CareSuper has announced Greg Nolan is to stand down from his role as general manager of investments at the end of the year.

He will stay at the $8 billion fund in a part-time role on specific investment projects and the recruitment process for his replacement will commence shortly.

Julie Lander, chief executive of CareSuper, described the move as a win-win. “It gives CareSuper more resources, retaining the knowledge and experience of a valued employee and provides Greg with the opportunity to wind down a little from the pressures of 5 days a week and pursue some of his other interests, ” Greg Nolan said: “I am delighted with the outcome and am looking forward to my new role.”

CareSuper’s investment strategy is supported by direction from the fund’s investment consultant JANA.

CareSuper’s MySuper option delivered a 12.84 per cent for the 2013/14 financial year, outperforming the SuperRatings median balanced option annual return. The balanced option has a 10-year average return of 7.73 per cent and a 5-year average return of 9.93 per cent.

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