AMIST Super has switched its global fixed income mandate to cash.
Industry superannuation fund AMIST Super has moved its international fixed interest mandate into cash.
The $18 million mandate was managed by Credit Suisse Investments Australia.
In May, Challenger Financial Services bought Credit Suisse Investments Australia, including the portfolio team led by Richard Quin. The team managed five credit and fixed interest investment funds.
"While we have the highest regard for Richard Quin and his team, we have been re-balancing our portfolio away from international credit," AMIST Super chief executive John Livanas said.
"Having benefited from credit spreads narrowing over the last few months, we will be holding these funds in cash until we have reviewed asset class options."
