Jacob Mitchell

Sydney-based global equities investment manager, Antipodes, is pleased to announce its appointment by leading industry super fund, HESTA, to manage a major global equities mandate.

The approximately $1 billion mandate for the Antipodes Global Long Strategy was awarded following an extensive due diligence process.

Antipodes’ Chief Investment Officer, Jacob Mitchell, said the appointment is a testament to Antipodes’ holistic approach to identifying value across global equity markets.

“Our pragmatic value style has delivered positive outcomes for clients by helping to preserve and ultimately grow capital during periods of market volatility, such as those we have recently experienced.

“During a period in which investors are once again being reminded about the importance of starting valuations, I thank HESTA for recognising the effectiveness of our pragmatic value approach and selecting our team to help manage its members’ superannuation.”

Pinnacle Investment Management (Antipodes’ distribution partner) Director of Institutional Distribution, , also commented on the appointment.

“As we have seen increasing concentration in global equity allocations, Antipodes’ differentiated value investing style will provide further diversification benefits for the broader HESTA portfolio and deliver sensible and aligned exposure to important areas of development such as decarbonisation, healthcare and digital connectivity.”

Steven Semczyszyn, General Manager – Growth Assets at HESTA said, “The appointment of Antipodes to the HESTA portfolio complements our broader portfolio mix. We are attracted towards Antipodes’ pragmatic approach to valuing companies and program of company engagement.

“We look forward to Antipodes helping HESTA to deliver strong investment returns for our members.”

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The A$170m mandate to the Aikya Global Emerging Markets Strategy is the first secured by the UK-based investment boutique after being established by a team of highly experienced Emerging Markets investors in March 2020.

Aikya is an affiliate of Pinnacle Investment Management Group Limited (ASX:PNI) (Pinnacle). Pinnacle is a minority equity partner and provides distribution services and other non-investment support functions.

Aikya Portfolio Manager, Ashish Swarup, said the appointment demonstrates a high degree of confidence in Aikya’s well-established Emerging Markets investment processes.

“We are pleased to be partnering with a forward-thinking Australian superannuation fund, with a sound reputation for investment acumen and responsible investing,” said Mr Swarup.

“We follow a disciplined investment process that focuses on identifying businesses with the highest quality of stewardship, which requires deep understanding of the various jurisdictions where we invest. The team has many years’ experience investing in emerging markets, having worked together through previous market cycles.”

Pinnacle Investment Management Director, Institutional Distribution, Wes Campbell, also commented on the appointment.

“Aikya’s experienced investment team is a global leader when it comes to Emerging Markets and after just a few months since coming together as Pinnacle’s sixteenth investment boutique we are delighted to secure this major mandate,” said Mr Campbell.

“Importantly, legalsuper members can rest assured Aikya’s intensive focus on stewardship and ESG factors means funds will not flow into companies with negative social utility such as coal, gambling, tobacco and arms manufacturers.”

Legalsuper CIO, Norman Zhang, said: “legalsuper’s scale and agility allow us to pursue truly innovative investment opportunities and Aikya aligns well with this strategy. We are confident in their capability to protect capital and deliver healthy long term returns from socially responsible businesses in this asset class.”

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