Local Government Super (LGSS) has strategically increased the size of its management team with the appointment of both a risk manager and sustainability manager.
The fund announced that it has appointed compliance expert Hannah Deukmejian as risk manager while Bill Hartnett has been appointed to the newly created role of sustainability manager.
Deukmejian was previously employed by the Commonwealth Bank and will be responsible for identifying and assessing the fund’s risks as well as assessing the design and operating effectiveness of key controls.
Hartnett will report to LGSS chief investment officer, Craig Turnbull and will be responsible for communicating the fund’s sustainable investment initiatives to members and stakeholders.
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.