Legal sector superannuation fund legalsuper has awarded a $34 million Australian equities mandate to Integrity Investment Management.
As a result, Challenger's $34 million mandate with legalsuper was terminated.
"The decision came from an ongoing review of our current managers and was made some time ago. It has just been implemented this week," legalsuper chief executive Andrew Proebstl said.
Last month, legalsuper re-balanced its cash and equities portfolio, transferring a portion of its cash into Australian and international equities.
The Australian equities component was placed fully with existing manager Cooper Investors.
The remaining cash was invested with current international equity managers Marathon Asset Management and Capital International.
