Perpetual Investments has been awarded a $300 million mandate by State Super Financial Services to manage part of its enhanced cash portfolio.
Perpetual Investments’ credit and fixed income team, headed by Michael Korber, currently manages $3.3 billion in assets across its range of enhanced cash strategies.
General manager of institutional business at Perpetual Investments Warwick Boys said the mandate served as an acknowledgement of the strength of its team.
He said it confirmed the appetite for enhanced cash offerings within institutional portfolios.
“We are delighted to have been awarded this mandate by State Super Financial Services. It shows our commitment to partnering with institutions to provide tailored solutions which will meet their objectives,” Boys said.
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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