Mercer has boosted its investments team with the appointment of Stuart Birkett as senior portfolio manager.
Birkett will be responsible for Mercer's multi-manager equity portfolios, and will report to Mercer chief investment officer for Asia Pacific Andrew Howard.
With 20 years of experience in the investment and financial services industry, Birkett's most recent role was director of implemented equities at Queensland Investment Corporation, where he was in charge of Australian equities. He has experience with other equity sectors, including global equities.
"We are delighted Stuart has joined the team. His skill set and experience means he is already very well versed in the key aspects of the role, and has insights and ideas which will be of great benefit to our investors," said Howard.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.