VicSuper hires Seton for Stronger Super push

The $8 billion VicSuper has contracted Michael Seton, former chief executive officer of Military Super, to help the fund adapt to incoming Stronger Super reforms.

Seton will manage all products and projects that do not involve investments at Melbourne-based VicSuper, according to an e-mail he wrote on March 6 that was obtained by Investment Magazine Online. His 12-month contract started on March 5.

The onset of the Stronger Super reforms has spurred “a huge amount of activity” at VicSuper, Seton wrote. Reforms include the MySuper default fund regime, slated to begin in July 2013, and the overhaul of contribution payment systems called SuperStream, which began in July 2011. He reports to Michael Dundon, chief executive officer of VicSuper.

Seton left the $4 billion Military Super in mid-November after overseeing the fund’s merger with Commonwealth Superannuation Corporation to form a $24 billion fund.

VicSuper is a superannuation fund for Victorian public servants. The fund did not return phone calls seeking comment.

, , , ,

Leave a Comment

‘Not an ATM’: Sicilia shrugs off private credit liquidity fears

The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.

Sort content by