Industry fund Unisuper has appointed boutique asset manager Treasury Asia Asset Management (TAAM) to a $151.1 million mandate.
The mandate takes up 0.6 per cent of the fund's total exposure to international equities.
Chief investment officer David St John said he was impressed by TAAM director Peter Sartori's track record in successfully managing Asia Pacific funds over several years.
TAAM's mandate reflects an increasing desire among Australia's institutional investors to diversify their portfolios away from domestic markets and towards international, in particular Asia.
"The appointment of TAAM reflects our long-term strategy to overweight Asian markets across a number of asset classes," St John said He also highlighted TAAM's association with contrarian investment specialist Marc Faber.
Faber publishes a monthly investment newsletter called "Doom Boom and Gloom" and is author of several books including, Tomorrow's Gold: Asia's Age of Discovery.
TAAM develops its portfolios through a bottom-up stock-picking approach and focuses on mid to large cap companies.
