REST Industry Super

Hedge Funds

REST shuffles investment team

Joanne Townsend, general manager of investments at REST Industry Super, has taken on the role of chief operating officer at the fund on a temporary basis. She has taken over the duties of Paul Sawyer, the former chief operating officer, who has left REST to join TWU Super as chief executive. Jamie Hwang from the […]

Insurance summit reveals changing demands

Only a third of super funds have changed the insurance offer in MySuper products, an Investment Magazine survey has revealed. New benefits are being offered by 19 per cent of funds, while 14 per cent have merely adjusted existing offers according to age groups. The most common new benefit is total and permanent disability cover, […]

More mental health advice required

Six insurers have re-signed deals with a charity that aims to improve the wellbeing of Australian employees, as the cost of mental health insurance claims soars. Insurers AIA, TAL, Hanover Life RE, CommInsure, MLC and Beazley Group have signed three-year deals with SuperFriend, while MetLife has signed up for the first time. The deals come […]
Investment Strategy

Insurance could make the difference in MySuper

Insurance was emerging as a potential differentiator as funds and financial-service providers design MySuper products, according to speakers at the AIA-Conexus Financial Group Insurance Summit this week. Damian Hill, chief executive officer of REST Industry Super, told the summit that his fund was “looking to take advantage” of the opportunity to include innovative insurance options […]
Policy and Regulation

Default-super billions
may change hands

Industry superannuation funds could lose their claim on billions in new cash flows as the Productivity Commission seeks a new way of choosing workers’ default funds based on MySuper. Industry funds’ preferred status saw them gain much of the $3.5 billion in superannuation payments made through industrial awards in 2010, according to the Productivity Commission. […]
Investment Strategy

Bryan Gray’s flexibility at JPMorgan

Bryan Gray, in charge of JPMorgan’s custody sales and customer relationships in Australia and New Zealand, has three women working flexible hours for him as relationship managers. By lore, relationship managers are on call 24 hours a day, seven days a week. But Gray seems remarkably liberal about working hours. “They have great relationships with […]
Hedge Funds

REST Industry Super’s bold investment calls

Since 1999, when Damian Hill joined REST Industry Super to oversee administration, the $20-billion fund has never used a “set-and-forget” asset allocation. In the late 1990s the fund reined its investments in global equities to 8 per cent of its capital amid soaring valuations of listed-technology companies, Hill recalls. The fund’s overall investments in “growth” assets, […]
Investment Strategy

REST CEO Damian Hill contradicts Roy Morgan

REST Industry Super, the $21 billion fund for the retail industry, says its 2 million members are largely satisfied with the fund’s performance and its service, contradicting a Roy Morgan Research report that says “customer quality measures for REST are considerably lower than the industry average”. “That finding is not reflective of the benchmarking we’ve […]