Colonial First State Global Asset Management has lost its head of superannuation business development to a newly created position at Industry Funds Management.
Melbourne-based Eddy Schipper finished up at CFS GAM last Friday. On October 16, he will join IFM in the fund’s first appointment of a business development manager. Damian Moloney, chief executive officer at IFM, said that while the fund had always worked closely with its network of industy funds, IFM was now looking to widen its client base to include broader industry funds, as well as corporate and government funds. Schipper’s role, the title of which is yet to be determined, would involve working with the funds management team at IFM and liaising with various asset consultants, Moloney said.
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
