University-based industry fund UniSuper is in the market for a new chief investment officer (CIO) with the news that its long-serving CIO, David St John, is to leave the fund at the end of this month.
St John's departure after eight years with UniSuper was announced by the fund's chief executive, Terry McCredden, who paid tribute to the CIO's significant contribution.
McCredden said he would be fulfilling the duties of the CIO position with the support of other team members and the fund's investment committee until a new CIO had been appointed.
"Whilst regretting David's departure, I am confident that UniSuper remains extremely well equipped to handle the challenging investment environment we are now facing with a sense of confidence and opportunity," he said.
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.