UK/US – The UK fund management arm of Australia’s Colonial First State Investments has been selected by the tenth largest public pension fund in the US, the $57bn (e63bn) Ohio Public Employees Retirement System (Ohio PERS), to manage a new $200m global emerging markets portfolio.

Brian Denny, international portfolio manager at Ohio PERS, comments: “Appointing a specialist manager for global emerging markets assets within Ohio PERS is a key part of our investment strategy for long term growth. Our reasons for awarding the mandate to Colonial First State Investments were, firstly, the high calibre of the team, which has been investing successfully in emerging markets since 1988.
“ Secondly, the team has a strong process as evidenced by its long term record that shows it can outperform in poor as well as favourable market conditions. The team invests prudently and has as one of its key objectives the preservation of clients’ capital, we like that.”

Rob Adams, CEO at Colonial First State Investments, says: “This win is very much in line with our strategic plans to grow our presence in the institutional marketplace, allowing us to significantly advance our position in the US, Europe and Asian pensions markets.”