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Colonial First State Global Asset Management has won a $1.3 billion domestic fixed income mandate from UniSuper.
The mandate is for government and semi-government bonds and was secured through a competitive tender, says Warren Bird, co-head of global fixed interest and credit at Colonial.
“Institutional investors are seeking solutions which balance outcomes with appropriate research, risk and portfolio management,” says Bird in a statement.
Colonial manages about $25 billion in fixed interest and credit. It also manages Unisuper’s cash and mortgage-backed securities as well as its unlisted infrastructure investments. Bird’s team has 28 people in Sydney and Hong Kong.
Bird says he had begun talking to Colonial in August. John Pearce, UniSuper’s chief investment officer, used to be Bird’s boss at Colonial.
UniSuper manages about $30 billion and outsources about $24 billion of its assets to outside fund managers.
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