You're in control as to how your money's invested with GESB.
You can invest in any or all of the 5 asset classes.
You can change your asset allocation how and when you like.
Change plan You can change your plan by logging into Member Online. Not sure if this is the right plan for you? Try our Selecting your investment plan tool.
To outperform the plan's benchmark index over rolling 3 year periods.The Mix Your plan Australian Shares benchmark index is S&P/ASX 300 Accumulation Index.
Very high risk (based on Standard Risk Measure bands).
Estimated number of negative annual returns over any 20-year period is greater than 6.
$235 per year in fees and other costs for a member with an account balance of $50,000+.
10 year average annual return of 9.22% as at 30 June 2023.
| Year ending June 30 | Return ^ |
|---|---|
| 2023 | 15.37% |
| 2022 | -3.48% |
| 2021 | 29.48% |
| 2020 | -8.41% |
| 2019 | 9.60% |
| 2018 | 15.24% |
| 2017 | 12.72% |
| 2016 | 2.61% |
| 2015 | 5.94% |
| 2014 | 18.24% |
The graph shows the value of $10,000 invested since 1 July 2014 in the RI Allocated Pension Mix Your plan Australian Shares, when compared to the RI Allocated Pension Cash plan.
The growth in plan balances are net of the investment fees and costs and inclusive of franking credits.
The RI Allocated Pension Mix Your plan Australian Shares is designed for people who can accept a wide range of earnings (both positive and negative) from year to year, and are seeking return and risk characteristics similar to the Australian share market.
The Moving average returns^ are annualised returns over rolling 10 year periods. For years where the full 10 year data is not available, the Moving average return will not be shown.
Estimated number of negative annual returns over any 20 year period is greater than 6. See Risk explained tab above
Return target to outperform the benchmark index* over rolling 3 year periods
10 years or more
$235 per year in fees and other costs for a member with an account balance of $50,000 fully invested in Mix Your plan Australian Shares
No investment can ever be guaranteed to perform well. The nature of investing means there’s always the potential for your investment to lose value from year to year.
Over the long term, you can think of risk as the chance that the rate of return on your investments might not be enough to provide you with the income you’ll need in retirement.
The appropriate level of risk for you will depend on your age, how long you’re investing for, what other assets you might have outside super and how they are invested, and how comfortable you are with the possibility of losing some of your investment in some years.
When choosing your investment plan, the amount of time you want to invest for may impact how much risk you’re willing to take. You don’t need to choose the best performing investment plan. You need the one that best suits your investment personality and your goals.
Generally speaking, the higher the potential return from an asset over time, the higher the potential risk.
The Association of Superannuation Funds of Australia (ASFA) and the Financial Services Council have created the Standard Risk Measure to help members compare the potential risk of various investment plans.
Shown below are the Readymade and Mix Your plans for RI Allocated Pension, and where they sit on the risk scale compared to each other. The plans are positioned on the chart based on their risk level.
You can see that Mix Your plan Australian Shares is higher risk than the Readymade Growth plan. That's because the Growth plan also includes assets like Investment Grade Bonds and Cash which bring the risk down. The combination of high risk and low risk assets set the risk level for each Readymade plan, while you pick your own mix with RI Allocated Pension Mix Your plan.
For more information on investment risk, please refer to the Retirement Income Pension Product Information Booklet.
| Company | Sector | % of assets |
|---|---|---|
| BHP GROUP LTD | MATERIALS | 10.66% |
| COMMONWEALTH BANK OF AUSTRALIA | FINANCIALS | 6.35% |
| CSL LTD | HEALTH CARE | 6.11% |
| NATIONAL AUSTRALIA BANK LTD | FINANCIALS | 4.22% |
| AUSTRALIA & NEW ZEALAND BANKING GROUP LTD | FINANCIALS | 3.60% |
| WESTPAC BANKING CORP | FINANCIALS | 3.02% |
| MACQUARIE GROUP LTD | FINANCIALS | 2.49% |
| TELSTRA CORP LTD | COMMUNICATION SERVICES | 2.45% |
| GOODMAN GROUP | INDUSTRIALS | 2.40% |
| RIO TINTO LTD | ENERGY | 2.29% |
We invest in equity instruments of entities that are listed on the Australian stock market. Investments may be direct or unitised and may include long/short equity funds.
The top stock holdings shown represent 44% of the total holdings for Australian Shares across all our investments.
Please note: any exposure to derivatives for risk management purposes including futures, options, etc are not included in the top stock holdings listing above.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Company | Sector | % of assets |
|---|---|---|
| MICROSOFT CORP | INFORMATION TECHNOLOGY | 4.06% |
| APPLE INC | INFORMATION TECHNOLOGY | 3.56% |
| ALPHABET INC | COMMUNICATION SERVICES | 2.68% |
| AMAZON.COM INC | CONSUMER DISCRETIONARY | 2.22% |
| NVIDIA CORP | INFORMATION TECHNOLOGY | 1.51% |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LT | INFORMATION TECHNOLOGY | 1.38% |
| NOVO NORDISK A/S | HEALTH CARE | 1.33% |
| SAMSUNG ELECTRONIC CO LTD | INFORMATION TECHNOLOGY | 1.28% |
| VISA INC | INFORMATION TECHNOLOGY | 1.25% |
| META PLATFORMS INC | COMMUNICATION SERVICES | 1.12% |
We invest in equity instruments of entities that are listed on a developed or developing country's public stock exchange. Investments may be direct or unitised and may include long/short equity funds.
The top stock holdings shown represent 20% of the total holdings for International Shares across all our investments.
Please note: any exposure to derivatives for risk management purposes including currency, forward exchange contracts, futures, options etc aren't included in the top stock holdings listing above.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
We invest in Private Equity by investing in unlisted Australian Shares, unlisted International Shares and certain types of unlisted Australian and International Equity. This also includes certain types of unlisted Property and debt.
Please note: investments in the Private Equity asset class are only available for Readymade plan options.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | Country | % of assets |
|---|---|---|
| PROLOGIS INC | UNITED STATES | 7.23% |
| EQUINIX INC | UNITED STATES | 5.16% |
| WELLTOWER INC | UNITED STATES | 3.96% |
| DIGITAL REALTY TRUST INC | UNITED STATES | 3.05% |
| REALTY INCOME CORP | UNITED STATES | 3.00% |
| INVITATION HOMES INC | UNITED STATES | 2.22% |
| MITSUI FUDOSAN CO LTD | JAPAN | 2.06% |
| PUBLIC STORAGE | UNITED STATES | 2.03% |
| SIMON PROPERTY GROUP INC | UNITED STATES | 1.97% |
| EQUITY RESIDENTIAL | UNITED STATES | 1.83% |
We invest in unlisted, real Property funds and in Real Estate Investment Trusts (REITs) listed on an Australian or overseas stock exchange. This also includes other listed securities which derive their income predominantly from real Property rents, Capital growth and Property services.
This page details our Listed Property holdings.
Note the Mix Your plan Property option only invests in Listed Property investments, not Unlisted Property.
The top security holdings shown represent 32% of the total holdings for Listed Property across all our investments.
