Asset Super has jettisoned its Macquarie Treasury Fund cash mandate and replaced it with offerings from ING and Perpetual.
Asset Super has jettisoned its Macquarie Treasury Fund cash mandate and replaced it with offerings from ING and Perpetual.
The $110 million cash mandate will now be 55 per cent invested with ING Enhanced Cash and 45 per cent with Perpetual Exact Cash.
"This move is a continuation of our ongoing strategy to improve investment returns," Asset Super chief executive John Paul said.
"Under the new arrangement we have split the cash investment between ING and Perpetual to provide a combination of active and passive cash management.
"We have enjoyed a very happy association with Macquarie, but have now decided on a different cash strategy, which necessitated the move."
In February, Asset Super made $182 million worth of manager changes as part of a new investment strategy, establishing a $55 million global tactical asset allocation through asset consultant Intech and cutting its allocation to more traditional asset classes.
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