Australia’s HESTA picks Robeco for global value factor equities

HESTA, the A$37 billion ($27.3 billion) superannuation fund for Australia’s health and community services sector, hired Robeco to actively manage a global value factor equity strategy.

A HESTA spokesman and a Robeco spokeswoman declined to give the amount of the allocation, but a Robeco news release Tuesday described it as “substantial.”

Debby Blakey, HESTA’s CEO, said in the release her fund sees Robeco’s strategies as a cost-effective way to access factor risk premiums. The latest allocation is HESTA’s second for Robeco, after hiring the firm in 2015 to run a low-volatility strategy.