Please note: any exposure to derivatives for risk management purposes including currency, forward exchange contracts, futures, etc are not included in the top security holdings listing.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | Country | % of assets |
|---|---|---|
| LENDLEASE INVESTMENT MANAGEMENT (AUSTRALIA) PTY LTD | AUSTRALIA | 24.07% |
| GPT FUNDS MANAGEMENT LTD | AUSTRALIA | 19.89% |
| INVESCO AUSTRALIA LTD | AUSTRALIA | 19.24% |
| QIC LTD | AUSTRALIA | 11.29% |
| CHARTER HALL | AUSTRALIA | 11.14% |
| DEXUS CAPITAL FUNDS MANAGEMENT LIMITED | AUSTRALIA | 9.64% |
| ABRDN INVESTMENTS | IRELAND | 4.69% |
| PATRIZIA PROPERTY INVESTMENT MANAGERS LLP | UNITED KINGDOM | 0.03% |
We invest in unlisted, real Property funds and in Real Estate Investment Trusts (REITs) listed on an Australian or overseas stock exchange. This also includes other listed securities which derive their income predominantly from real Property rents, Capital growth and Property services.
This page details our Unlisted Property holdings.
Note the Mix Your plan Property option only invests in Listed Property investments, not Unlisted Property.
The top security holdings shown represent 100% of the total holdings for Unlisted Property across all our investments.
Please note: any exposure to derivatives for risk management purposes including currency, forward exchange contracts, futures, etc are not included in the top security holdings listing.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | % of assets |
|---|---|
| MORRISON & CO* | 37.10% |
| IFM INVESTOR* | 21.15% |
| AMERICAN TOWER CORP | 1.74% |
| NEXTERA ENERGY INC | 1.70% |
| TRANSURBAN GROUP | 1.60% |
| PG&E CORP | 1.46% |
| CSX CORP | 1.37% |
| SEVERN TRENT PLC | 1.30% |
| UNION PACIFIC CORP | 1.17% |
| DOMINION ENERGY INC | 1.14% |
We may invest in unlisted Infrastructure assets and funds in Australia and overseas. We may also invest in listed Infrastructure vehicles that trade on both Australian and overseas stock markets.
* This security is classified as unlisted Infrastructure.
The top security holdings shown represent 70% of the total holdings for Infrastructure across all our investments.
Please note: investments in the Infrastructure asset class are only available for Readymade plan options.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | % of assets |
|---|---|
| BLACKROCK MULTI FUND* | 41.02% |
| SCHRODER REAL RETURN FUND* | 29.25% |
| RENAISSANCERE MEDICI FUND LTD* | 11.20% |
| CHALLENGER * | 7.88% |
| LUCALI CLO LTD | 0.12% |
| MIDAS OPCO | 0.12% |
| NUFARM AUSTRALIA LTD | 0.12% |
| LITHIA MTRS INC | 0.12% |
| PMHC II INC | 0.11% |
| DRYDEN 83 CLO LTD | 0.10% |
We may invest in listed and unlisted funds that invest in Medium Risk Alternative asset classes, or that utilise Medium Risk Alternative strategies. The Medium Risk Alternative investments category may include absolute return funds, private debt, high yield debt, commodities and financial derivatives. It can also include investment strategies that gain exposure to traditional asset classes, using dynamic investment approaches.
* This security is classified as a unit trust.
The top security holdings shown represent 90% of the total holdings for Medium Risk Alternatives across all our investments.
Please note: investments in the Medium Risk Alternative asset class are only available for Readymade plan options.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | % of assets |
|---|---|
| COMMONWEALTH OF AUSTRALIA | 12.84% |
| FANNIE MAE | 11.03% |
| NEW SOUTH WALES TREASURY CORP | 4.93% |
| TREASURY CORP OF VICTORIA | 4.02% |
| QUEENSLAND TREASURY CORP | 3.35% |
| GOVERNMENT OF JAPAN | 2.83% |
| AUSTRALIAN GOVERNMENT | 1.62% |
| WESTPAC BANKING CORP | 1.42% |
| NATIONAL AUSTRALIA BANK | 1.36% |
| NBN CO LIMITED | 1.33% |
Investment Grade Bonds include fixed, floating and inflation-linked debt instruments. Please note: the Mix Your plan Fixed Interest option has exposure to the Investment Grade Bonds asset class.
The top issuers shown represent 45% of the total holdings for Investment Grade Bonds across all our investments.
Please note: any exposure to derivatives for risk management purposes including currency, forward exchange contracts, futures, interest rate swaps, etc are not included in the holdings listing.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | % of assets |
|---|---|
| ARDEA REAL OUTCOME FUND* | 29.06% |
| AUSTRALIAN GOVERNMENT | 0.95% |
| NATIONAL AUSTRALIA BANK | 0.88% |
| AGI FINANCE PTY LIMITED | 0.84% |
| NETWORK FINANCE COMPANY PTY LIMITED | 0.82% |
| AUSTRALIA & NEW ZEALAND BANKING GROUP LTD | 0.79% |
| HEARTLAND AUSTRALIA GROUP | 0.65% |
| MME WAREHOUSE TRUST | 0.61% |
| SINTEX RMBS WAREHOUSE TRUST | 0.61% |
| DOWNER GROUP FINANCE | 0.58% |
Defensive Alternatives includes fixed, floating and inflation-linked debt instruments issued by governments and corporations.
* This security is classified as a unit trust.
The top issuers shown represent 36% of the total holdings for Defensive Alternatives across all our investments.
Please note: any exposure to derivatives for risk management purposes including currency, forward exchange contracts, futures, interest rate swaps, etc are not included in the top issuer holdings listing.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | % of assets |
|---|---|
| WESTPAC BANKING CORPORATION | 23.71% |
| COMMONWEALTH BANK OF AUSTRALIA | 23.29% |
| NORTHERN TRUST CORPORATION | 14.13% |
| NATIONAL AUSTRALIA BANK LIMITED | 11.35% |
| SUNCORP GROUP | 5.66% |
| AUSTRALIA & NEW ZEALAND GROUP LTD | 4.15% |
| OCBC BANK | 3.84% |
| BENDIGO & ADELAIDE BANK LTD | 3.00% |
| MACQUARIE INVESTMENT MANAGEMENT LTD | 2.75% |
| BANK OF QUEENSLAND LTD | 1.68% |
Cash includes a range of bank deposits and short-term debt securities issued by Australian governments and corporations.
The top issuers shown represent 94% of the total holdings for Cash across all our investments.
Please note: any exposure to derivatives for risk management purposes are not included in the top issuers holdings listing.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
| Top securities | % of assets |
|---|---|
| ARDEA REAL OUTCOME FUND* | 29.06% |
| AUSTRALIAN GOVERNMENT | 0.95% |
| NATIONAL AUSTRALIA BANK | 0.88% |
| AGI FINANCE PTY LIMITED | 0.84% |
| NETWORK FINANCE COMPANY PTY LIMITED | 0.82% |
| AUSTRALIA & NEW ZEALAND BANKING GROUP LTD | 0.79% |
| HEARTLAND AUSTRALIA GROUP | 0.65% |
| MME WAREHOUSE TRUST | 0.61% |
| SINTEX RMBS WAREHOUSE TRUST | 0.61% |
| DOWNER GROUP FINANCE | 0.58% |
Defensive Alternatives includes fixed, floating and inflation-linked debt instruments issued by governments and corporations.
* This security is classified as a unit trust.
The top issuers shown represent 36% of the total holdings for Defensive Alternatives across all our investments.
Please note: any exposure to derivatives for risk management purposes including currency, forward exchange contracts, futures, interest rate swaps, etc are not included in the top issuer holdings listing.
This portfolio holdings information is correct as at 31 December 2023.
You can also view or download the full list of what we invest in for your plan.
We employ a diversified group of external investment managers to invest your funds. We typically have multiple investment managers in each asset class to mitigate the risk of having a concentrated exposure to a particular investment manager or a particular investment style.
