A $7 billion industry superannuation fund has awarded a $130 million global small and mid-cap equities mandate.
Energy Super made the allocation to Bell Asset Management, which runs a global small and mid-cap strategy.
It has outperformed the MSCI World SMID Cap index by 9.6% over the past 12 months, returning 15.9% before fees.
Bell Asset Management managing director strategy and distribution Rob Sullivan said: "We are seeing increasing demand for this segment of the market as investors look for pockets of opportunity and alpha. We look forward to building a strong and long partnership with Energy Super and delivering the best results we possibly can to its members."
Chief investment officer Ned Bell said: "We understand the importance of this decision and we're looking forward to working with the Energy Super team."
In April, Bell Asset Management hired senior global equities analyst Matthew Saddington from Millinium Capital Managers.