Statewide Super has awarded Loomis, Sayles & Company a $180 million US asset-backed securities mandate.
Loomis Sayles, a Natixis Investment Managers affiliate firm, has customised the mandate for the $10.8 billion superannuation fund, aiming for returns of cash plus 2-3 per cent.
Statewide Super chief investment officer Con Michalakis commented Loomis Sayles had been chosen after a review of the fund’s defensive alternatives asset class at the end of 2020.
“Cash gets you nothing and developed market sovereign bond yields remain low so by investing in this strategy I can get some yield pick-up,” Mr Michalakis said.
Louise Watson, managing director and head of distribution for Australia & New Zealand at Natixis Investment Managers stated Statewide Super members will have access to a strategy that has been designed for the current low-rate environment.
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