IAG Asset Management has invested $75 million with boutique manager Acadian Asset Management.
The money will be invested in Acadian's Australian Market Neutral Fund.
We believe in the competitive edge, depth of experience and skill in Acadian's global investment team," IAG Asset Management senior portfolio manager Gavin Shepherd said.
The Australian Market Neutral Fund adopts a quantitative approach to investing and can use long/short strategies.
The fund does not take any market exposure and so its beta is zero.
"Acadian has a proven investment process globally that they have adapted well to the Australian market. We believe in their efficient stock-picking skills and the way they construct portfolios," Shepherd said.