Investing in Australia and overseas is complex - so we use professional investment managers.
Our investment managers specialise in buying, selling and analysing specific types of investments, or asset classes.
Our investment managers buy and sell assets on our behalf. For example, our investment managers for Australian Shares work within our risk guidelines to decide which companies to buy and sell Shares in, and then place orders for those Shares.
This approach means we can use the skills of a range of investment managers from around the world without having too much influence from a particular manager or investment style. It allows us to maintain a balance of assets across a range of investment managers, which helps us to achieve our investment goals over the long term.
Our asset consultant has an in-depth understanding of investment markets and uses a thorough and detailed process to find the right investment managers. Our asset consultant looks for the investment managers which have defined investment approaches and are most likely to help us achieve long-term returns.
We regularly review our choice of investment managers. We check their risk and return profiles and make sure that they meet our expectations.
For more information see our investment governance statement and approach to responsible investing.
Under the State Superannuation Act 2000, the State Treasurer needs to approve:
We’ve listed the investment managers we use for each asset class. Find out more about each investment manager, including an interesting fast fact.
Fast fact:
Allan Gray Australia applies a distinctive investment strategy, known as ‘contrarian investing’, and searches for investment opportunities that others may have overlooked or undervalued.
Mandate:
To manage an active portfolio of Australian equities.
Allan Gray believes that to outperform the market over the long term, it needs to do things differently. The company has a distinctive yet simple investment philosophy – to take a contrarian approach, apply it consistently and invest for the long term.
As contrarian investors, Allan Gray doesn’t follow popular opinion. Instead, it searches in places others overlook or undervalue and scrutinises opportunities that aren’t necessarily obvious. This means Allan Gray portfolios can look significantly different to their peers, offering diversification and the opportunity to grow wealth.
This is how Allan Gray has been investing in Australia since 2005 and how the broader group has been investing globally since 1973. Allan Gray applies the same long-term, contrarian philosophy year after year, so its clients know what to expect – and this philosophy will never change.
Being privately-owned keeps Allan Gray focused on what’s best for its clients. This means it can be truly independent and bolder in its pursuit of long-term investment opportunities.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage an indexed portfolio of Australian equities.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. It helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles.
BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. The firm has a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
BlackRock is committed to becoming the most respected investment and risk manager in the Australian market. They are an integrated asset management business with locally based investment, risk management, and client service functions.
Fast fact:
Pendal’s Australian equity portfolios are managed in a ‘core’ investment style. This enables Pendal to deliver consistent outperformance, regardless of market trends, through active stock selection and company research.
Mandate:
To manage an active portfolio of Australian equities.
Pendal Institutional Limited (Pendal) is a global investment management firm focused on delivering investment returns for its clients through active management.
Pendal offers investors a range of Australian and international investment choices, including shares, property securities, fixed income and cash strategies, as well as multi-asset and responsible investments. To complement its in-house expertise, Pendal also partners with other leading global investment managers.
Pendal operates a multi-boutique style business across a global marketplace through a meritocratic investment-led culture. Its experienced, long-tenured fund managers have the autonomy to offer a broad range of investment strategies with high conviction based on an investment philosophy that fosters success from a diversity of insights and investment approaches.
Pendal’s investment teams are supported by a strong operational platform across risk and compliance, sales, marketing and operations, allowing fund managers to focus on generating returns for Pendal’s clients.
Pendal is a wholly owned subsidiary of Perpetual Limited.
Fast fact:
Perpetual Investment Management Limited adopts an investment style based on bottom-up fundamental analysis, seeking quality companies with sound management, conservative debt levels, recurring earnings and a quality business.
Mandate:
To manage an active portfolio of Australian equities.
Part of the Perpetual Group, which has been in operation for more than 130 years, Perpetual Investment Management Limited, via Perpetual Asset Management Australia (PAMA), is one of Australia's leading investment managers. By employing some of the industry's best investment specialists and applying a proven investment philosophy, Perpetual has been able to help generations of Australians manage their wealth.
With one of Australia's largest, most well-resourced and experienced investment teams, PAMA offers investors expertise across four major investment capabilities: Australian Equities; Global Equities; Cash, Credit and Fixed Income; and Multi Asset strategies.
PAMA’s Australian Equities investment management approach is to make active investment decisions based on intensive analysis of an investment's quality, value and risk. Rather than trying to predict where markets are heading - the investment teams simply try to choose the best quality investments at prices that represent good value, based on their potential risks and returns.
Fast fact:
The empowered analyst model is designed to produce long-term consistent alpha generation with crystal clear performance attribution. Solaris is a bottom up, style-neutral Australian equity manager that designates analysts to be the portfolio manager for their sector.
Mandate:
To manage an active portfolio of Australian equities.
Solaris is a highly experienced, style-neutral Australian Equities funds manager with a tried and tested investment process forged over two decades. Servicing a variety of clients, Solaris provides investment management for institutional, family office and platform investors. It offers core, concentrated, environmental, social and governance (ESG), long short, income and after-tax strategies to suit specific investor needs and objectives.
The Solaris investment process identifies stocks with the best expected return, regardless of perceived style. Solaris pick stocks using fundamental analysis to exploit market inefficiencies in forecasts and valuations. To optimise the conversion of fundamental research into investment portfolios, Solaris empowers their analysts by combining their analytical role with that of portfolio manager. This combination ensures the portfolio is constructed purely from the ground-up using the knowledge and skill of the people at the analytical 'coal face'. The analyst is responsible for the stock-picking decision from beginning to end and is held accountable by reference to performance attribution. This performance attribution then drives their annual remuneration outcomes. The use of multiple portfolio-manager/analysts also diversifies the decision-making process, delivering more consistent outperformance, together with lower key-person risk.
Fast fact:
Spheria Asset Management Pty Limited (Spheria) has developed a leading-edge technology system that allows it to efficiently review and analyse a company’s financial history using data from third-party providers. This provides Spheria with a consistent template to model listed companies in Australia, New Zealand and many international markets.
Mandate:
To manage an active portfolio of Australian small to medium-sized capitalisation equities.
Established in 2016, Spheria is a fund manager with a focus on delivering strong investment performance for its clients at the small to medium-sized end of the share market.
Spheria apply disciplined fundamental, bottom-up analysis in order to build portfolios of exceptional smaller businesses in Australia and across the globe. Spheria have a strong focus on identifying risk, and identifying robust businesses with strong through-the-cycle cash flow.
Fast fact:
Vinva is a quantitative style manager.
Mandate:
To manage an active portfolio of Australian equities.
Vinva Investment Management Limited (Vinva) is an independent, privately owned investment management firm specialising in managing active equity strategies, which include long-only, long-short and market neutral strategies across Australia, Asia Pacific and global equity markets.
Established in July 2010, the investment team at Vinva is stable and has a wealth of experience. Including their time at Barclays Global Investors, the team has worked together for nearly two decades with a proven track record of managing equities on behalf of institutional clients.
The firm utilises a systematic approach to investing. They bring sound economic insights and an in-depth market understanding, combined with adopting a disciplined and quantitatively driven style. Vinva uses a leading edge, proprietary investment technology platform to manage large quantities of information quickly, and to systematically implement the alpha opportunities into highly diversified portfolios.
Vinva’s investment portfolios exploit a wide range of market inefficiencies and are designed to exhibit a neutral style over time. Their objective is to deliver top performance irrespective of the market cycle.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage indexed portfolios of global equities.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. It helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles.
BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. The firm has a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
BlackRock is committed to becoming the most respected investment and risk manager in the Australian market. They are an integrated asset management business with locally based investment, risk management, and client service functions.
Fast fact:
CAM refers to their investment approach as trend-based stock picking. It is a trend/theme influenced top-down framework combined with a bottom-up stock-picking approach.
Mandate:
To manage an active portfolio of global equities.
C Worldwide Asset Management (CAM) is a Danish-based global equity investment manager, founded in 1986. The firm's objective is to deliver consistent long-term asset growth for clients.
CAM's unique portfolio management style is based on careful stock picking and long-term global trends. The most distinctive feature of its investment philosophy, which has remained unchanged since the firm's inception, is its 30-high conviction stock target.
Its relatively concentrated portfolio ensures a disciplined and focused approach emphasising selectivity. Importantly, a focused portfolio results in a disciplined buy and sell approach based on the 'one-in, one-out' better alternative principle.
CAM believes that by focusing on the long-term structural environment and selected global themes and trends, coupled with a long holding period when investing, the best risk-adjusted return can be achieved. Finding and investing in a select few good ideas is the key to how the firm adds value over the long term.
Fast fact:
All of Causeway's strategies are managed through a fusion of fundamental and quantitative research disciplines.
Mandate:
To manage an active portfolio of global equities.
Causeway Capital Management LLC is a 100% employee and former employee-owned investment management firm based in Los Angeles, CA. Causeway specialise in managing global, international and emerging market equity strategies across the market capitalisation spectrum. The firm’s mission is to provide clients with superior risk-adjusted returns, while maintaining a culture of responsibility and accountability.
Causeway believes its fusion of fundamental and quantitative research gives the firm a global knowledge advantage, which it puts to work efficiently for its clients. The firm’s value strategies employ a deeply ingrained research culture in which ideas are debated vigorously. They are a signatory of the UN Principles of Responsible Investment and incorporate proprietary ESG analysis into their research mosaic. This creates an environment that fosters unconventional thinking and innovative insights.
Causeway’s research team has a 30+ year track record (including its predecessor firm) of continuity of its principals. This has led to stability of personnel, investment style, clients and intellectual perspective. A comprehensive research department of fundamental and quantitative analysts supports its global equity strategies that are managed by a team of portfolio managers.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international equity portfolio.
Mesirow Currency Management (MCM) develops custom currency solutions through its deep experience with global institutional clients. MCM aligns its business with clients’ interests to form long-term strategic partnerships and continuously explores how the firm can apply its currency expertise to develop new products and strategies, and provide clients with thoughtful, relevant, and independent solutions. MCM’s team makes the most of their understanding of clients and their specific requirements to tailor products and services to suit their needs. Long-term, strategic relationships with its global clients are an integral part of its corporate culture, at the root of the firm’s success, and result in a compelling combination of industry expertise and solutions-based products.
Founded in 1937, Mesirow is a Chicago based diversified financial services firm with offices around the globe and is proud to be a signatory to the UNs Principles for Responsible Investing (UNPRI) and to the FX Global Code of Conduct. Furthermore, the characteristics of an independent, employee-owned firm, coupled with significant infrastructure and resources specifically designed to support an alternative investment management business, firmly sets Mesirow apart from its peers and allows the Firm to sustain its competitive advantage.
Fast fact:
Ninety One is a specialist investment manager.
Mandate:
To manage an active portfolio of emerging market equities.
Ninety One is an active, global investment manager. Their goal is to provide long-term investment returns for clients while making a positive difference to people and the planet.
Established in South Africa in 1991, as Investec Asset Management, the firm began as a small start-up offering domestic investments in an emerging market. In 2020, as a global firm proud of its emerging market roots, we demerged to become Ninety One.
Ninety One is committed to developing specialist investment teams organically. Its heritage and approach let them bring a different perspective to active and sustainable investing across Equities, Fixed Income, multi-asset and alternatives to our clients – institutions, advisors and individual investors around the world.
Fast fact:
Schroders is a quantitative value and quality style manager.
Mandate:
To manage an active portfolio of global equities.
As an investment manager, Schroders makes decisions every day on behalf of investors around the world. With over 200 years of experience, Schroders has over 5,750 people based in 38 locations around the world. Clients include direct investors and those who invest through an adviser. Schroders also serves the investment needs of institutions such as superannuation funds, insurance companies and charities.
Established in 1961, Schroders in Australia is a wholly owned subsidiary of UK-listed Schroders plc, and aims to provide excellent investment performance to clients through active decision making. Schroders strives to actively select companies with responsible and durable business models; those that are evolving to survive and thrive through the challenges ahead.
Investors’ interests are at the heart of decision-making, which is fuelled by proprietary in-house global research. Schroders' belief is that rigorous research has the potential to translate into superior investment performance. Inherent in the Schroders approach to investment management is a structured, disciplined and repeatable investment process, a clearly defined investment style, and a diverse and experienced investment team with an independent view. Schroders is also dedicated to building a sustainable future, with a number of sustainability factors integrated into the company's investment processes.
Fast fact:
Vinva is a quantitative style manager.
Mandate:
To manage an active portfolio of global equities.
Vinva Investment Management Limited (Vinva) is an independent, privately owned investment management firm specialising in managing active equity strategies, which include long-only, long-short and market neutral strategies across Australia, Asia Pacific and global equity markets.
Established in July 2010, the investment team at Vinva is stable and has a wealth of experience. Including their time at Barclays Global Investors, the team has worked together for nearly two decades with a proven track record of managing equities on behalf of institutional clients.
The firm utilises a systematic approach to investing. They bring sound economic insights and an in-depth market understanding, combined with adopting a disciplined and quantitatively driven style. Vinva uses a leading edge, proprietary investment technology platform to manage large quantities of information quickly, and to systematically implement the alpha opportunities into highly diversified portfolios.
Vinva’s investment portfolios exploit a wide range of market inefficiencies and are designed to exhibit a neutral style over time. Their objective is to deliver top performance irrespective of the market cycle.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international equity portfolio.
Mesirow Currency Management (MCM) develops custom currency solutions through its deep experience with global institutional clients. MCM aligns its business with clients’ interests to form long-term strategic partnerships and continuously explores how the firm can apply its currency expertise to develop new products and strategies, and provide clients with thoughtful, relevant, and independent solutions. MCM’s team makes the most of their understanding of clients and their specific requirements to tailor products and services to suit their needs. Long-term, strategic relationships with its global clients are an integral part of its corporate culture, at the root of the firm’s success, and result in a compelling combination of industry expertise and solutions-based products.
Founded in 1937, Mesirow is a Chicago based diversified financial services firm with offices around the globe and is proud to be a signatory to the UNs Principles for Responsible Investing (UNPRI) and to the FX Global Code of Conduct. Furthermore, the characteristics of an independent, employee-owned firm, coupled with significant infrastructure and resources specifically designed to support an alternative investment management business, firmly sets Mesirow apart from its peers and allows the Firm to sustain its competitive advantage.
Fast fact:
The firm covers the global private markets across multiple sectors and operates from 24 offices in 15 countries.
Mandate:
To manage a global private equity portfolio.
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customised solutions and advisory, data and administrative services to its clients.
As of September 30 2022, StepStone oversaw US$602 billion of private market allocations, including US$135 billion of assets under management. StepStone’s clients include some of the world's largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients.
StepStone partners with its clients to develop and build private market portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt, and real estate asset classes.
Fast fact:
abrdn has £43.2 billion under management in real estate, investing in 22 countries, with over 220 real estate professionals and a focus on ESG.
