POWERED BY MOMENTUM MEDIA
AusSuper CIO paid $947k bonus
AustralianSuper’s executive team were paid a total of $6,091,406 including bonuses totalling $2.54 million between four of its executives during the 2019/20 financial year.
The industry superannuation fund was asked a question on notice by the House of Representative Standing Committee on Economics on what its base salary and bonuses were for the 2019/20 and 2020/21 financial year.
AustralianSuper pointed to its annual report in answering the question but noted that its 2020/21 FY salaries would be reported in its 2020/21 annual report.
The annual report said the fund’s chief investment officer and deputy chief executive, Mark Delaney, had the highest remuneration of the executives including a base salary of $733,437 and a performance payment of $947,400. Together with his superannuation payment, this gave him a total remuneration of $1,705,837 for the 2019/20 financial year.
The next best paid at the fund was its former head of equities, Innes McKeand, who had a total remuneration of $1,159,635 including a performance payment of $577,635. McKeand left the fund in March 2021.
The fund’s outgoing chief executive, Ian Silk, received a total remuneration of $1,111,234 and while he did not have a performance payment, he received non-monetary benefits totalling $17,417.
The fund’s head of mid-risk portfolios, Jason Peasley, had a total remuneration of $1,076,700 including a performance payment of $494,700.
AustralianSuper’s head of asset allocation and research, Carl Astorri, had a total remuneration of $1,038,000 including a performance payment of $519,000.
During the year, the fund had over $182 billion in assets under management.
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(%)
