Legalsuper, a A$4.1 billion ($3 billion) Melbourne-based industry super fund focused on Australia's legal profession, awarded a A$170 million emerging market equities contract to London-based Aikya Investment Management, confirmed Andrew Proebstl, chief executive.
The hire is the first for Aikya Investment Management since the firm was established in March of this year, according to a news release by Sydney-based Pinnacle Investment Management Group, the multiaffiliate investment management holding company that counts Aikya among its 16 investment boutiques.
Norman Zhang, Legalsuper's chief investment officer, in the news release expressed confidence in Aikya's "capability to protect capital and deliver healthy long term returns from socially responsible businesses" in emerging markets.
Mr. Zhang couldn't immediately be reached for further comment.
