The new investment committee chair of Local Government Super Scheme NSW (LGSS) will be decided at a board meeting this month, following the retirement of employer representative John Wearne at the end of June.
The end of August saw the departure of another veteran employer-appointed trustee, with Peter Woods retiring from his seat after more than 10 years (spent mostly as chair) and also leaving the board of LGSS’s funds manager, FuturePlus. Replacing Wearne as the Shires Association of NSW representative on the LGSS board is Col Sullivan, an officer of Casino shire, while Woods’ replacement as Local Government Association of NSW trustee is Sam Byrne from Marrickville council.
18/09/2007
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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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