The chairman of the Labor Union Co-operative Retirement Fund (LUCRF), Greg Sword, has resigned and undertaken the position of acting general manager.

John Carlile, who was deputy chairman of LUCRF for the past eight years and who last year headed the LUCRF investment and compliance and audit committees, has become chairman. Sword’s six month tenure as acting general manager began on 1 January. The appointment comes three months into the $1.8 billion industry fund’s search for a permanent general manager since the previous general manager, Paula Allen, left abruptly in August 2006. “My job is to ensure that management remains aggressive, and to give the board breathing space while it searches for a new general manager,” Sword said. “They’re determined to make the right employment.” Meanwhile, Carlile said LUCRF had obtained a public offer licence and was in the process of developing products an impending public offer. Founded in 1978, LUCRF sits amid the first generation of Australian industry super funds.

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