Lend Lease outsources
Lend Lease Investment Management (LLIM) is to outsource its Australian equities management capabilities, in a move designed to cement its manager of managers approach.
Lend Lease Investment Management (LLIM) is to outsource its Australian equities management capabilities, in a move designed to cement its manager of managers approach.
The group has handed over the management of its quantitative equities portfolio to State Street Global Advisors (SSgA). The LLIM quant equities team of three will join SSgA as a result.
The group is also considering outsourcing its other Australian equities team, Lend Lease Active. However, a spokesperson for LLIM says there is no timeframe for this to take place.
“The important thing is not the timing, it’s the people and the investment style has to be right for us,” the spokesperson says.
The move is part of LLIM’s ongoing strategy to reposition itself as a manager of managers. This strategy has included the rebadging its retail offerings through MasterKey, launched last year.
Chief executive of LLIM Bruce Coleman says his group’s opportunities now lie “in utilising the strengths of our multi-manager capabilities”.
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