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REST Super terminates Mesirow fund allocation


REST Superannuation in Australia has announced that it redeemed its $293 million investment in the Mesirow Absolute Return Fund.

The move comes at a time when the $1.17 billion pension scheme's alternative investments have fallen in value due to the past year's market volatility. Approximately $125 million of the proceeds from Mesirow were slated to be reinvested with existing managers in the absolute return asset class with the remainder being retained in cash.

The two existing absolute return funds in the programme are Fauchier Partners - Absolute Return Trust and GMO Australia - GMO Multi Strategy Fund.

At the