VicSuper awards $240m mandate

VicSuper awards $240m mandate

VicSuper has awarded a $240 million investment mandate to BNP Paribas Investment Partners’ growth equity partner, Carnegie Asset Management (CAM).

"We are delighted to have the opportunity to deliver consistent, long-term asset growth to VicSuper," said Carnegie managing director Bo Knudsen.

"We appreciate their confidence in awarding this mandate to CAM and we look forward to further building our relationship in the future."

VicSuper chief executive Michael Dundon added that the Danish portfolio manager would “play a key role as an active satellite” in the business’ global equites/satellite portfolio structure.

“We believe Carnegie’s solid investment approach, which is based on a concentrated, mega cap portfolio, will add consistent value to our members’ investment returns,” he said.

Carnegie Asset Management has worked with Australian clients since 2010. The company had assets under management of $17 billion as of 30 June 2016.

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