UniSuper, Melbourne, Australia, hired Fidelity International, Acadian Asset Management and Arrowstreet Capital to each run A$180 million (US$152 million) in active international small-cap equities, according to a spokesman at the A$23 billion fund.
The mandates represent 12%, or about A$2.76 billion, of the fund’s global equity portfolio.
“These investments are designed to increase UniSuper’s exposure to the global small-cap sector and are in line with UniSuper’s investment strategy,” the spokesman said. “The changes were made as part of the ongoing development of the portfolio.”
Neither Terry McCredden, CEO, nor John Pearce, CIO, were available for comment.
Kristen Paech is a reporter at Investment & Technology