Antipodes has announced its appointments by industry super fund HESTA to manage a major global equities mandate.
The approximately $1 billion mandate for the Antipodes Global Long Strategy was awarded following an extensive due diligence process, the firm said in a statement.
“During a period in which investors are once again being reminded about the importance of starting valuations, I thank HESTA for recognising the effectiveness of our pragmatic value approach and selecting our team to help manage its members’ superannuation,” said Antipodes’ chief investment officer, Jacob Mitchell.
HESTA’s general manager for growth assets, Steven Semczyszyn, praised Antipodes’ “pragmatic approach” to valuing companies.
“We look forward to Antipodes helping HESTA to deliver strong investment returns for our members.”
Also commenting on the appointment, the director of institutional distribution of Antipodes’ distribution partner Pinnacle Investment Management, Wes Campbell, applauded the partnership.
“As we have seen increasing concentration in global equity allocations, Antipodes’ differentiated value-investing style will provide further diversification benefits for the broader HESTA portfolio and deliver sensible and aligned exposure to important areas of development such as decarbonisation, healthcare and digital connectivity.”
Earlier this month, Pinnacle reported a 6 per cent decline in aggregate affiliates’ funds under management (FUM) to $89.4 billion in its results for the financial year ending 30 June.
Resolution Capital ranked as Pinnacle’s biggest affiliate by FUM as of 30 June ($18.3 billion), followed by Hyperion ($12.4 billion), Plato ($12.1 billion), Metrics ($11.9 billion) and Antipodes ($11.0 billion).
