Ardevora's investment process is "research based and grounded in cognitive psychology", according to the firm's website.
"We observe the behaviour of three participants in equity markets: company management, analysts and investors. We attempt to exploit the biases which result from their behaviour," says Ardevora.
Ardevora was formed in 2010 and has US$1.5 billion in assets under management.
The CBA superannuation fund mandate will be managed by the Ardevora team including founder Jeremy Lang and partners William Pattisson, Gianluca Monaco and Ben Fitchew.
“At Ardevora, we approach investing in a subtly different way to most, building on insights from behavioural psychology. We are extremely proud to be working with the CBA and it is a strong validation of the process we follow.
“We view people as error-prone and see investment as a process of recognising where others involved in the market are most likely to be wrong. Our edge comes from viewing markets in this way – how and why people are wrong – rather than fixating on why we, as investors, are correct,” he said.
