Superannuation fund Catholic Super has more than halved the number of Australian equity managers in its portfolio.
The decision to consolidate the investment managers followed the fund's merger with the National Catholic Superannuation Fund. The deal was finalised in March.
Both funds in total had 15 Australian investment managers, Catholic Super chief investment officer Garrie Lette said.
Catholic Super has retained Perpetual, L1 Capital, Orbis Investment Advisors, Paradice Investment Management and Cooper Investors.
The fund has also appointed Realindex Investments to the manager line-up.
It has also boosted its mandate with Perpetual, with the manager now managing $220 million. Perpetual's previous mandate with Catholic Super was $48 million.
"The decision to change the investment managers was due to the fund merger. As a result of the merger we looked to consolidate our Australian equity portfolio," Lette said.
