The A$410 billion ($293.56 billion) pension fund AustralianSuper said on Wednesday it had appointed Shaun Manuell as its next chief investment officer (CIO).
Manuell, who has been with the fund since 2013, will replace the outgoing Mark Delaney who retires at the end of June.
The position is one of the most high-profile jobs in Australia’s pension industry, known locally as superannuation, because of AustralianSuper’s size. The fund is the largest in Australia and forecasts it could reach A$600 billion in funds under management by 2030.
AustralianSuper said Manuell had led AustralianSuper’s Australian equities team for 13 years, during which internal managed equities grew in value to A$100 billion from A$1 billion.
Australian pension funds had typically outsourced the management of their equities investments but have been increasingly taking an active approach and doing it in-house.
AustralianSuper said about 60% of its total portfolio was now internally managed, with more than 400 in-house investment staff located around the world.
($1 = 1.3966 Australian dollars).
Reuters
