The founding head of Acumen Super, Peter Robertson, will depart the REST-owned corporate pension vehicle and become the chief executive of the Stevedoring Employees Retirement Fund (SERF) early next year.
Robertson worked at the REST industry fund for five and a half years and helped set up Acumen in 2002. The acting chief executive of SERF since July, Ross Taylor, said he would have no further involvement with the fund following Robertson’s transition, and no confirmed future plans at this stage. Robertson will also become chief executive of SERF’s internal administration company, Maritime Financial Services. Talks between SERF and fellow self-administered funds Seafarers Retirement Fund and Auscoal, regarding the sharing of backoffice resources, had been put on hold while a permanent chief executive was found. SERF will introduce income protection insurance for most members from February 2007.
14/11/2006
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Investments
AustralianSuper's chief liquidity officer Chandu Bhindi has publicly proposed the idea of allowing some super funds to directly use leverage, enabling them to better manage liquidity requirements in crisis situations rather than being forced to sell assets at stressed prices. While the idea has some merits, overall it is not necessary and could increase system risk.
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