POWERED BY MOMENTUM MEDIA
ART surges past $300bn, unveils executive leadership revamp
Australian Retirement Trust (ART) has hit a new growth milestone as it crosses $300 billion in funds under management, having added over $40 billion in the last financial year.
As it enters its next phase of strategic growth, the fund has announced a new streamlined operating model that focuses on three lines of business, namely, investments, workplaces, and members.
The three lines of business will be enabled by an integrated operations and delivery team, to
be overseen by ART’s new chief operating officer Kathy Vincent, who has served as its chief retirement officer since December 2023.
ART elaborated that the new operating model is to be supported by specialist enterprise partners covering finance & strategy, people & culture, risk & compliance, and enterprise services.
“Australian Retirement Trust has an impressive legacy of accomplishments, and the time is right to now focus on our future and how we will unlock our potential and support our members to retire well with confidence,” said ART’s CEO David Anderson.
“I strongly believe Australian Retirement Trust will be the distinctive market leader in retirement if we put our collective focus on becoming world class in four disciplines – strong investment performance, innovative retirement solutions, and excellent member and digital experiences, all underpinned by outstanding governance practices.”
Under the new operating model, the fund’s revamped executive committee will comprise:
- Ian Patrick as chief investment officer
- Kathy Vincent as chief operating officer
- Simonne Burnett as chief member experience officer
- Anne Browne as chief people officer
- Julie Bingham as chief enterprise services officer
- Anthony Rose as chief financial officer
ART also announced Steve McKay will serve as interim chief commercial officer, replacing Dave Woodall, who leaves ART after nine years to join another organisation.
Meanwhile, Dianna Orbelle has been named interim risk officer.
ART will also see the departure of Lachlan East, who was chief member officer, and will exit at the end of August after 12 years at the fund.
Looking at its growth in the last year, ART said it added more than $40 billion of funds under management, $19 billion of which comprised four successful mergers with Commonwealth Bank Group Super, Woolworths and Endeavour Group, AvSuper and Alcoa Super.
ART also announced its latest merger partner in Qantas Super last week and is set to welcome some 26,000 members and $9 billion in assets under management in 2025.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
