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Mellon wins GESB mandate

By Stephen Blaxhall
1 minute read

GESB has redistributed some of its $2 billion in international equities.

Mellon Global Investments has been awarded what it describes as a significant global equity mandate, by the Government Employees Superannuation Board (GESB).

Newton Investment Management, a Mellon subsidiary specialising in global portfolios, will manage the mandate.

GESB's international equities portfolio at the time of the transition was $2 billion.

"We are pleased to appoint Newton and believe this strategy will be an important contributor to overall fund performance," said GESB chief executive Michele Dolin.

GESB is the super fund for Western Australian Public Sector employees, and manages a $7 billion investment portfolio for 270,000 members.

"It's been a good start to the year and we are delighted that GESB has appointed Newton,"  Mellon Global Investments managing director James Gruver said.

Investor Weekly understands that Lazard has been awarded another portion of the mandate, but neither party was willing to confirm this at time of press.