Russell Investments has awarded a mandate to BNY Mellon Asset Management's Australian equities specialist, Ankura Capital.
Ankura's contract forms part of Russell's newly-launched Australian Shares Enhanced Income Fund.
The size or terms of the mandate were not specified.
"This is the second mandate Ankura has been awarded as part of its Australian equity high-yield strategy," BNY Mellon Asset Management Australia managing director Bruce Murphy said.
"This win marks a particularly strong year for Ankura across both traditional long-only and high-yield strategies.
"The retirement income segment is gaining significant interest and Ankura's high-yield strategy has been purpose built to provide a robust income investment solution for trustees and investors."
In May, ipac awarded Ankura a high-yield mandate within its new diversified high-yield fund, Axa Generator.
"This strategy has been developed to recognise both the increase in demand for income-focused strategies and as a response to the lower-growth investment environment that is likely to prevail for some time," Ankura chief investment officer and managing director Greg Vaughan said.
"The essence of this strategy is to focus on sustainable yield, including franking credits. The preference for yield generally excludes resource stocks."
