Financial services company Astarra has terminated its $14.8 million active Australian equities mandate with Tyndall and awarded Ausbil Dexia and Concord a $9.3 million and $4.7 million mandate respectively.
"After an extensive market review of the sector, our independent investment committee appointed Ausbil Dexia and Concord because of their different yet complementary styles," Astarra chief executive Rex Phillpott said.
Global research firm Morningstar said Ausbil's style was a blend of top-down macro and sector analysis, while Concord ran a multi-portfolio manager approach.
Astarra runs four superannuation funds and has $270 million in funds under management.
