Industry funds-backed IFM Investors has broken ground on support for its recently-launched global index strategy.
The fund manager announced today that it had received its first mandate for the strategy with $500 million received in-specie from HESTA.
The global indexed equity strategy is the result of extensive collaboration between IFM Investors and its Australian clients, and chief executive Brett Himbury said the new mandate with HESTA is a significant milestone for IFM Investors.
"In a competitive landscape, the launch of a robust, cost-effective global indexed equity strategy demonstrates our clients' willingness to engage with IFM Investors in product development," he said.
Commenting on the mandate, HESTA chief investment officer, Rob Fowler said Australian superannuation funds increasingly required access to bespoke global equity capabilities.
"We believe IFM Investors' long-term focus will continue to benefit our members," he said.
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
Brighter Super is considerably scaling down the investment options it offers members in order to reduce costs.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
Add new comment