Pengana wins $66 million in mandates
Wednesday, 14 October 2009 11:40am
Cuesuper, Combined Fund and Pinnacle Superannuation have poured a collective $66 million into the Pengana Global Bond Fund.
The three Melbourne-based superannuation funds have allocated the mandates over the past three months, with Combined Fund allocating $28.3 million, Cuesuper, $21.6 million and Pinnacle Superannuation Fund, $16.3 million.
Funds under management for the diversified bond strategy now total more than $186 million.
The fund uses a multi-manager approach, investing with world class fixed income investment managers such as Mariner Silvermine, Loomis Sayles, Alphabridge, TCW and Ashmore in a range of higher-yielding debt strategies.
Allocations to each of these underlying strategies are reviewed and revised according to prevailing market conditions and an ongoing assessment of market risk by Nick Griffiths, the fund manager and Pengana's chief investment officer.
As a further risk control measure, the fund's currency exposure is fully hedged back into Australian dollars at all times.
"One of the benefits of this particular strategy is that it gives smaller institutional investors the opportunity to allocate to a range of higher performing fixed income strategies which are run by investment specialists in their respective classes," said Griffiths.
The Pengana Global Bond Fund is only available to wholesale investors.
Company release
This story was found at: http://www.financialstandard.com.au/news/view/27036
Printed: Thursday, 9 September 2010 7:23pm