NGS Super has awarded eight new mandates as part of a restructure of its $600m international equity portfolio.
Non-Government Schools Superannuation Fund (NGS Super) has awarded eight new mandates in a bid to shore up future returns for members.
The industry fund has awarded new mandates to Baillie Gifford, the Deutsche Thematic Fund, Orbis, Pzena, Holowesko, Taube Hodson Stonex, Wellington, and Charlemagne Capital.
Colonial First State has retained its emerging markets mandate, while AMP Future Directions and Barclays have lost their mandates.
"The change in strategy has given us greater control, the ability to provide more transparency on international equity managers and to invest through high conviction boutique style managers," NGS Super manager investments Bill Dwyer said.
"We chose the new managers because of their investment approach, ownership structure, quality of personnel, portfolio construction and trading capabilities."
The transition was performed by Citigroup.
"It was completed in just over one day and the way that the markets moved on that day was volatile but favourable. The decision to cover the cash component with futures added a lot of value," Dwyer said.
Dwyer will be meeting the new managers on-site in January.
"I will be talking through portfolios ... and getting a sense of the market and how it looks going forward," Dwyer said.
NGS Super chief executive Anthony Rodwell-Ball said he is confident the new structure will deliver solid returns to its members in 2009 and beyond.
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