Mandate:
To manage a portfolio of European unlisted property assets.
Created in 2017 from the merger of Standard Life PLC and Aberdeen Asset Management PLC, Standard Life Aberdeen PLC is one of the world’s largest investment companies. Operating under the brand abrdn, the investment arm manages €500 billion of assets making it one of the largest active investment managers in Europe.
The abrdn real estate division manages approximately €43 billion of assets in direct real estate, listed real estate, multi-manager and commercial real estate debt. They have a dedicated team of approximately 220 real estate investment professionals, investing in 22 countries and have a focus on ESG.
abrdn is a real estate solutions provider working with global investors to deliver their real estate strategies.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage an indexed portfolio of global listed property securities.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. It helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles.
BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. The firm has a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
BlackRock is committed to becoming the most respected investment and risk manager in the Australian market. They are an integrated asset management business with locally based investment, risk management, and client service functions.
Fast fact:
As of 31 December 2022, Charter Hall had more than $3 billion invested alongside their capital partners, because they believe that fundamental to long-term success, is mutual success.
Mandate:
To manage a portfolio of domestic unlisted property assets.
Charter Hall is one of Australia’s leading fully integrated property investment and funds management groups. The firm uses its expertise to access, deploy, manage and invest equity to create value and generate superior returns for its investor customers. They have curated a diverse portfolio of high-quality properties across its core sectors – Office, Industrial & Logistics, Retail and Social Infrastructure. With partnerships and financial discipline at the heart of their approach, Charter Hall creates and invests in places that support its customers, people and communities grow.
Fast fact:
Dexus is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $61.0 billion.
Mandate:
To manage a portfolio of assets in the unlisted retail property sector.
Dexus (ASX: DXS) is a leading Australasian fully integrated real asset group, managing high-quality Australasian real estate and infrastructure, with a portfolio valued at $61.0 billion (pro forma post final completion of the AMP Capital acquisition). At the core of their success lies the firm belief in nurturing relationships deeply connected to their purpose: unlock potential, create tomorrow.
Dexus possess $17.4 billion in office, industrial, healthcare, retail and infrastructure assets. Additionally, their funds management business oversees $43.6 billion in investments, offering third-party capital exposure to high-quality, sector-specific, and diversified real asset products. With a proven track record of performance, these funds leverage Dexus’ capabilities. Additionally, the group’s $17.4 billion real estate development pipeline presents opportunities for portfolio growth and increased returns.
Supported by over 34,000 investors across 25 countries and decades of expertise, Dexus excels in property investment, funds management, asset management, and development, demonstrating proficiency in capital and risk management as well as delivering returns for its investors.
Dexus is dedicated to a sustainable future, focusing on customer prosperity, climate action, and community enhancement. As part of its expansion, the AMP Capital Shopping Centre Fund is now rebranded as the Dexus Wholesale Shopping Centre Fund.
Fast fact:
The GPT Group (GPT), was Australia’s first property trust when it listed on the Australian Securities Exchange in 1971.
Mandate:
To manage a portfolio in the unlisted office property sector.
GPT owns and actively manages a $32.4 billion portfolio of high quality Australian office, logistics and retail assets, using its vertically integrated real estate platform to enhance returns through property management, funds management and development capabilities.
With $19.1 billion of assets under management, GPT’s Funds Management platform comprises two unlisted wholesale property trusts - GPT Wholesale Office Fund (GWOF) and GPT Wholesale Shopping Centre Fund.
GWOF have a diverse 632,000 square metre portfolio of 17 prime office buildings and 4 development sites, with a gross asset value of $9.7 billion as at 31 December 2022.
The Fund seeks to deliver stable, income driven returns and capital appreciation, targeting a long term equity internal rate of return exceeding 8% per annum (post fees).
Leadership in environmental sustainability is a strategic priority for GWOF, with a policy to maintain carbon neutral operation and minimise embodied carbon in new developments. GWOF also maintains a rigorous commitment to corporate governance with a majority independent Board and an Investor Representation Committee.
Fast fact:
Invesco is an independent firm, solely focused on investment management. They direct all their intellectual capital, global strength and operational stability towards helping investors achieve their long-term financial objectives.
Mandate:
To manage a portfolio of US core, unlisted real estate assets.
Invesco Ltd is a leading independent global investment firm solely focused on investment management. They direct all their intellectual capital, global strength and operational stability towards helping investors achieve their long-term financial objectives.
Headquartered in Atlanta, USA, the firm has assets under management of approximately AUD$2.05 trillion (as at 30 September 2022) and is listed on the New York Stock Exchange (NYSE Code IVZ). Founded in 1935, today Invesco Ltd serves clients around the globe, with an on-the-ground presence in 26 countries. Invesco Ltd has more than 8,600 employees worldwide including more than 800 investment professionals. Invesco’s clients benefit from a commitment to investment excellence, a strong depth of investment capabilities, and organisational strength.
Invesco’s specialised active offerings for Australian investors include Australian equities (quantitative; long-only, smaller companies, efficient income); fixed income (global aggregate, senior secured loans, direct lending, distressed credit); global equities (quantitative, fundamental high conviction); and alternatives (direct property – equity and debt, balanced risk). Invesco also manages global and Australian passive index mandates for Australian investors.
Fast fact:
Lendlease’s Australian funds management platform is a leader in sustainability and each of its flagship funds has a responsible property investment strategy in place.
Mandate:
To manage a portfolio of assets in the unlisted retail and office property sectors.
Lendlease is committed to creating and investing in innovative and sustainable property solutions for future generations. Operating across Australia, Asia, Europe and the Americas, its people and partners underpin its ability to deliver on its purpose: to create places where communities thrive.
Lendlease’s mission is to shape cities, create connected communities and deliver workplaces of the future, right around the world. They’re focused on what and how they can positively contribute. Lendlease believes in positive actions driven from an understanding that every decision made has an impact, and aims to generate sustainable social, economic, and environmental returns.
For decades, the Investment Management business has been managing funds and assets for investors across many property sectors. The key point of difference for the investments segment is the high quality and sustainable product created through their integrated model, which offers diverse, long term investment choices on a global scale.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international equity portfolio.
Mesirow Currency Management (MCM) develops custom currency solutions through its deep experience with global institutional clients. MCM aligns its business with clients’ interests to form long-term strategic partnerships and continuously explores how the firm can apply its currency expertise to develop new products and strategies, and provide clients with thoughtful, relevant, and independent solutions. MCM’s team makes the most of their understanding of clients and their specific requirements to tailor products and services to suit their needs. Long-term, strategic relationships with its global clients are an integral part of its corporate culture, at the root of the firm’s success, and result in a compelling combination of industry expertise and solutions-based products.
Founded in 1937, Mesirow is a Chicago based diversified financial services firm with offices around the globe and is proud to be a signatory to the UNs Principles for Responsible Investing (UNPRI) and to the FX Global Code of Conduct. Furthermore, the characteristics of an independent, employee-owned firm, coupled with significant infrastructure and resources specifically designed to support an alternative investment management business, firmly sets Mesirow apart from its peers and allows the Firm to sustain its competitive advantage.
Fast fact:
PATRIZIA is the leading global partner for pan-European real estate investment.
Mandate:
To manage a portfolio of UK unlisted property assets.
PATRIZIA is a fully independent, focused real assets investment manager that acts as a fiduciary and provider of European real estate assets for a global capital base. The company was founded in 1984 by Wolfgang Egger, who remains majority shareholder and personally committed as CEO to this day.
