Macquarie targets global equity manager
Macquarie Financial Services Group has added a US-based global equity manager as another partner to its Macquarie Professional Series.
Arrowstreet Capital Limited Partnership has been signed to establish a global equity fund and an emerging markets fund with Macquarie.
Arrowstreet specialises in managing global equity portfolios through a core, quantitative investment style.
The partnership marks the first time that a global emerging markets fund has been offered through the series.
The selection is said to benefit investors by offering a broader universe of stocks to choose from compared to most global funds, as it includes emerging markets and global small cap stocks.
Macquarie Professional Series head of product Andrew Findlay said this would enhance the fund’s ability to generate attractive returns for investors.
“Arrowstreet’s decision to allocate $500 million of its emerging markets capacity to the Australian market is very exciting for us and for our clients because it is very difficult to access high quality managers in this particular asset class,” he said.
The new partnership comes as the series reaches $1.3 billion in funds under management since its launch 18 months ago with the Morgan Stanley Global Franchise Fund and the Walter Scott Global Equity Fund.
The series also features Australian manager Concord Capital as well as a fourth fund, the CSL Active Commodities Fund.
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