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REST announces new mandates
Big retail industry superannuation fund REST has announced a series of new mandates.
The fund said during the December quarter it had invested $150 million with Credit Suisse in its Syndicated Loan Fund and $100 million with Stone Tower in the fund manager's Offshore Credit Fund, while in February it had invested an additional $50 million with Stone Power.
REST chief executive Damian Hill said funding of the investments had come from REST's cash flow.
"These investments present the prospect for attractive equity-like returns for our members over a three to five-year timeframe," he said.
Hill said consistent with REST's philosophy, the investment was being undertaken as part of a diversified portfolio of exposures to the credit markets within the growth alternatives sector.
AUTHOR
Mike Taylor
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