Industry fund Asset Super has made a series of changes to its international equities and alternative investments, terminating two mandates and appointing three new managers.
The fund, which is the subject of merger discussions with CareSuper, appointed Oldfield Partners for its Overstone Global Equity Fund to manage about $40 million.
It terminated a $63-million mandate with Martin Currie Global Alpha, which was distributed among the remaining international equity managers, including Dimensional Fund Advisors, Franklin Templeton, Schroders and Zurich.
Among Asset Super's alternative defensive investments, the fund terminated a $38-million mandate for the Wellington Global Credit 2014 Trust.
But it gave a mandate of about $30 million to the Schroders Real Return Fund, which Asset Super said could be expanded at a later point in time.
The Stafford International Timberland VI Fund was appointed to manage $15 million and was given an initial investment of $6 million.
