REST Superannuation (REST) has targeted structured credit securities, investing more than $200 million in its latest round of mandate changes.
During the June 2009 quarter, REST ploughed $150 million into Babson Capital Management and invested $75 million in the Putnam Advisory Company.
The funds for these investments came from REST's cash flows.
"These investments continue our program of targeting structured credit securities and present the prospect for attractive, equity-like returns for our members over a three- to five-year investment timeframe," REST chief executive Damian Hill said.
"Consistent with REST's investment philosophy, these investments are being undertaken as part of a diversified portfolio of exposures to the credit markets within the growth alternatives sector."
REST also redeemed its investment of $350 million in the Mesirow Absolute Return Fund.
One hundred and fifty million dollars was reinvested with Fauchier Partners into its Fauchier Partners Absolute Return Trust, with the remaining $200 million retained in cash.
