Asset consultant JANA Investment Advisers (JANA) will continue its relationship with industry fund legalsuper after inking another three-year deal.
The reappointment was made after the industry fund for the legal profession conducted its triennial review of its asset consultant.
A number of asset consultants were asked to provide expressions of interest. A shortlist of three made presentations to legalsuper's investment committee in March 2010. Site visits were also completed.
"Following a competitive tender and rigorous analysis of detailed tender responses, JANA was determined to be the firm best placed to be legalsuper's asset consultant," legalsuper chief executive Andrew Proebstl said.
"JANA has a strong empathy with legalsuper's investment objectives and is therefore best placed to continue to provide advice and insights into the investment opportunities and challenges before legalsuper."
JANA has been the $1.4 billion legalsuper's asset consultant since November 2003 and a new agreement is currently being negotiated to commence from 1 July 2010.
The asset consultant currently has relationships with Telstra Super, after the fund ended a relationship with Russell Investments (Russell) in February 2009.
IBM Australia Limited Superannuation Fund also appointed JANA in December 2009 as did industry fund AvSuper in July 2009 after terminating agreements with Russell.
