News

HSBC wins Australian pension fund mandate

Kangaroo_signFirst State Super, the Australia-based $67 billion (A$100 billion) superannuation fund, has appointed HSBC Global Asset Management to manage a $338 million multi-factor mandate. In addition, HSBC will also provide First State with research and modelling support to help the pension fund bolster its internal investment team and its management of international equities. According to HSBC there will be a clear separation between the mandate and the research and development services despite the two being run in parallel. "We believe that arrangements of this type will become a global template for future similar partnerships as asset owners such as First State Super look to build out the capability of their teams," said Geoffrey Pidgeon, head of Australia at HSBC Global Asset Management. “Having successfully developed an internal systematic investment capability in Australian shares in recent years, we are now focused on building out this platform to manage part of our international shares," added Ross Barry, head of systematic and impact investing at First State Super. ©2019 funds global asia

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