QIC starts emerging markets multimanager fund

The A$80 billion (US$75.4 billion) Queensland Investment Corp. has created an emerging markets multimanager trust and seeded it with A$130 million, according to Investment & Technology newspaper. The fund has segregated mandates with three underlying managers implementing different strategies: closed-end fund arbitrage; fundamental stock selection; and a country-focused, top-down quantitative manager. Greg Clarke, director of international implemented equities at QIC, said the fund aims to provide “a diversified entry point into emerging markets.” He declined to name the managers.