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Opalesque Exclusive: Super funds investing in hedge funds
According to the ‘Hedge Funds Industry in Australia’ report produced by the Department of Innovation, Industry, Science and Research [formerly Axiss Australia] citing data from InvestorSupermarket:
Telstra Super
Telstra Super's head of alternatives, Nicole Connolly and her colleague Marie Lesso, are now internally overseeing the $11 billion fund’s 15% exposure to private equity, infrastructure and hedge funds, according to I&T News. Russell Investment Group had previously provided advice to Telstra Super.
MasterSuper
Perth-based MasterSuper has gradually increased its exposure to alternatives and infrastructure, which now stands at 22%, according to I&T News. In addition, the $720 million superfund has appointed a number of high-conviction, benchmark-unaware managers across Australian and international equities. The managers include Mellon Australian Equity Long/Short Trust, BTWholesale Focus Australian Share Fund, and MIR Investment Management. Fund secretary Mark Sladden said that over time, less benchmark-aware managers were more likely to create additional value.
Vision Super
Vision Super is allocating $15 million to Macquarie Alternative Investment Trust V, a private equity fund. The $4.1 billion superfund had previously committed up to $60 million to earlier versions of this fund, according to I&T News.
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