Tasmanian-based industry fund Tasplan has made an adjustment to its investment strategy, responding to concerns by its investment consultant Mercer that it is overweight Australian equities.
Tasplan investment manager Mark Williams said the fund had launched notice with AMP that it would be diversifying out of the AMP Infrastructure Equity Fund. The super fund has begun its search for a global infrastructure manager.
"Mercer will provide a recommendation at the next board meeting for a manager. They've narrowed it down to a short-list of managers based on their research, and then we'll select a manager based on that," Williams said.
Tasplan will remain invested in the IFM Australian Infrastructure Fund, which is concentrated in Pacific Hydro, he added.
AAS will continue to provide Tasplan with administration services, after a new five-year contract was signed effective 1 April 2011, according to Tasplan chief executive Neil Cassidy.
When it came to member engagement, Cassidy said Tasplan's social media strategy was "well ahead of everyone else in the industry".
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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