Sydney-based Redpoint Investment Management has picked up a key mandate from MLC.
The company announced this week that it had been awarded a mandate of over $1 billion from MLC and would be managing an Australian Shares index strategy within MLC's flagship multi-asset portfolios, including MLC Horizon 2 – 7 and the MLC Inflation Plus portfolios.
Commenting on the mandate, Redpoint chief executive, Tim Bath said the company was extremely pleased to have been selected to manage such a significant mandate.
"It's testament to both the team's experience in successfully managing large portfolios and the robustness of our investment approach in executing risk efficient and cost-effective strategies," he said.
MLC Australian Equities portfolio manager Peter Summer said the company had appointed Redpoint as a manager in the Australian Shares Strategy because of the quality and considerable experience of the investment team, which is led by chief investment officer Eric Smith.
"Eric was previously chief investment officer for Vanguard, where he managed MLC's Australian and global index mandates for around 10 years, and is supported by seven experienced investment professionals," he said.
