Industry super fund, NGS Super, has awarded a $300 million global equity mandate to Bell Asset Management (BAM).
NGS chief executive, Anthony Rodwell-Ball, said Bell's emphasis on capital protection and history of minimisation of drawdowns in bear markets was a compelling reason to appoint them.
"Bell Asset Management's investment approach, proven track record over 13 years and the ability to deliver consistent levels of alpha over differing market cycles was a stand-out factor during a recent review of our global equities portfolio," Rodwell-Ball said.
Also commenting on the mandate, Bell's managing director, Rob Sullivan, said: "We look forward to building a strong and long partnership with NGS Super and delivering the best results we possibly can to its members".
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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