AustralianSuper has expanded its International Equities team with three new hires, in an effort further internalise the management of international equities.
The fund has appointed two Co-heads of High Growth Global Equities, naming Steve Kelly and Anu Narula in the positions.
Kelly joins the fund from AXA Investment Managers following a 27-year career at the firm where he worked as a fund manager on the firm’s American Growth and US Responsible Growth funds.
Narula joins AustralianSuper from Mirabaud Asset Management, where he spent more than a decade and was appointed Head of Equities in 2020 and a Partner in 2022. He managed the firm’s Sustainable Global funds. Prior to Mirabaud, Anu managed global funds at AXA Investment Managers and Cadwyn Capital, having started his career at Aviva Investors.
AustralianSuper manages $110 billion in International Equities, while about 30 per cent of the International Equities portfolio is managed internally. But AustralianSuper intends to increase this to a significant majority by 2030, aiming to create greater cost efficiency at scale and generate stronger returns to the benefit of members.
As the fund’s single largest asset class allocation, International Equities is integral to providing members with exposure to public markets globally. We believe this enhanced in-house capability and commitment to active management will reduce costs and help generate sustainable long-term performance for 3.4 million members
“These high calibre appointments are a springboard to further growing our global equities platform, as we continue to expand our overall international investment capability,” Mark Hargraves, Head of International Equities at AustralianSuper, said.
“As the fund’s single largest asset class allocation, International Equities is integral to providing members with exposure to public markets globally. We believe this enhanced in-house capability and commitment to active management will reduce costs and help generate sustainable long-term performance for 3.4 million members.”
AustralianSuper expects to deploy almost 70 per cent of new inflows into global markets. By 2030, the fund expects 70 per cent of all member assets to be internally managed by its investments team.
The fund also appointed Colin Moar as Senior Portfolio Manager, Technology Equities. Moar joined AustralianSuper from Barings where he was a Director and Investment Manager in the Technology Sector team.
He has over 25 years’ experience investing for global equities and technology funds, having previously worked at Polar Capital Partners, RWC Partners, HSBC Asset Management and Aviva Investors.
Moar will manage a technology-orientated portfolio of global equities.
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