AMP Capital Investors has moved away from a single manager strategy for its $5 billion International Share Enhanced Index Fund, adding AQR Capital Management and Enhanced Investment Technologies.
Previously, the fund was managed solely by Henderson Global Investors.
"We felt that there was some over-reliance on a single manager and wanted to diversify that," AMP Capital senior portfolio manager Van Athukorala said.
"Cost was not a key driver; we wanted to offer something that was robust and could withstand the test in the markets.
"We think this construction is really what we are looking for and finalises our plans for this fund."
AQR has been given a $1.6 billion mandate, while Enhanced Investment Technologies, which is known as Intech Janus in the United States, has been awarded a $1.2 billion mandate.
The implementation of the mandates was finalised last week, Athukorala said.
The fund aims to provide high returns over the long term, while accepting high levels of volatility in returns, by investing in international shares and partially replicating the MSCI World Accumulation ex Australia Index.
The portfolio may short sell securities with the aim of implementing the investment objectives.
