The partnership will see the two parties share expertise and resources, with a particular emphasis on asset allocation.
“A number of forces are reshaping economies and markets, with returns increasingly difficult to achieve and risks harder to navigate,” said Clinton Grobler, managing director, Australia at PineBridge Investments. “We are pleased to partner with Sunsuper – one of the industry’s most influential retirement funds – to provide dynamic asset allocation expertise for their members.”
Sunsuper’s chief investment officer Ian Patrick reiterated Sunsuper’s commitment to strategic partnerships noting that the PineBridge approach to multi-asset investing is “among the best we have seen.”
Andrew Fisher, head of asset allocation at Sunsuper said the group is looking forward to working closely with the PineBridge team.
PineBridge is a New York-based asset manager. As of 30 September 2019, the firm managed US$96.9 billion across global asset classes for sophisticated investors around the world.
Australia’s retirement market is the world’s fourth-largest, valued at $2.7 trillion, and has experienced the highest growth rate of pension fund assets globally. It is forecast to increase to $6 trillion by 2025 as the compulsory superannuation guarantee rises to 12 per cent.