The $6-billion Qantas Superannuation Plan has hired Chris Grogan, the former acting-general manager of investments at WorkCover Authority of New South Wales, to reduce the costs of investing.

Grogan and Matt Wacher, who joined the fund in February from Russell Investments, are responsible for limiting foreign exchange and tax losses and improving the fund’s risk management and investment strategies, according to an e-mailed statement from Qantas.

“Implementation efficiency and risk management are at the heart of our fully outsourced investment model,” Andrew Spence, Qantas Super chief investment officer, says. “It is important for our organisation to have the right people with the right skills to monitor and manage increasing investment complexity.”

Qantas Super, the Mascot-based fund for employees of Australia’s national air carrier, saved $1.5 million through a foreign-exchange program introduced in July 2011, the statement says. The program, run by Russell Implementation Services, manages the currency transactions of Qantas Super’s global equity and alternative investments. It assesses bids from a secret panel of banks rather than dealing with one.

Grogan managed the $12-billion investment portfolio of WorkCover NSW, the statutory body for workers compensation, after former general manager of investments Jerome Lander left to join Russell Investments in June 2011. Wacher was regional director of indexes at Russell Investments.

Qantas’ five-person investment team consists of Spence, Grogan, Wacher, head of investment operations Peter Savage and analyst Rita Kwan.

Simon Mumme became a fnancial journalist through a stroke of luck. Upon graduating with a Master of Journalism from The University of Queensland in 2006, he set out to fnd a news organisation that would employ him as an overseas correspondent or business reporter. Or both, ideally. Conexus Financial hired the bright-eyed cadet, and in the ensuing years he wrote for all of its titles until being appointed editor of Investment Magazine in June 2010. Under his guidance, the magazine continues to dominate the Australian institutional investment media through its authoritative, insightful and engaging feature stories and analysis. Outside of work, Simon trains keenly in Muay Thai kickboxing, revels in the surf breaks fringing the Sydney coastline and reads as much high-quality journalism and non-fiction writing as he can. Committed to his role as a niche business reporter, Simon is aware that an overseas posting as a correspondent still eludes him. He hopes Conexus can help him with that career goal too.
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