AustralianSuper hired Henderson Global Investors to advise the A$60 billion (US$56.6 billion) Melbourne-based superannuation fund on its plans to make direct investments in U.K. retail properties.
In a telephone interview, Susan Fairley, a spokeswoman for the fund, declined to say how much money AustralianSuper is asking Henderson to invest, noting such details can amount to competitive intelligence.
While the superannuation fund's current portfolio investments of A$4.6 billion in real estate have predominantly been made through commingled funds, Ms. Fairley said AustralianSuper has achieved a scale where it can begin relying more on direct investments.
Ms. Fairley said the direct investment program is part of a broader strategy announced last September to build the superannuation fund's internal management capabilities in pursuit of reduced costs and better net performance.
In a news release from Henderson, the manager of £68.9 billion ($107.1 billion) in assets under management, noted 60% of its £12.7 billion in property investments have been made in the retail sector.
In the release, Myles White, Henderson's director of property, retail, said, “Our experience investing into prime malls across U.K. and Europe … gives Henderson the ability to identify and source the best stock to meet the requirements of AustralianSuper.”