Hostplus, Carlton South, Australia, added A$100 million (US$106 million) to an Australian stocks portfolio run by Industry Funds Management, the fund manager owned by 32 Australian superannuation funds.
Hostplus, the A$9.2 billion superannuation fund for the Australian Hotels Association, had given IFM A$30 million two years ago to invest in Australian stocks.
IFM manages about A$29 billion for Australian and international investors. It invests in stocks, private equity, infrastructure and debt.
Brett Cole writes for I&T News, Sydney.