Steve Merlicek

IOOF investments chief Steve Merlicek has recruited an international equities portfolio manager into his expanding team of sector specialists.

David Kilmer has moved from his position as IOOF head of research to become the latest member of Merlicek’s multi-manager team, which invests about $12 billion in retail superannuation and investment funds.

The CIO, who joined IOOF last year from Telstra Super, recruited Australian equities portfolio manager Dan Farmer earlier this year from an equivalent role at the big corporate fund. Since then, Merlicek has also drawn on IOOF senior research analyst Hugo Agudo to assess alternatives managers.

He is currently searching for a portfolio manager to cover cash and fixed interest, and, recognising that multi-managers and their consultants now tend to allocate more time to product selection than investment strategy, Merlicek is canvassing the market for strategy and implementation specialists.

Once complete, the team of sector specialists should provide greater accountability and alignment of interests to IOOF investors, Merlicek told I&T News.

In his new role, Kilmer will call on IOOF’s asset consultant, Russell Investments, to assist in manager selection. He will also be guided by Merlicek, whose 18 years at Telstra Super involved considerable experience in international equities strategy allocation and manager selection.

Kilmer, a fluent Mandarin and Japanese speaker, joined IOOF in 2008 after working in various investment and consulting positions, including tenures with Societe Generale and WHK.