AUSTRALIA - Three Australian pension funds have funnelled a combined A$66m (US$60.6m) into the global bond fund managed by Pengana Capital.
Superannuation fund Combined Fund allocated A$28.3m, Cuesuper placed A$21.6m and Pinnacle Superannuation Fund invested $16.3m.
Pengana chief investment officer Nick Griffiths said: "At this stage of the global recovery, an allocation to our diversified bond strategy makes very good sense. One of the benefits of this particular strategy is that it gives smaller institutional investors the opportunity to allocate to a range of higher performing fixed income strategies which are run by investment specialists in their respective classes."
The multi-manager bond fund uses global fixed income managers like TCW, Ashmore, Loomis Sayles and Mariner Silvermine in its underlying manager line-up.
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