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Equip restructures amid low return climate
Equipsuper has consolidated its chief investment officer and executive officer, liability management positions into a single role as it sought to cope with many challenging years in a low return investment environment.
The multi-sector industry superannuation fund had appointed Troy Rieck as executive officer, investment strategy.
Chief investment officer, Michael Strachan, would be departing after 10 years in the role.
Rieck would look after an investment team that had been restructured into three groups — defensive assets, growth assets, and asset allocation — however, team members would retain cross-functional responsibilities, the fund said.
The investment team would look to increase diversification within the fund, and be more dynamic in the allocation of capital and risk.
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Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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