Ixis Asset Management Australia (Ixis AMA) has lost Denis Carroll as an executive director, with the former AvSuper fund secretary reverting to a part-time role as non-executive director.
Carroll is reducing his responsibilities, which include business development, to three days a week so that he can concentrate on some private investment projects. Carroll revealed one of these projects involved putting together a private syndicate to invest in Indian property. Carroll said the syndicate, which he described as “a bit of a hobby”, would benefit from contacts he had on the ground in India, as well as valuations which were attractive compared to well-hyped markets in China. Ixis AMA, which recently surpassed $3 billion under management in Australia, recently hired administration consultant Drew Vaughan as chief operating officer, also on a three days per week basis.
Outgoing APRA boss Wayne Byres has a penchant for bigger superannuation funds but the reality is when performance is measured, big is not necessarily better. In fact, being small often helps writes John Durie.
John DurieAugust 15, 2022
