Health Super creates governance role

Health Super has done what few other funds have, and filled a new role for a chief governance officer.

The $7 billion fund appointed Gary McGrath to the role, which CEO Chris Clausen said demonstrated the fund’s conviction that good governance of its increasingly complex structure was critical to protecting and growing member retirement savings.

“Gary’s strong legal background, experience as a company secretary and his demonstrated knowledge and experience in superannuation, risk management and compliance and his experience working with industry regulators made him the ideal choice for the CGO role,” Clausen said.

McGrath has previously worked in NSW public sector superannuation, spent two years with ASIC and 10 years as a commercial litigation and insolvency lawyer in Perth.

 

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Canada establishes new SWF amidst global push for nation-building investment

Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.

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