Industry superannuation fund Maritime Super has terminated its Australian equities mandate with Barclays Global Investors (BGI), appointing two new managers.
BGI had managed an enhanced index Australian equities mandate.
The fund has hired Hyperion Asset Management and Orbis. Each manager will actively manage about $60 million in Australian equities.
The manager changes were as a result of team changes and the decision by the fund to adopt a proactive approach in Australian equities.
"BGI has had some massive personnel changes. Obviously we were concerned with that. We did, however, want to be more proactive in Australian equities, adding alpha to the portfolio," Maritime Super executive officer Glenn Davis said.
The fund has five other managers in its Australian equities portfolio.
