CSRF yesterday reduced its Australian equities portfolio exposure to Perennial Investments and Maple-Brown Abbott and awarded a $100 million mandate to wholesale funds management specialist MIR Investment Management. The funds will be invested with MIR via a direct mandate that covers five of CSRF’s investment options, comprising Australian shares, diversified shares, growth, balanced and conservative. The super fund said individual mandates increased reporting transparency as well as its control over individual company holdings of the fund. "Through this mandate we hope to offer members exposure to MIR's robust returns, while enhancing the overall risk profile through manager diversification", CSRF chief executive Greg Cantor said. CSRF's exposure to Perennial was reduced to 12.5 per cent from 20 per cent and its exposure to Maple-Brown Abbott was decreased to 12.5 per cent from 15 per cent. Its total MIR exposure is now 10 per cent of the Australian equities portfolio.
