IOOF awards global SMID mandate
IOOF has awarded a global small and mid-cap mandate to Natixis Investment Managers affiliate, Vaughan Nelson Investment Management.
The $125 million mandate would be in IOOF’s MultiSeries international shares portfolio.
The Vaughan Nelson Global SMID strategy was a concentrated portfolio of 40-80 stocks with a value, bottom-up approach which targeted 50% returns from every position over a three-year time horizon.
Stanley Yeo, deputy chief investment officer and head of equities at IOOF, said: “In a recent review of our global equities portfolio, we decided the case for a global SMID allocation was compelling to improve the outcome for our investors.
“Following a global search, we were particularly impressed by the Vaughan Nelson team’s proven track record and disciplined investment approach. In addition, as a boutique firm, the appointment of Vaughan Nelson is consistent with our preference for boutique asset management firms running niche strategies.”
Louise Watson, country head for Natixis IM, Australia and New Zealand, said: “This mandate between IOOF and our affiliate, Vaughan Nelson, means that investors of IOOF’s MultiSeries product have exposure to both international companies, and also active management. We look forward to helping IOOF’s investors achieve positive outcomes through this new partnership”.
AUTHOR
Laura Dew
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
