Multi-manager Intech has decided to drop its active Australian bond managers and replace them with a passive mandate, while at the same time adopting an active manager approach to its global fixed interest exposure.
Intech has terminated its Australian active fixed interest mandates with BT Financial Group and Perennial Investment Partners, awarding index manager Vanguard Investments a passive Australian fixed interest mandate instead.
"We only terminated our Australian managers because of the change in the fixed interest strategy. We still have rated BT and Perennial as a buy," Intech head of fixed interest and currency Andrew Korbell said.
Intech has appointed global active managers Colchester Global Investors and Aberdeen Asset Management.
"Following a review of our Australian bond mandate we formed the view that there were more opportunities to be found by using global bond managers," Intech head of fixed interest and currency Andrew Korbell said.
