Funds SA selects JANA Investment Advisers as investment consultant

Funds SA, the A$30 billion ($24 billion) investment arm for South Australian public-sector superannuation, insurance and endowment fund assets, hired JANA Investment Advisers as its investment consultant, according to an announcement Tuesday by the Adelaide-based firm.

A Funds SA news release said JANA replaced Willis Towers Watson in that role in early January. Willis Towers Watson had served as Funds SA's investment consultant since 2009.

A Willis Towers Watson spokeswoman declined to comment.

Funds SA CEO Jo Townsend said in the release that JANA is well placed to serve Funds SA's "evolving needs … and contribute to investment outcomes for our clients."