POWERED BY MOMENTUM MEDIA
First State Super CIO steps down
First State Super has announced its chief investment officer (CIO) will step down from his role and will be replaced by the investment team leader at StatePlus as acting CIO.
Richard Brandweiner would step down from his CIO role to join the leadership team of the global impact investment firm, Leapfrog Investments.
First State Super chairman, Neil Cochrane, said the move came as the firm was looking to develop a role within impact investing.
"Following our recent purchase of StatePlus, First State Super now controls one of the largest pools of capital in Australia and this presents new opportunities for growth," he said.
"In keeping with this industry position and the values of our organisation and members, we are keen to establish a leadership role within impact investing."
"For Richard, this unique opportunity aligns with his personal mission to make a difference through investing."
First State Super chief executive, Michael Dwyer, said the firm wanted to work with Brandweiner and the LeapFrog team to develop investments that delievered financial and social outcomes on a global scale.
He was pleased Graham had agreed to act as CIO while the firm undertook an industry-wide search for a permanent replacement.
Graham would join the First State Super investment team on 22 August, while Brandweiner would continue with the fund as an executive investment consultant to ensure transition.
His consultation period would end in December.
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
