Energy Super and Intrust Super invested a combined A$100 million (US$98.89 million) in an emerging markets equity strategy run by global funds manager Neuberger Berman.
The funds, both based in Brisbane, Australia, are the seed investors in an emerging markets unit trust launched by Neuberger Berman in Australia, according to a statement.
Bob Henricks, chairman of the A$3.8 billion Energy Super, said the fund’s A$60 million investment in the strategy is its largest exposure to emerging markets.
The fund is already invested in an Asia ex-Japan strategy managed by T. Rowe Price and an emerging markets fund run by Martin Currie.
Neuberger Berman replaces the emerging markets strategy run by the Future Directions Funds, the multimanager business of AMP Capital Investors, in Energy Super’s portfolio.
Simon Mumme writes for HREF="http://www.investmenttechnology.com.au/index.php" TARGET="_blank"> I&T Newsin Sydney.