Auscoal Super has appointed two new investment managers to its $5.7 billion investment portfolio.
The industry superannuation fund’s international shares portfolio has been further diversified by the appointment of United States-based global small-cap company investment manager Copper Rock Capital Partners.
For the fund’s fixed interest portfolio, Auscoal has appointed the Putnam Advisory Company, a large global bonds manager with expertise in investing across a broad range of global fixed interest securities.
The funds for the new investments were sourced from a combination of redeeming an existing mandate with Alliance Bernstein, asset allocation rebalancing and cash inflows.
Auscoal Super chief executive Bruce Watson said the appointment of Putnam followed extensive due diligence to identify a high-quality manager with the skills to rotate through the various sectors of the global bond market.
“The depth of Putnam’s team and their expertise in securitised loans was particularly attractive to Auscoal Super,” Watson said.
“We expect our recent investment manager changes to add significant value to our investment portfolio.
“Copper Rock is expected to generate alpha through its quant/fundamental approach to security selection in the less-efficient global small-cap market and further diversify the international equity sector’s risks.”
