Non-Government Schools Super will lose investments manager Joanne Townsend at the end of the month, when she moves to a senior investments role at one of Australia’s largest industry funds.
Townsend will leave the $3 billion NGS Super after joining from Tasmania’s RBF Fund a little over a year ago. She has taken a senior investment role at the $15 billion REST Super, reporting directly to chief executive Damian Hill. The acting chief executive of NGS Super, John McCrory, confirmed Townsend had “;accepted an offer and an opportunity too good to refuse from a much larger fund…As much as I regret Jo’s departure at this time I wish her well.”; He said interim arrangements were being put in place to cover internal requirements while a replacement was appointed. Tim Hughes, who will continue as a senior investment adviser to NGS Super, said the departure of Townsend so soon after that of former chief executive Colin McGuinness was “;completely coincidental”;. McCrory added the fund’s plans for its own financial planning licence would continue to be implemented, even while replacements for McGuinness and Townsend were sought. “;I expect the AFS Licence application to be lodged in accordance with the original timetable,”; he said. “;My involvement in most forward planning matters via my compliance role [at NGS Super] has enabled me to do that, albeit with the need to update myself on the finer detail in some areas.”;
Fiduciary Investors Symposium
Diversify to help protect portfolios from falling growth and rising inflation, says Bridgewater partner
Investment “rules of thumb” are being called into question as global markets move into a "very different environment” of high inflation and constrained central banks, Bridgewater Associates senior portfolio strategist Phil Dobrin told delegates at the Fiduciary Investors Symposium.
Meredith BoothJune 29, 2022
