Ruling out any interest in the permanent chairmanship of the fund, Lloyd said the successful candidate would be someone with investment experience. Whitlam would qualify on that score, as he is currently deputy chair of the NSW Workcover Investment Fund board.
Meanwhile, MTAA Super business development managers reported being sent text messages last week, stating that CEO Michael Delaney was taking “indefinite” leave.
However Lloyd said Delaney had simply accumulated a considerable amount of annual leave, would be using it over the Christmas period, and would return to his post “early in the New Year”.
MTAA Super recently announced it would be closing its Target Return member investment choice option, which consists almost entirely of unlisted assets, from close of business on April 30 next year.
In a statement to members, MTAA Super said the closure did not reflect any fundamental problems with the option or its assets, but rather followed guidance on best practice from APRA and ASFA, which said any investment option offered by a super fund should be sufficiently liquid to fund all withdrawals from that option on a standalone basis.