Mercer, in its capacity as a provider of outsourced CIO services to Australian institutional investors, hired Acadian Asset Management (Australia) to manage a socially responsible investment-focused Australian equities strategy, said a Mercer spokeswoman.
In an e-mail, Andrew Hair, the chief executive of Acadian (Australia), declined to say exactly how big Mercer’s initial allocation to the strategy is, beyond noting that it will “grow as their fund grows.”
He said it is Acadian’s first dedicated ESG allocation in Australia.
Acadian manages A$5.5 billion ($4.2 billion) for Australian clients, noted Mr. Hair. Of that total, the Sydney-based firm’s investment team manages A$1.7 billion in Australian equities for local clients.