Industry superannuation fund BUSS(Q) has terminated its $30 million emerging markets mandate with Lloyd George.
The fund's asset consultant, Frontier Investment Consultant, was not confident in Lloyd George following news about key staff departures.
In April, it was announced investment managers Rees-Mogg, Edward Robertson and analyst Dominic Johnson had left the United Kingdom investment manager.
BUSS(Q) has hired Lazard to manage a $35 million emerging markets mandate.
The fund has also appointed Contango Asset Management to manage a $10 million micro cap mandate.
