CareSuper, Melbourne, Australia, hired Schroder Investment Management to run A$200 million (US$194.7 million) in Australian equities.
The A$4 billion plan will fund the hire by terminating the portfolio’s previous manager, 452 Capital, after most of its executives left earlier this year.
Greg Nolan, CareSuper’s chief investment officer, said the new mandate has a similar bias to quality and value as that which it is replacing.
Michael Bailey is editor of I&T News, Sydney.
