Sunsuper terminated an A$1.3 billion ($1.13 billion) international equities mandate with AMP Capital Investors, and split the money among five managers.
The assets had been invested in AMP Capital’s core international equities fund, a multimanager offering.
David Hartley, chief investment officer at the A$15 billion super fund in Brisbane, Australia, confirmed the assets were invested in mandates of “roughly equal” size with Baillie Gifford; Taube Hodson Stonex Partners; GMO; Lazard; and Tweedy, Browne.
“When we didn’t have much money, we were pooling ourselves … to get benefits of scale,” Mr. Hartley said. “Now we’re a lot bigger than what we were and are getting a more tailored approach.”
Sunsuper still invests in the multimanager’s emerging markets and “extended markets” funds.
Separately, the fund added another mandate in its alternatives portfolio by investing A$50 million in Anchorage Capital, a distressed debt manager. Alternatives consultant Sovereign Investment Research assisted in that hire.
Simon Mumme is a reporter with Investment & Technology in Sydney.
