Industry superannuation fund Christian Super has replaced its asset consultant, Mercer, with JANA Investment Advisers effective 1 December 2010.
"We've just appointed JANA and we are just gearing up for that new phase," Christian Super chief executive Peter Murphy said.
"It is not something that we go out and blow trumpets about, because there were no complaints at all with Mercer. It is just that we went through a tender process and felt that this time JANA provided a really good complementary service."
As a result of the change in asset consultants, Christian Super has made changes to its team.
"At the moment, we are looking at re-jigging the team a little bit on the investment side," Murphy said.
"We are looking in that space for some investment team members, but there might not be a significant increase in headcount."
Christian Super is also looking for a compliance manager.
"We are advertising for a compliance manager and that is to replace a compliance manager that has decided to stay over in London," Murphy said.
The $500 million super fund has also made changes to its investment portfolio. It recently terminated a mandate with Axa Rosenberg of between $40 million and $50 million.
In April, Axa Rosenberg told consultants it had discovered a coding error in its global equity risk model.
The error was not dealt with in line with the compliance standards of the firm and the affair ultimately led to the departure of Axa Rosenberg global chief executive Stephane Prunet.
Christian Super has now appointed State Street to manage the international equities mandate.
"It is a discrete mandate. It's a passive portfolio with our screens on it," Murphy said.
The fund has also appointed National Australia Bank to manage the fund's currency overlay.
