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.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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