Meat Industry Employees Superannuation Fund (MIESF) chief investment officer Mary McLaughlin has resigned, effective on Friday, February 3, 2017, and is looking for a new role.
McLaughlin confirmed on Monday that she had resigned at the start of 2017 and would finish up at the $717 million industry fund for abattoir workers later this week.
“The past three-and-a-half years have been interesting and the fund now has a more robust investment portfolio and a stronger governance framework,” she said. “Most importantly, MIESF continues to meet its objectives for members.
“What I’ve enjoyed most is the strong connection to members, many of whom work in abattoirs and on chicken production lines.”
Speaking to Investment Magazine, McLaughlin hinted at some of the frustrations inherent in working for a small fund.
“A small fund is limited in how it can participate in [taking on] the broader challenges facing our industry – such as developing post-retirement solutions – and in how it engages with members,” she said.
MIESF has about 200 retired members.
McLaughlin said she was looking for another role. She started at MIESF in July 2014, taking on wider responsibilities than most chief investment officers, as the super fund does not use an asset consultant. The board is due to meet later in February to discuss whether the super fund will continue with this model.
MIESF chair Chris White was not available for comment at short notice on Monday evening.