PATRIZIA spans a network of more than 850 professionals in 24 global office locations (19 of which are in Europe). This gives the company a truly local footprint in Europe and makes it a highly resourceful investment and asset management organisation. As of Q2 2019, PATRIZIA had total real assets worth circa €41 billion in discretionary and advisory mandates under management. The majority of pan-European real estate investments are managed on a third-party basis in the form of commingled funds, separate accounts or joint venture structures.
With a long-standing track record of successful merger and acquisition activity, PATRIZIA has evolved into one of Europe’s top real estate investment management platforms with select product offering, ‘on-the-ground’ presence and substantial investor insight.
In addition, the company is taking a tech leadership role in the industry, actively digitalising the business in order to achieve both economies of scale and excellent client service. This effort is driving further innovation and growth, firm-wide, as PATRIZIA continues its transformation.
Fast fact:
QIC is a Queensland Government-owned corporation.
Mandate:
To manage a portfolio of assets predominantly in the unlisted retail sector.
QIC is a trusted Australian-based investment manager and advisor, providing risk-adjusted returns for the clients they serve.
Created in 1991 by the Queensland Government to serve its long-term investment responsibilities, QIC has grown into a leading long-term specialist manager in alternatives. They deliver to over 125 like-minded investors across the globe. QIC’s Queensland Government ownership has afforded them the stability to apply to a long-term view to whole-of-fund investing and produced a 30-year heritage of serving the enduring investment needs of sovereign and institutional investors.
QIC's investment capabilities and active management ethos are relevant for today’s investment landscape. Their local and global networks give them access to quality alternative assets with a focus on infrastructure, real estate (including natural capital) and private capital.
QIC's heritage as an alternatives specialist with a long-term investor mindset informs everything they do and has enabled them to become the visionary asset manager the company is today. It’s an integral part of their business, and is why over AUD$97.9 billion of people’s dreams are entrusted with QIC.
The QIC Town Centre Fund is a high quality retail real estate portfolio worth AUD$5.6 billion (as at 31 December 2022), positioned to deliver sustainable income and strong capital returns.
Fast fact:
Resolution Capital adopts a multi-portfolio manager approach for its portfolio construction.
Mandate:
To manage a diversified portfolio of global listed property securities.
Resolution Capital Limited is a specialist global real estate securities manager with a successful long-term investment track record and strong culture of fiduciary responsibility.
Resolution Capital, established in 2004, is headquartered in Sydney, Australia and maintains an office in New York. It believes that listed real estate is an excellent means of gaining exposure to the underlying returns of some of the world's highest quality real estate assets in a simple, transparent, liquid and tax-efficient form.
Resolution Capital is a fundamental oriented investment manager with the objective of delivering superior risk-adjusted long-term returns, compared with recognised industry benchmarks. The firm achieves this by investing in a concentrated portfolio of carefully selected listed real estate securities, with an emphasis on avoiding fundamental flaws that could reasonably result in permanent impairment of the underlying investments. This aligns the firm's investment process and security selection with clients' objectives of long-term real wealth creation and avoids a culture of index hugging.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage an indexed portfolio of global listed infrastructure securities.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. It helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles.
BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. The firm has a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
BlackRock is committed to becoming the most respected investment and risk manager in the Australian market. They are an integrated asset management business with locally based investment, risk management, and client service functions.
Fast fact:
ClearBridge’s infrastructure team are infrastructure specialists managing funds, not fund managers managing infrastructure.
Mandate:
To manage an active portfolio of globally-listed infrastructure securities.
ClearBridge Investments is committed to delivering superior risk-adjusted investment performance through authentic active management that incorporates ESG integration. As a global brand, ClearBridge Investments provides investment management and advisory services across a suite of equity portfolios and solutions covering a range of asset classes and investment styles.
The specialist infrastructure investment team in Australia are dedicated to identifying and investing in the best infrastructure assets in the global listed equity markets, with the goal of delivering strong risk adjusted returns over an investment cycle. This investment process is founded on fundamental research undertaken within a rigorous analytical framework.
The infrastructure team focuses on shares in companies around the world that are essential for economies to function and prosper. They believe that global listed infrastructure offers the potential for lower volatility, stable cash flow, inflation protection, diversification and liquidity.
ClearBridge Investments has been a signatory to the UN Principles of Responsible Investment since 2008 and is owned by Franklin Resources, Inc. The specialist infrastructure investment team was established in 2006.
Fast fact:
IFM invests on behalf of many Australian super funds with members collectively representing more than half of all Australian workers.
Mandate:
To manage a portfolio of global, unlisted infrastructure assets.
IFM Investors is an investor-owned global fund manager. Established by a group of Australian industry super funds more than 25 years ago, the company exists to protect and grow the long-term retirement savings of their members. Aligned with the objectives of its founders, IFM prioritises the interests of its investors by focusing on investments that seek to deliver strong net returns over the long term. IFM’s investment strategy centres on the ownership and operation of community infrastructure, and holdings in four asset classes – infrastructure, debt, listed equities and private equity.
IFM Investors is a pioneer and leader in infrastructure investing. It owns and operates critical infrastructure assets, generating wide-ranging social and economic benefits to communities across the globe. Backed by more than 25 years of infrastructure investment experience, today IFM’s team of over 100 infrastructure specialists manage investments across 34 portfolio companies that collectively employ more than 50,000 people. The company supports the Paris Agreement goal to limit the rise of global temperature and is proactively working with their assets to lower greenhouse gas emissions, targeting net zero carbon emission by 2050. In addition, they champion the consideration of labour rights issues, diversity and inclusion, fair taxation and customer and community stewardship.
IFM Investors invests on behalf of pension funds that collectively manage the retirement savings of more than 120 million working people worldwide.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international equity portfolio.
Mesirow Currency Management (MCM) develops custom currency solutions through its deep experience with global institutional clients. MCM aligns its business with clients’ interests to form long-term strategic partnerships and continuously explores how the firm can apply its currency expertise to develop new products and strategies, and provide clients with thoughtful, relevant, and independent solutions. MCM’s team makes the most of their understanding of clients and their specific requirements to tailor products and services to suit their needs. Long-term, strategic relationships with its global clients are an integral part of its corporate culture, at the root of the firm’s success, and result in a compelling combination of industry expertise and solutions-based products.
Founded in 1937, Mesirow is a Chicago based diversified financial services firm with offices around the globe and is proud to be a signatory to the UNs Principles for Responsible Investing (UNPRI) and to the FX Global Code of Conduct. Furthermore, the characteristics of an independent, employee-owned firm, coupled with significant infrastructure and resources specifically designed to support an alternative investment management business, firmly sets Mesirow apart from its peers and allows the Firm to sustain its competitive advantage.
Fast fact:
Morrison is one of the world's longest standing, highest performing infrastructure investors. Morrison applies its specialist investment approach, refined over multiple decades and economic cycles, to invest in infrastructure for the modern economy.
Mandate:
To manage a portfolio of global, unlisted infrastructure assets.
Founded in 1988, Morrison is a leading global infrastructure manager, investing across the risk spectrum in both private and listed markets. Morrison manages approximately AUD$35.8 billion in consolidated assets on behalf of its clients (as at 30 Sep 2023).
Its purpose is to invest wisely in ideas that matter. It believes the best investments serve an enduring societal need and has a firm commitment to sustainability.
Morrison established the NZX/ASX-listed infrastructure investment vehicle, Infratil Limited, in 1994, which it continues to successfully manage today. Infratil’s current portfolio includes assets in Australia, New Zealand, the US, UK, Europe and Asia. Morrison also manages a global infrastructure portfolio on behalf of sovereign wealth funds, pension funds and other public and private pools of capital.
