UniSuper, Melbourne, hired Man GLG to invest in Asia ex-Japan equities, the discretionary fund manager announced on Sept. 29.
The value of the allocation was not disclosed. Man GLG is part of $151.7 billion manager Man Group.
UniSuper, which had A$125 billion ($82.7 billion) in assets as of June 30, did not respond to a request for comment. But GLG Partners, the London-registered entity of Man GLG, was listed on UniSuper's website as one of its external managers.
The mandate is the first awarded to Man GLG by UniSuper and allows the fund manager to adopt a long-only, style-agnostic approach driven by fundamentals for its investments.
The investment team, led by Andrew Swan, head of Asia (ex-Japan) equities, uses bottom-up analyses with a focus on relative earnings revisions. It aims to capture turning points in earnings revisions that have potential to generate alpha.
Man GLG declined to comment on the size of the mandate.
UniSuper recorded a 10.3% return on its default plan for its superannuation members for the financial year that ended on June 30.
The breakdown of UniSuper's asset allocation by geography is not publicly available. It has 23.9% of its assets invested in overseas equities, compared with 31.3% in domestic equities.