Merv Peacock, the former chief investment officer at AMP Capital Investors, will become the new chair of the investment committee of UniSuper, following the appointment of two new independent directors to the fund’s board.
Peacock joins Chris Cuffe, the former chief executive of Colonial First State and Challenger Funds Management, as an independent director, alongside the fund’s chair, Elizabeth Bryan, herself a former chief executive of what became Deutsche Funds Management in Australia. Cuffe will join the board’s membership committee, which oversees distribution, communications and marketing. Bryan, who was the previous chair of the investment committee, decided to vacate that position when she became chair of the whole fund. The fund’s board has been expanded from 10 to 11. “The expansion is intended to deepen the mix of commercial skills and experience available to the fund during the next exciting new phase of its evolution, without disturbing the principal of equal member and employer representation,” Bryan said last week.
Our leading grocery retailers claim that the dividends they pay contribute directly to the retirement incomes of millions of Australians. But that doesn't mean they have free reign to dupe consumers through illusory discounts, which is what they're accused of doing by the ACCC, and it seems engagement by asset owners with Woolworths and Coles may not be adequately addressing the elephant in the aisle.
Russell BakerOctober 4, 2024
