Government Employees Super Board, Perth, Australia, awarded three new mandates to active international equities managers.
The A$8 billion (US$7.2 billion) public sector fund appointed Fidelity, Edinburgh Partners and Sarasin & Partners to its A$2 billion international equities portfolio.
Sharon Hicks, GESB’s chief investment officer, would not reveal the size of the mandates, but said: “If we are going to introduce a manager into a portfolio, they’re coming in for material changes.”
The three new managers joined GMO, Lazard, Genesis Investment Management, Newton Investment Management and SSgA in the international equities portfolio.
In GESB’s 2008 annual report, AllianceBernstein was included in the international roster but has since been struck off.
Mercer is the fund’s consultant.
Simon Mumme is a reporter with Investment & Technology, Sydney.