The new managers are Harding Loevner, Longview Partners, Sands Capital Management and Schroders.
Energy Super said the changes were the result of the fund’s continual investment review process and will give Energy Super direct mandate and control, lower fees, and wider global diversification.
The international equities portfolio was previously being managed by AMP Capital, where Schroders was one of the managers. AMP Capital continues to manage the fund's socially responsible investments portfolio.
Energy Super CEO Robyn Petrou said growth in the portfolio’s size and the ability for direct control and access to global equities had prompted the move.
“As part of its continual review to ensure long-term and consistent performance, the board decided that the fund had reached a scale where it was appropriate to move into direct mandates,” she stated.
“This is because this has the potential to deliver better control over the investment strategy, cost savings and after tax outcomes, while still keeping the style and asset allocation required.”
