Catholic Superannuation Fund, Melbourne, hired international equity managers Pzena Investment Management, Generation Investment Management and Taube Hodson Stonex to run a combined A$120 million (US$103 million), according to Investment & Technology newspaper.
Pzena will run a value portfolio; Generation, growth; and Taube Hodson, thematic core growth, said William Currey, investment officer at the A$3 billion fund.
BGI hasnt done too badly, but we tend to prefer smaller boutiques to large firms, he said. We are hoping to get better performance, despite the fact they may be a bit more expensive.
Separately, the fund hired JANA Investment Advisers as asset consultant, effective in November. Incumbent Mercer had been the funds only consultant, according to fund CEO Frank Pegan. He said that after a long relationship with Mercer, it was simply time for a change and a fresh set of views.