Optimix awarded A$100 million (US$86.7 million) to Amundi Asset Management as part of recent changes to its international equities portfolio.
The multimanager business of ING Investment Management appointed Amundi to run an options-based, non-directional volatility strategy, which should hedge the volatility of global equity markets, said Emmanuel Calligeris, chief investment officer of Optimix.
Optimix recently sacked AllianceBernstein, Franklin Templeton and Capital International from its A$2 billion international equities portfolio, while hiring Real Index and Aberdeen. Investec and MFS also share in managing the portfolio.
Simon Mumme is a reporter with Investment & Technology in Sydney.