The fund has also beefed up its exposure to its absolute return manager Warakirri from $50 million to $90 million. It awarded Loomis Sayles a $50 million mandate towards its Credit Opportunities Product. The fund can shift its exposure between loans and high yield fixed interest investments.
Depending on market conditions it is either 80 per cent loans and 20 per cent high yield or vice versa. TWU has also put $60 million towards Goldman Sachs' Australian Fixed Interest Fund. This fund aims to transport alpha from global fixed interest markets onto the Australian benchmark. Invesco's global overseas fixed interest fund has been seeded by TWU to the tune of $70 million.
TWU is also awaiting legal sign-off on a $25 million mandate for Eureka Fund Management's Opportunistic Property Fund. It is expected at the end of the month . Chief investment officer Andrew Killen said he anticipated further changes to TWU's manager line-up in the near future.
