The industry super fund legalsuper has appointed Richard Sanajko as its internal investment manager.
The creation of the position is reflective of a general move by superannuation funds to bring more of their investment decision-making in house.
Sanajko will be aided in his role by Dr Neville Hathaway, who sits on legalsuper's investment committee.
Legalsuper chief executive Andrew Proebstl said the appointment would help the fund provide its core function of creating wealth for its members.
"The appointment of an investment manager will optimise our investment performance, particularly while investment markets remain volatile and competition between superannuation funds increases," Proebstl said.
Sanajko has over eight years of financial services experience in Melbourne, London and Zurich as an investment manager, economist and consultant.
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.
Add new comment