CFS allots Martin Currie two mandates

Colonial First State (CFS) has mandated Martin Currie to oversee two options in its multi-manager single-sector strategy.

Martin Currie is now looking after the CFS Australian Share and CFS Geared Australian Share options, replacing Longreach CAI and Tyndall Asset Management.

In the CFS single-sector portfolio, Longreach CAI previously had a 10% allocation in the Australian Share and Geared Australian Share options respectively. Tyndall had a 17.5% and 20% allocation respectively.

CFS declined to comment on the mandate but said in a note to investors that it made the replacements with "the aim of improving investor outcomes".

The FirstChoice Wholesale Investments, Wholesale Personal Super and Pension, Employer Super and Investments products offer the options.

"There are no changes to the objective, strategy, risks or minimum suggested timeframe of these options," CFS said.

The changes were effective in March.

Martin Currie declined to comment on the new mandate other than saying it will continue to run its investment philosophy and mandates as is despite parent company Franklin Templeton announcing in January it will fold it into its other brands ClearBridge Investments and Franklin Equity Group.

"This new structure will optimise the combined strengths of Martin Currie, ClearBridge and Franklin Equity Group. There will be no changes to the investment process or portfolio management teams," Franklin Templeton said at the time.

Meanwhile, J.P. Morgan has replaced Allspring Global Investments for the CFS Emerging Market option.

Allspring previously had a 30% allocation in the single-sector portfolio's emerging market option.