Morrison has offices in Sydney, Wellington, Auckland, Melbourne, London and Singapore. It delivers a wide suite of investment, portfolio construction and asset management services for its clients.
Fast fact:
Bain Capital Credit is a specialist high yield credit manager.
Mandate:
To manage an active portfolio of high yield credit securities.
Bain Capital Credit is a leading global credit specialist. Their global investment team sources, analyses, documents, and executes on attractive credit opportunities across North America, Europe and Asia-Pacific. The company invests across the credit spectrum and in credit-related strategies. These include leveraged loans, high-yield bonds, structured products, private middle market loans, bespoke capital solutions, distressed securities and assets, non-performing loans, hard assets and equities.
The cornerstone of Bain Capital Credit's investment philosophy is to generate attractive risk-adjusted returns for investors through rigorous due diligence at the industry, company and individual security level. The team seeks to maximise expected, not potential, returns through a ‘bottom-up’ approach to security selection that leverages the depth and experience of their investment team.
Bain Capital Credit partners with institutions from around the world, ranging from pension funds to endowments and foundations to sovereign wealth funds. Since Bain Capital Credit’s inception in 1999, the team has formed a strong sense of alignment with their partners. As a private partnership, Bain Capital Credit invests a significant amount of their own capital alongside limited partners.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage a multi-strategy absolute return fund.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. It helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles.
BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. The firm has a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
BlackRock is committed to becoming the most respected investment and risk manager in the Australian market. They are an integrated asset management business with locally based investment, risk management, and client service functions.
Fast fact:
Challenger Investment Management Fixed Income specialises in Australian private and public credit.
Mandate:
To manage an Australian, private credit portfolio.
Challenger Investment Management (Challenger) Fixed Income is an experienced investment manager with a strong track record of managing a diverse fixed income portfolio and funds under management of AU$16.5 billion.
Challenger’s expertise is in global developed market bonds and private lending in Australian and New Zealand with a focus on performing credit. The team has been at the forefront of both public and private credit markets for over 10 years.
Serving a range of clients both domestically and globally, Challenger IM Fixed Income seeks to drive performance through the harvesting of credit, liquidity and complexity risk premiums. The company’s clients benefit from the significant operational resources and regulatory oversight as part of its broader Challenger business.
As a signatory to the Principles of Responsible Investment, Challenger believes that incorporating environmental, social and governance (ESG) factors in investment decisions can improve outcomes for clients by promoting sustainable business practices and reducing the risk of investments.
Fast fact:
RenaissanceRe is a global provider of reinsurance and insurance. RenaissanceRe’s Capital Partners team offers investment opportunities in insurance-linked instruments that have low correlation to the broader securities market.
Mandate:
To manage a diversified portfolio of insurance-linked securities.
The Capital Partners team at RenaissanceRe is one of the first, largest and most respected investment managers in the reinsurance industry. The team matches desirable reinsurance risk with efficient capital, offering their investors access to risk, proven risk insight, underwriting expertise and an alignment of interests. With a focus on long-term partnerships, excellent service and bringing high-quality capacity to the market, the Capital Partners team delivers a differentiating model.
Through various funds, RenaissanceRe’s Capital Partners team manages an attractive portfolio of diversified insurance-linked instruments that have low correlation with the broader securities markets, through sophisticated risk selection, trading, and portfolio management. Their funds invest in various insurance-linked instruments that have returns primarily correlated to property catastrophe risk. The Capital Partners team believes the most important drivers of success are thorough risk analysis of investment opportunity and robust portfolio construction. They draw upon RenaissanceRe’s extensive underwriting and risk modeling resources. In addition, RenaissanceRe maintains a sizable investment alongside its investors, to align interests and provide a long-term capital commitment.
Fast fact:
Schroders specialise in asset management.
Mandate:
To manage a diversified portfolio of securities and asset classes with an inflation plus four to five percent return objective.
As an investment manager, Schroders makes decisions every day on behalf of investors around the world. With over 200 years of experience, Schroders has over 5,750 people based in 38 locations around the world. Clients include direct investors and those who invest through an adviser. Schroders also serves the investment needs of institutions such as superannuation funds, insurance companies and charities.
Established in 1961, Schroders in Australia is a wholly owned subsidiary of UK-listed Schroders plc, and aims to provide excellent investment performance to clients through active decision making. Schroders strives to actively select companies with responsible and durable business models; those that are evolving to survive and thrive through the challenges ahead.
Investors’ interests are at the heart of decision-making, which is fuelled by proprietary in-house global research. Schroders' belief is that rigorous research has the potential to translate into superior investment performance. Inherent in the Schroders approach to investment management is a structured, disciplined and repeatable investment process, a clearly defined investment style, and a diverse and experienced investment team with an independent view. Schroders is also dedicated to building a sustainable future, with a number of sustainability factors integrated into the company's investment processes.
Fast fact:
Macquarie is one of the largest fixed interest managers in the Australian market.
Mandate:
To manage an active portfolio of Australian investment grade government bonds and credit securities.
Macquarie Investment Management Global Limited forms part of Macquarie Asset Management Public Investments, a division of Macquarie Asset Management which is Macquarie Group’s asset management business.
Macquarie Asset Management Public Investments delivers a full-service offering across a range of asset classes including fixed interest, listed equities (domestic and international), listed real estate securities and infrastructure securities to both institutional and retail clients in Australia and the US, with selective offerings in other regions.
Fast fact:
PIMCO is one of the world’s premier fixed income investment managers.
Mandate:
To actively manage a portfolio of investment grade global government bonds and global credit securities.
PIMCO was founded in 1971 in Newport Beach, California. PIMCO has offices across the globe, with 3,384 professionals united by a single purpose: creating opportunities for investors in every environment.
PIMCO introduced investors to a total return approach to fixed income investing. In the 50+ years since, PIMCO has continued to bring innovation and expertise to their partnership with clients seeking the best investment solutions.
PIMCO partners with a wide range of institutions, including corporations, central banks, universities, endowments and foundations, and public and private pension and retirement plans.
PIMCO also works with financial advisers and millions of individual investors pursuing personal financial goals. This ranges from preparing for retirement, to funding higher education. Investing clients’ assets is a huge responsibility, that PIMCO don’t take lightly. PIMCO works relentlessly to help investors reach their goals.
Fast fact:
Wellington is one of the world's largest independent investment management firms.
Mandate:
To manage an active portfolio of investment grade global government bonds and credit securities.
Tracing its history to 1928, Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,400 clients in more than 60 markets. The firm manages more than US$1 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients (as of 30 September 2022). As a private partnership whose only business is investment management, the firm is able to align its long-term views and interests with those of its clients. The firm offers comprehensive investment management capabilities that span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, sustainable investing, and alternative strategies.
With more than 900 investment professionals located in offices around the world, Wellington pairs deep multi-disciplinary research resources with independent investment teams operating in an entrepreneurial ‘boutique’ environment.
Fast fact:
Ardea is a fixed income manager specialising in pure ‘relative value’ strategies.
Mandate:
To manage a portfolio of primarily government, fixed income securities that are rated investment grade.
