The $2.8 billion CARE Super industry fund has appointed former Portfolio Partners marketer, Greg Nolan, to the newly created position of general manager, investments.
Nolan said the recent rapid increase in CARE’s assets necessitated the hire of an investment professional to assist chief executive officer, Julie Lander. Nolan was previously head of institutional business at Portfolio Partners, but said he had been considering making the transition to superannuation for two years. CARE Super once retained Portfolio Partners as an Australian equities manager but terminated it in April 2005. Nolan said he was looking forward to the opportunity to try out some of his investment ideas. He will join CARE in three weeks.
The brunt of losses from the LA wildfires are expected to be borne by primary insurers and high-risk reinsurance programs, but super funds are nevertheless closely monitoring the possible impact of the fires on catastrophe bond and insurance-linked securities exposures.
Simon HoyleJanuary 17, 2025
