The $7 billion Health Super has hired a fund investment manager with previous experience as chief investment officer of Tower Australia and, more recently, MFS Investment Management.
Guy Hutchings started with Health Super in February, and is responsible for the fund’s international equities, international bonds and hedge fund exposures.
He is working alongside Matthew Moore and reporting in to chief investment officer Brendon Shepherd, who had intended to resign from the fund late last year but decided to stay after securing an extra resource in his team. This prompted the search that resulted in Hutchings’ appointment.
Hutchings worked in investments for the old BHP Super Fund, prior to five years as chief investment officer at Tower Australia. He joined MFS Investment Management as CIO towards the end of 2006, and was made responsible for the Premium Income Fund, which was later to freeze redemptions from its heavily mortgage-backed portfolio. Hutchings had departed MFS by the time control of the fund was won by Jenny Hutson’s Wellington Capital last October.
Hutchings said he was enjoying the collegiate atmosphere of Health Super’s investment team. He said the fund was not strictly adhering to its long-term strategic asset allocation, especially where it meant selling assets at depressed prices.