AustralianSuper expands international equities team

AustralianSuper has announced three senior investment management appointments to its international equities leadership team.

About one third, or $110 billion, of AustralianSuper's total assets is invested in international equities. Presently, about 30% of this is managed in-house, but the fund wants to increase this significantly by 2030, with the aim to create "greater cost efficiency at scale and generate stronger returns to the benefit of members."

The new appointments support this strategy, with London-based Steve Kelly and Anu Narula both commencing in the role of co-head of high growth global equities.

Kelly joins from AXA Investment Managers following a near three-decade career at the firm where he specialised in US equities and will lead the super fund's high growth global equities strategy.

Meantime, Narula was most recently the equity partner at the Mirabaud Group, an organisation he stayed for over a decade. Prior to this, he was a senior fund manager on global equities at AXA Investment Managers.

Colin Moar, also based in London, is the final addition to the team, joining as the senior portfolio manager, technology equities.

He was the director and investment manager in the technology team at Barings for over three years. He also boasts experience with RWC Partners, Polar Capital Partners and HSBC Asset Management.

Moar will oversee a technology-orientated portfolio of global equities.

AustralianSuper head of international equities Mark Hargraves said the appointments will further help to develop the fund's global equities platform.

"As the fund's single largest asset class allocation, international equities are integral to providing members with exposure to public markets globally," Hargraves said.

"We believe this enhanced in-house capability and commitment to active management will reduce costs and help generate sustainable long-term performance for 3.4 million members."

The appointments follow the exit of its long-term chief retirement officer in the beginning of the month, as well as its effort to expand US footprint with a series of senior appointments.

AustralianSuper currently has over $342 billion assets under management as at June 30.