AUSTRALIA - The third largest institutional funds manager QIC has shaken up its asset management structure by separating its alpha and beta departments.
Doug McTaggart, chief executive, QIC, said: "The new structure removes artificial constraints providing better return and cost outcomes for our clients, which is QIC's primary objective."
McTaggart added: "Structuring teams by investment strategy brings complementary skills and research functions together, with the aim of generating better risk-adjusted returns for clients."
QIC also hoped the new set up would help recruit and retain high calibre investment professionals.
Most recent figures showed QIC to have over AUS$70m under management for its Australian and overseas clients.
In January, QIC expanded signed up to the UN Principles of Responsible Investment (UNPRI) (www.globalpensions.com 22 Jan 2008)
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