The implemented consulting side of JANA Investment Advisers has recruited a superannuation administration specialist from Mercer to run its operations, while it builds up an emerging markets trust with one manager hired so far.
Mike Plant, formerly the National Administration Manager – Standalone Superannuation Funds at Mercer Human Resources Consulting, yesterday started at JANA to work on embedding new products into the consultant’s platform and undertake other operational tasks. Jim Lamborn, head of investment solutions and executive director at JANA, said the consultancy needed more “strength on the operations side” of its investment platform as more products were built and implemented, and to convey “accurate information to our investors”. While the “nuts and bolts” of the administration workload for JANA, such as unit pricing, was conducted by MLC, Lamborn said the consultancy required better reporting capabilities to capture information feeds from its systems and implement new investment vehicles. “It’s not just reporting. It’s project work, talking to managers and talking to MLC about doing due diligence.” While at Mercer, Plant oversaw the administration of 62 corporate superannuation funds and master trusts and managed 170 staff. Among his new team members at JANA are principal consultant Eric Stevens, custody specialist Anthony Ballard and consultant Andrew Reeve. Lamborn added that the firm was building an emerging markets multi-manager vehicle to diversify its exposure to the asset class. To date, this has largely been achieved through one manager, Marvin & Palmer.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
