Home / Legislation / Two of Australia’s largest funds name new CIOs

Two of Australia’s largest funds name new CIOs

Australia’s Future Fund has named Sue Brake to take on the role of acting Chief Investment Officer at the $205 billion sovereign wealth fund. The fund promoted its former CIO, Raphael Arndt, to the role of Chief Executive Officer. Arndt has served as the Future Fund’s CIO since 2014, delivering exceptional returns, having joined in 2008.
Legislation

Australia’s $205 billion sovereign wealth fund, the Future Fund, has named Sue Brake as its acting chief investment officer, with the Fund having promoted its former CIO, Raphael Arndt, to the role of chief executive officer. Arndt has served as the Future Fund’s CIO since 2014, delivering exceptional returns, having joined in 2008. He takes over from Cameron Price, who has been placed as the interim CEO since March. The former CEO, David Neal, has joined global asset manager IFM Investors as CEO.
The Future Fund will begin looking for a suitable replacement for the acting CIO in the coming months. The Future Fund’s financial year-to-date return has been -0.2%, while its 10-year return was 9.2%, exceeding the benchmark target of 6.4%. The fund is currently 18.2% invested in private equity, 14.7% in alternatives and 27.6% in global equities.
Australia’s largest superannuation fund by membership, REST Super, has appointed Andrew Lill as its new CIO. Lill was the former CIO of Morningstar’s Asia-Pacific business and prior to that, headed up the investment specialists and investment solutions unit at AMP Capital. The $53 billion retail industry super fund conducted a review of its investments structure and governance framework. As part of its findings, the fund’s Super Investment Management unit was merged into its internal investment team.
Lill will be responsible for the management of this combined team. The CIO plays an important part in working with investment managers and the board investment committee to help support fund growth through Australia’s economic recovery. REST Super’s Balanced option has returned its investors 0.44% for the financial year and 4.99% for the quarter. The recent rebound in overseas and Australian shares were a key driver of these returns.




Print Article

Related
Market snapback likely to be ‘short-lived’, short positions warranted: Sage

With bad news priced in, long-short manager Sean Fenton is positive on returns.

Drew Meredith | 18th Aug 2022 | More
‘If we have to, we’ll drive the bus’: Putting money to work in the dislocation

HMC Capital sees “fantastic opportunities” in current market dislocation.

Staff Writer | 18th Aug 2022 | More
Global advice business models on the cusp of change: KPMG

“Fragmented” service models for advice groups will soon coalesce into three distinct business models according to KPMG’s Future of wealth management report.

Tahn Sharpe | 18th Aug 2022 | More
Popular
1
Top hedge fund award goes to L1 Capital
Greg Bright | 13th Dec 2021 | More
2
Advisers urged to tread carefully with ‘wholesale investor’ status
Staff Writer | 28th Jul 2022 | More
3
MAX Award winners and the new world outside
Greg Bright | 13th Jun 2022 | More
4
INDepth with Andrew Lockhart from Metrics Credit Partners
The Inside Adviser | 30th Jun 2022 | More