LGIAsuper awards Brandywine with $100m EM debt mandate
Queensland’s superannuation fund, LGIAsuper, has awarded Brandywine Global, an affiliate of Legg Mason, a $100 million emerging market debt mandate.
The funds would be invested via the Brandywine Global Sovereign Credit fund, which was first launched in 2012, and invests in bonds with high real yield.
The fund is measured against the Barclays Capital 60/40 Sovereign Credit Index and looks beyond short-term, conventional thinking to rigorously pursue long-term value, the firm said.
According to director of institutional business for Legg Mason, Colin Taylor, the fund managed to achieve results for investors by focussing on assets that were mispriced and trading significantly below measures of fair value.
“Brandywine Global also benefits by identifying investments that its macro research suggests could face positive information surprises,” he added.
“At LGIAsuper we are always looking for new ways to benefit our members and the mandate with Brandywine provides us a new opportunity to do this,” LGIAsuper chief executive, Kate Farrar, said.
“We are excited to see the benefits that this partnership with Brandywine Global will bring.”
Recommended for you
Financial Services Council chief executive, Blake Briggs, is urging Minister for Financial Services, Stephen Jones, to take advantage of the QAR opportunity to reduce regulatory duplication and ensure advice is affordable.
Former chair of the House of Representatives’ Standing Economics Committee, Tim Wilson, is planning a return to politics after losing his seat in the 2022 federal election.
Morningstar is going to offer research ratings of funds in the $3.5 trillion superannuation sector for the first time in response to demand from financial advisers.
Treasurer Jim Chalmers has opened a consultation into the design of the annual superannuation performance test, canvassing views on a range of reform options.
