The A$660 million (US$464 million) ConnectSuper, Melbourne, Australia, restructured its fixed-income portfolio to assign two new mandates.
Credit Suisse will run A$10 million in a syndicated loans product, while Principal Global Investors will handle A$10 million in a strategic global income fund, as reported by Investment & Technology newspaper.
Funding will come from reducing Credit Suisses diversified fixed-income portfolio to A$41 million.
We see some real opportunities in credit markets. Both new positions should give us a little more octane in our credit portfolio, said CEO Sean Leonard.