Colonial First State has terminated its mandate with AllianceBernstein.
Colonial First State has appointed Sarasin Partners to manage a $380 million global equity mandate, replacing AllianceBernstein.
The changes are within the firm's Global Shares Portfolio listed on the FirstChoice platform.
"We decided to change managers because we were concerned about the staff changes at AllianceBernstein," Colonial First State head of FirstChoice investment Scott Tully said.
The staff turnover occurred in the firm's overseas offices, Tully said.
Sarasin Partners is a London-based fund manager that adopts a thematic approach to investing.
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