Founded in 2008, Ardea Investment Management is one of Australia’s largest fixed income investment managers, entrusted with managing over $20 billion on behalf of clients, including Australia’s most sophisticated institutional investors. Ardea adopts a unique ‘relative value’ investment approach which targets reliable risk-adjusted returns that are independent of market direction and exhibit low correlation to broader fixed income and equity markets. This combines the safety of investing in high quality government bonds with proven risk management strategies that protect capital from interest rate fluctuations and general market volatility. The firm maintains majority ownership by its employees to foster both the long-term alignment of interests with clients and the stability of the investment team, which possesses longevity and diverse experience across global fixed income markets.
Ardea’s Real Outcome Fund adopts the ‘relative value’ investment strategy to access a wide range of fixed income return sources that are not affected by the level or direction of interest rates. The Fund seeks to deliver stable returns that are independent of the broader fixed income and equity market fluctuations. The Fund also applies sophisticated risk management strategies that are specifically designed to profit in volatile markets.
Fast fact:
Founded in 2017, Daintree has become one of the fastest growing Australian fixed income boutiques.
Mandate:
To manage an absolute return portfolio of primarily investment grade, fixed income securities.
Daintree Capital is a specialist global, absolute return, fixed income manager. Daintree is part of Perennial Partners’ Multi Boutique Manager line up, which collectively manages over AUD$8 billion in assets across domestic and international markets.
Daintree’s investment philosophy is based on a conservative credit culture with a strong focus on capital preservation and protection against downside risk. Daintree is focused on providing a positive return, low volatility, and high liquidity in most market environments.
As a signatory to the United Nations Principles for Responsible Investment (UNPRI), Daintree Capital embeds Environmental, Social and Governance (ESG) risk analysis into its investment process which leads to better risk / return outcomes for our investors.
Fast fact:
Kapstream's founders previously worked for PIMCO Australia.
Mandate:
To manage an absolute return portfolio of primarily investment grade fixed income securities.
Kapstream, founded in 2006 focuses on absolute return/cash plus strategies within the global fixed interest space. Kapstream aims to provide clients with customised solutions while targeting capital protection, diversification, high levels of liquidity and low levels of volatility. In managing absolute return strategies in the global fixed interest space, Kapstream is able to maximise investment returns for clients. The capacity to move in and out of specific sectors and countries within the fixed interest universe, permits Kapstream to seek areas that are priced for greater return potential.
This strategy entails a profile that is different relative to most traditional bond fund managers, however the Kapstream portfolio is expected to serve as a complement to bond portfolios by providing consistent returns over all business cycles. Additionally, Kapstream's investment approach will have a broader investment universe than most fixed interest funds in Australia, offering a product with a comprehensive global focus.
Fast fact:
PIMCO is one of the world’s premier fixed income investment managers.
Mandate:
To manage an absolute return portfolio of primarily investment grade fixed income securities.
PIMCO was founded in 1971 in Newport Beach, California. PIMCO has offices across the globe, with 3,384 professionals united by a single purpose: creating opportunities for investors in every environment.
PIMCO introduced investors to a total return approach to fixed income investing. In the 50+ years since, PIMCO has continued to bring innovation and expertise to their partnership with clients seeking the best investment solutions.
PIMCO partners with a wide range of institutions, including corporations, central banks, universities, endowments and foundations, and public and private pension and retirement plans.
PIMCO also works with financial advisers and millions of individual investors pursuing personal financial goals. This ranges from preparing for retirement, to funding higher education. Investing clients’ assets is a huge responsibility, that PIMCO don’t take lightly. PIMCO works relentlessly to help investors reach their goals.
Fast fact:
First Sentier Investors is a standalone global investment management business, part of Mitsubishi UFJ Trust and Banking Corporation (MUTB), a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc.
Mandate:
To manage cash and bank term deposit portfolios.
First Sentier Investors is a global asset management group focused on providing high quality, long-term investment capabilities to clients. It brings together teams of specialist investment managers who share its common commitment to responsible investment principles.
First Sentier Investors is a stand-alone asset management business and also home to a number of individually branded investment teams, such as Stewart Investors, FSSA Investment Managers, Realindex Investments and Igneo Infrastructure Partners.
All investment teams operate with discrete investment autonomy, according to their investment philosophies. Together, the First Sentier Investors group offers a comprehensive suite of investment capabilities across global and regional Equities, Cash and Fixed Income, Infrastructure and multi-asset solutions, all with a shared purpose to deliver sustainable investment success.
First Sentier Investors has been managing money with a long-term outlook for more than 30 years and as at 30 September 2022 manages approximately AUD$209.1 billion of assets on behalf of institutional investors, pension funds, wholesale distributors and platforms, financial advisers and their clients.
First Sentier Investors is ultimately owned by MUFG, one of the world’s largest financial services companies.
Fast fact:
Macquarie is one of the largest fixed interest managers in the Australian market.
Mandate:
To manage an active portfolio of Australian investment grade government bonds and credit securities.
Macquarie Investment Management Global Limited forms part of Macquarie Asset Management Public Investments, a division of Macquarie Asset Management which is Macquarie Group’s asset management business.
Macquarie Asset Management Public Investments delivers a full-service offering across a range of asset classes including fixed interest, listed equities (domestic and international), listed real estate securities and infrastructure securities to both institutional and retail clients in Australia and the US, with selective offerings in other regions.
Fast fact:
With a proud history as a leader in responsible investment, Pendal offers a range of innovative strategies specifically designed for responsible investing related needs.
Mandate:
To manage an investment in the Pendal Sustainable Balanced Fund, a multi asset portfolio that takes into consideration a range of sustainable, ethical and financial criteria.
Pendal Institutional Limited (Pendal) is a global investment management firm focused on delivering investment returns for its clients through active management.
Pendal has investment capabilities across a range of asset classes, including Australian and International Shares, property securities, fixed income and cash strategies, as well as multi asset and responsible investments. To complement its in house expertise, Pendal also partners with other leading investment managers.
In the Sustainable Balanced Fund’s Australian and International shares, Australian and International Fixed Interest and part of the Alternative investments components, Pendal integrates environmental, social and/or governance considerations (ESG) into the management of the portfolio, including industry level exclusions. The approach taken within each asset class is designed to allow for the nuances of the asset type and investment strategy in question. In addition, Pendal actively engages with company management to manage risk, effect change and realise potential long term value.
Pendal’s investment teams are supported by a strong operational platform across risk and compliance, sales, and marketing and operations, allowing fund managers to focus on generating returns for Pendal’s clients.
Pendal is a wholly owned subsidiary of Perpetual Limited.
Total fees per year
0.47% + $0Account keeping fees
$0Administration fee
0.12%Estimated investment fees and costs
0.35%For example
Total fees for an account balance of $50,000:
Total estimated annual fee$235
Statement of fees and other costs are based on fees over the 2022/23 financial year. It includes all investment and administration fees and expenses for an account balance of $50,000. For more information, see the Retirement Income Pension Product Information Booklet. You should read all the information about fees and costs, because it is important to understand their impact on your investments.
Our investment fees and costs are not fixed, and are reviewed periodically and adjusted to reflect the most recent expenses related to your investments. The actual investment fees and costs can only be determined at the end of each financial year. This is estimated to be between 0.18% p.a. and 0.50% p.a. of the value of your investments, depending on which investment options you choose. This is deducted from the fund's assets before the daily unit price is calculated. The administration fee for managing your account is 0.12%. This is not a separate fee, and is included in the total annual fee shown above. Please note, the investment fees and costs percentage includes any costs relating to transaction costs.
Many super funds charge a buy/sell spread when switching between investment options. These are transaction costs to cover expenses such as brokerage and stamp duty that is incurred when buying and selling units. We do not currently charge a buy/sell spread when switching between investment options.
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 29 February 2024.
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