Former Victorian Funds Management Corp. (VFMC) senior executive, Craig Hughes has been appointed by Mercer’s investment management business to head its client services.
In the newly created position based in Melbourne, Hughes will lead the client services team and be responsible for all of Mercer’s implemented consulting clients and other institutional investors of the multi-manager funds.
Hughes has spent 20-years in the investment management industry, 10-years of which were at VFMC where he was responsible for managing client relationships for total funds in excess of $35 billion.
Prior to VFMC Hughes worked with the Transport Accident Commission, AXA/NMFM, Commonwealth Funds Management and the departments of treasury/finance.
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.