Colonial First State (CFS) has allocated $300 million to three new managers, Investment Technology reports. The Australian superannuation and retirement solutions provider has allotted $85 million to First Quadrant, $105 million to Neuberger Berman and $110 million to Aspect Capital.

The new mandates have been allocated to build a new alternatives manager allocation into the multi-sector funds on CFS’ FirstChoice platform. The strategies were selected to diversify the portfolios by providing returns that were not correlated to equity markets, and to deliver lower overall volatility.

Click here for the story from Investment Technology.