Tasplan, a A$7.6 billion ($5.7 billion) member-owned superannuation fund based in Hobart, Tasmania, hired IFM Investors to manage A$670 million in actively managed Australian core equities, confirmed Tasplan spokeswoman Lisa Free.
The allocation came in the wake of a restructuring of Tasmania’s public employee retirement system, which included the transfer of roughly A$4 billion under the RBF Tasmanian Accumulation Scheme to Tasplan as of April 1.
Ms. Free didn’t immediately have details regarding which firm had previously managed the assets awarded to IFM.
