Tyndall/Suncorp Investment Management has awarded a $160 million global equity growth mandate to Principal Global Investors Australia following a global search of managers.
The appointment was part of a revamp of Suncorp’s World Equities Trust.
The fund manager was selected for its proven track record in managing global equity portfolios, Suncorp Investment Management portfolio manager Ken Ostergaard said.
“The review involved an extensive search of suitable global fund managers followed by on-site due diligence visits in Europe and the US of the managers short-listed for consideration,” he said.
Suncorp’s World Equities Trust is the underlying investment fund for all Suncorp retail global share funds.
Tyndall/Suncorp Investment Management expects the mandate will further improve the trust’s performance and competitiveness.
Principal Global Investors is a diversified asset management organisation with global investment expertise in equities, fixed income and real estate.
