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Brett Himbury
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Tyndall Investment Management managing director Brett Himbury has announced he will leave the group to take up the role of chief executive of Industry Funds Management.
Tyndall’s current head of retail, Craig Hobart, has been appointed interim managing director.
Industry Funds Management chairman Garry Weaven confirmed Himbury’s appointment, and said he had led a very successful funds management team both in terms of product performance and growth.
Industry Funds Management is owned by 36 not-for-profit superannuation funds through Industry Super Holdings, and has $21 billion in funds under management.
Himbury has previously held roles with the Commonwealth Bank, Rothschild and Westpac.
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.