legalsuper has swapped out five investment managers for six incoming managers, it announced on Monday.
After a 12 month review across its major asset classes conducted with its asset consultant Tower Watson, legalsuper said the review provided opportunities to secure savings in investment manager fees.
"We changed asset consultant in April 2013 and since then have been methodically reviewing all aspects of legalsuper's investment arrangements," legalsuper chief executive, Andrew Proebstl, said.
"These changes in investment managers refine legalsuper's for continued strong performance over the longer term."
legalsuper's incoming managers are:
- Colonial First State (cash and enhanced cash)
- QIC Inflation Plus Fund (fixed interest)
- Hyperion (Australian equities)
- American Century (overseas equities)
- Sanders (overseas equities)
- Schroders (emerging market equities)