Legalsuper has implemented a host of investment changes, returning its manager line-up to its pre-merger size.
In the reshuffle, the Colonial Global Credit Income Fund scored a $35 million mandate and hedge fund Fauchier Partners nabbed a $20 million mandate.
Solaris won an Australian equities mandate and Invesco won a small-cap mandate.
The legal industry fund also claimed a 100 per cent redemption of its investment in the Style Blend product with Alliance Bernstein. Fifty per cent of this was invested back into the Alliance Bernstein Value product and 50 per cent with new manager Platinum Asset Management.
As a result of the changes, a number of managers were terminated: Colonial First State, Challenger, Concord, Maple-Brown Abbott, State Street, Wallara, Contango Asset Management and Schroders.
Legalsuper chief executive Andrew Proebstl said some of those were held via the JANA/MLC investment platform.
"As you can see there is quite a bit of movement. On my calculations, this will return our investment manager line-up to about 35, which is what it was prior to the mergers," Proebstl said.
In June, Legalsuper brokered a merger with the $142 million Victorian Bar Superannuation Fund and legal firm Blake Dawson's corporate superannuation fund.
Following this, the fund re-balanced its portfolio. Cooper Investors scored a $10 million mandate, while micro-cap manager Contango and wholesale portfolio manager Balanced Equity Management received $5 million each from the Australian equities portfolio. The international equities portfolio was also re-balanced, with Capital International and Marathon Asset Management both receiving $10 million.
