Government Employees Superannuation Board, Perth, Australia, hired JANA Investment Advisers as the A$17 billion (US$15.4 billion) superannuation fund's investment consultant, confirmed spokeswoman Jennifer McGrath.
Mercer previously served as GESB's consultant. Ms. McGrath said the switch did not represent a change in GESB's investment strategy. Mercer, meanwhile, will continue to “provide actuarial advice,” she added.
Asked why the switch was made, Ms. McGrath said GESB “is unable to provide wider comment.”