Global listed real estate boutique fund manager Presima will manage a portion of MLC's global property securities strategy after being awarded a "significant mandate", MLC has announced.
The strategy is included in several MLC funds, which have more than $27.2 billion in funds under management.
MLC chief investment officer, Jonathan Armitage said the boutique fund manager's track record of delivering above benchmark returns over the past five years when other property managers had lagged supported its research and decision to appoint Presima.
Its investment approach complimented other managers it had in its global property security strategy, according to Armitage.
Newly appointed Presima chief executive, Peter Zabierek said the mandate was testament to the quality of its team and robustness of investment process.
"This is one of a number of opportunities we currently have in the pipeline and is further evidence of our credentials as a proven global REIT manager," he said.
National Australia Bank's direct asset management business purchased Canadian-based fund manager, Presima in April 2010.
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.
While some superannuation funds have gone down the route of internalisation, others say they favour ‘smart partnering’ with external managers for diversification appeal.
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