Tony Day, chief strategist with Queensland Investment Corporation (QIC), will join the Future Fund as head of strategy towards the end of October.
Fundamental responsibilities bound to the role include portfolio construction, analysis of the key characteristics of assets and of long-term market conditions, and structuring beta sources, I&T News understands. Day’s appointment also enables him to play a pivotal role in staffing and shaping the direction and operations of the Future Fund’s investment strategy team from its incipient stage. The fund is expected to hire six further strategists, and began advertising these roles in the last week. Commenting on Day’s appointment, David Neal, chief investment officer with the Future Fund, said the $60 billion manager was focused on attracting “diverse skills to help generate innovation” across its portfolio. The appointment brings Day’s 12 year tenure at QIC to a close.
Since Australian Retirement Trust’s inception, the industry has been waiting to see whether (or when) the now-$300 billion fund can draw level and overtake the nation’s largest player, the $335 billion AustralianSuper. With a boost to its AUM from the Qantas Super merger, ART could be one step closer to its ‘awakening’.
Darcy SongJuly 19, 2024
