First State Super has appointed former ASFA chief Philippa Smith to its board, and finalised an investment consultant review.
After an extensive and thorough assessment, conducted by ChantWest, the board has reappointed JANA as investment consultant for a further three years. While Smith, who takes up her first board position since resigning from ASFA earlier this year, replaces Mark Duffy, director general of water and energy at the NSW State Government, who was on the First State board for eight and a half years. First State Super became a public offer fund in May 2006 and in that time its membership has increased from about 450,000 to 510,000.
21 August 2007 00:00
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Investments
The $80 billion Mercer Super has delivered a fourth consecutive year of double-digit returns to most members of its SmartPath lifecycle product. Global equities did a lot of heavy lifting, but chief investment officer Graeme Miller tells Investment Magazine that the fund is now looking further afield for returns.
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