Australian superannuation manager State Super has hired Neuberger Berman to manage a concentrated global equities mandate of an undisclosed value, saying the US asset manager provided a “unique and compelling” investment plan.
State Super says it ran a lengthy open tender for proposals, seeking under-explored investment ideas with long-term potential for alpha generation.
“Neuberger Berman responded to us with a unique and compelling proposition,” Andrew Huang, a senior investment manager at State Super who led the tender, says in a statement on May 22.
According to Mr. Huang, Neuberger Berman’s newly designed global equities data science integrated flagship strategy bolsters the fund manager’s existing environmental, social and governance (ESG) and fundamental research process.
“To us, Neuberger Berman appears to be meaningfully ahead of the curve in building and implementing this approach,” he says. “We believe that supporting fundamental research with a solid data science and ESG discipline will be a growing advantage over time.”
Neuberger Berman, which started managing Australian institutional money in 2017, had US$330 billion of total assets as of March 2020.
State Super manages superannuation and pension schemes for around 100,000 members and had A$44 billion ($28.7 billion) of assets at the end of 2019.