VicSuper has awarded almost $1 billion in mandates to five Australian equities managers.
AllianceBernstein, Perpetual, Tribeca Investment Partners and SG Hiscock were awarded $165 million each while Vinva received $330 million.
The super fund said the appointments were part of a strategic investment review that had been underway for 18 months and resulted in drawdowns from its BlackRock and SSgA investments.
VicSuper targeted highly active benchmark unaware managers to populate its satellites, which hold approximately 40 per cent of its Australian equities.
"We're pleased to add the expertise and diversity of this range of managers in order to further strengthen fund performance and achieve the best possible outcome for our members," said VicSuper's chief investment officer Oscar Fabian.
"Also, in line with our commitment to sustainability, all of the newly appointed managers integrate environmental, social and governance (ESG) factors into their investment process."
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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