The Fund Executives Association Ltd has voted in a new director, John O’Flaherty of Super SA, the South Australian public sector schemes administrator, to replace one of the founding directors, fellow South Australian, Frances Magill of Statewide Super.
A total of four executive members of FEAL stood last week for two vacant board seats: O’Flaherty, Magill, Peter Robinson of SERF and Michael Dwyer of First State Super, who successfully stood for re-election. The vote was taken at the FEAL annual meeting in Sydney – the association’s ninth. Magill joined the inaugural FEAL board, which was chaired by Dwyer, in 1999. Paul Watson, the deputy chief executive of ARIA, moved a vote of thanks for her work for the organisation. Last year’s FEAL board seats also attracted strong competition, with nine nominations for four vacancies. Elected last year were Paul Watson, Colin McGuinness of NGS and Damian Hill of REST, along with Howard Rosario, of Westscheme, re-elected as chair. Last week’s annual meeting had about 50 members in attendance, coinciding with the final FEAL briefing for the year (see separate report).
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Alternatives
The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.






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