US-based asset consultant gains super foothold
In what represents a break from the norm, meat industry-based superannuation fund AMIST Super has opted to appoint a US-based asset consult.
AMIST has appointed Cambridge Associates as its asset consultant, replacing National Australia Bank owned JANA.
The move was confirmed by AMIST Super chief executive, James Thomas, who acknowledged that it represented an end to a 10 year relationship with JANA.
"JANA have been very good to us", Thomas said, "In a competitive landscape with increased pressure on super funds to perform it was felt that Cambridge's philosophy would prove beneficial for the members of AMIST Super".
He said the fund had been attracted to Cambridge because of the firm's depth of knowledge, extensive worldwide research capability and a tailored approach to meeting the trustees' needs.
AMIST Super represents Cambridge Associates for Australian superannuation client to take their full-service model and will be serviced by the company's Sydney-based team.
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