has awarded Carnegie Asset Management (CAM) a $240 million global equities mandate.

VicSuper's chief executive, Michael Dundon, said Carnegie would play a key role as an active satellite in their global equities core/ satellite portfolio structure.

"We believe Carnegie's solid investment approach which is based on a concentrated, mega cap portfolio, will add consistent value to our members' investment returns," Dundon said.

CAM's managing director and portfolio manager, Bo Knudsen, said: "We appreciate their confidence in awarding this mandate to CAM and we look forward to further building our relationship in the future".

CAM has $17 billion in total assets under management as at 30 June 2016 and is BNP Paribas Investment Partners' global growth equity partner.