Commonwealth Bank of Australia Group Superannuation Fund, Sydney, hired Ardevora Asset Management to run A$200 million ($156.2 million) in global equities, a spokesman said.
The A$9.5 billion superannuation fund hired Ardevora as part of a change to the fund’s international manager lineup, the spokesman said in an e-mail. He did not specify the former manager of the fund.
The spokesman said the hire followed a search process conducted by the trustee of the fund, alongside its investment consultant. The search began in early 2014.
Ardevora, an equities money manager with US$1.5 billion in assets under management, has an investment process grounded in cognitive psychology, according to its website.