Skandia Investment Group has awarded a $350 million global equities mandate to Sydney-based Five Oceans Asset Management.
Five Oceans takes over the mandate from JP Morgan Asset Management.
Skandia head of investment research Adam Smears said Five Oceans was chosen due to its high conviction approach, which involves holding a portfolio of 50 core stocks to manage risk over the long term.
Five Oceans' use of derivatives and hedging strategies was also a factor in Skandia's decision, said Smears - as was the fund manager's consideration of environmental, social and corporate governance issues in its research.
"Five Oceans Asset Management is an experienced firm that delivers outperformance beyond the broader markets by having an absolute return mindset," said Smears.
Five Oceans chief executive Ross Youngman said that Skandia Global Equity Fund would be managed in a similar manner to the Five Oceans World Fund, "which has outperformed the MSCI World Index by over 5 per cent annualised after fees, since inception in 2006, as well as in each calendar year".
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
All merger proposals will have to be approved by the consumer watchdog under the sweeping merger reforms announced by the government on Wednesday.
Add new comment