Industry superannuation fund Hostplus has awarded Industry Funds Management (IFM) a mandate of $100 million for its Strategic Australian Equities Fund.
The strategy, which is led by IFM listed equities executive director Clyde Haldane, seeks to deliver a concentrated, cost-effective and long-term investment portfolio of equities listed on the Australian Securities Exchange.
Haldane selects companies based on their history of delivering good returns on investments.
"Our research shows that businesses that reinvest efficiently can be expected to achieve superior share price performance relative to their peers over the longer term," Haldane said.
Hostplus initially provided $30 million in seed money for the strategy two years ago.
The decision to commit another $100 million to the fund comes after the fund completed a recent review of the strategy, a spokesperson for IFM said.
The strategy has in total $200 million in funds under management, while IFM also runs almost $11 billion in Australian equity index and enhanced index mandates.
IFM, which recently opened a Sydney office, manages in total about $29 billion across listed equities, private equity, infrastructure and debt portfolios.
It is owned by 32 not-for-profit Australian superannuation funds.
