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).
There is one investment area where Insignia’s $180 billion super arm has not lost money for the past 17 years, which is what it calls the insurance-related investments. The alternatives strategy is gaining popularity among asset owners due to its diversification benefit, but Insignia’s super and asset management investment chief Dan Farmer warns it is a space where investors can suffer if they “stumble in without doing the homework”.
Darcy SongJanuary 23, 2025
