There are a few places left for one of the biggest institutional investment conferences of the year being held at the Balgownie Estate Vineyard, Resort and Spa in Yarra Glen, Victoria next week. The Fiduciary Investors Symposium is open to buy-side representatives of institutional investment teams or boards and to investment consultants who work with … Read more
David Gonski has urged industry superannuation funds not to fear the switch to a one-third independent trustee model, and to search for like-minded independents. The chair of the ANZ Bank and Coca Cola Amatil, and the former chair of the Future Fund, advises superannuation funds instead to spend time choosing the appropriate candidates to serve … Read more
John Pearce received the biggest bonus for a chief investment officer of a large super fund with a payout of $653,586, equivalent to 97.6 per cent of his base salary and super package, in the financial year 2014/15. The bonus size reflects Pearce’s engagement in a number of in-house functions not performed by, or to … Read more
Ian Silk, chief executive of AustralianSuper, received a 15.44 per cent raise for the 2014/15 financial year, the greatest increase in pay of a chief executive at a large super fund. CPI for 2014/15 was 1.5 per cent meaning the raise was 10 times more than inflation. His total remuneration package was $805,372 including a … Read more
Sunsuper has appointed Ian Patrick as its new chief investment officer. Patrick has stepped down from his role as chief executive of JANA Investment Advisers to take up the role – a position he has held since 2008. Jim Lamborn, the former head of JANA’s $36 billion implemented consulting service, will replace Patrick as the … Read more
Michael Clancy is to become the new chief executive of Qantas Super when Jane Perry retires next month. Clancy is currently a non-executive director of the superannuation trustee boards at NAB Wealth, a director and co-founder of cloud based wealth advice service Big Future, and a consultant on business, investment and product strategy to the … Read more
National Australia Bank Asset Servicing is in the process of switching its global custodian partnership from BNY Mellon to Citi. The move follows a period of disruption at Australia’s largest local custodian that have seen management changes, an aborted sale of the business and the loss of many major clients including Cbus and Unisuper. Former … Read more
The $9.3 billion Mine Wealth + Wellbeing fund is increasing its Sydney-based investment team from five to 11, partly in a bid to allocate alternative assets more effectively and to build its retirement options. David Bell, chief investment officer of the fund, has spent the past year making the business case for the expansion, and … Read more
HESTA is seeking to invest in the funding needs of the health and community services sector, where most of its members are employed. The freedom to investigate such possibilities arises after the restructuring and expanding of the investment team to allow chief investment officer, Rob Fowler, to take on a more strategic role. Debby Blakey, … Read more
Female board members in the ASX200 are statistically likely to be decades younger than their male counter parts, suggesting a generational change in board composition. Nearly three-quarters (73 per cent) of male non-executive directors are aged 60–70+ years, while 62 per cent of females are between the ages of 40 and 60, according to research … Read more
Challenger’s annuity products are to form part of three super fund’s strategies to achieve a comprehensive income products for retirement (CIPR) through an income layering model. CareSuper, legalsuper and LGS Super have all announced they intend to offer annuities to their members, backed by Challenger, by mid-2016, pre-empting proposed changes to the superannuation system flagged … Read more
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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