Colonial First State (CFS) has allocated $300 million to three new managers, Investment Technology reports. The Australian superannuation and retirement solutions provider has allotted $85 million to First Quadrant, $105 million to Neuberger Berman and $110 million to Aspect Capital.
The new mandates have been allocated to build a new alternatives manager allocation into the multi-sector funds on CFS’ FirstChoice platform. The strategies were selected to diversify the portfolios by providing returns that were not correlated to equity markets, and to deliver lower overall volatility.
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