AustralianSuper Ltd., the $42 billion fund, is seeking to hire a senior manager to decide on asset allocation and has invited tenders to manage its middle office operations.

The person hired to be in charge of the asset allocation team will oversee strategic allocation and economic research. They will report to AustralianSuper’s chief investment officer Mark Delaney.

“The role has been created as part of AustralianSuper’s goal to continually deliver additional value to members’ retirement savings,” said Delaney in an email to I&T News.

“We believe it will enhance our capability to identify new areas of opportunity.”

AustralianSuper has 1.8 million members.

Middle office functions manage all the data that result from a transaction, and report to custodians.

The fund will decide on who will win the middle office contract early next year.