Auscoal reviews its international equity sector and has terminated a mandate with State Street Global Advisors.
Auscoal has awarded a mandate to the Chicago-based LSV Asset Management following a review of its international equity sector.
The superannuation fund for the coal mining industry has channelled $140 million into the fund as part of a global value mandate.
As a result of the appointment appointment Auscoal has terminated a mandate with State Street Global Advisors Wealth Weighted Global Equities Index.
"The appointment is consistent with Auscoal's investment philosophy of identifying highly skilled active managers who will add value for our members. LSV's investment philosophy is a combination of value, contrarian and momentum factors which will complement and add diversity to our international equity sector," an Auscoal spokesperson said.
This follows Auscoal awarding a $50 million mandate to Sydney-based investment manager Pengana Capital for its Pengana Global Volatility Fund.
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