Queensland-based QSuper has strengthened its internal investment capability via three new appointments, two of them drawn from within the ranks of QIC.
The fund announced today that Damian Lillicrap has been appointed as head of strategy and Herbert Chang as head of capital markets.
Lillicrap and Chang join QSuper’s new head of funds management, Charles Woodhouse, and its recently appointed chief investment officer, Brad Holzberger.
Woodhouse was previously head of alpha investments at QIC, while Lillicrap was head of portfolio design at QIC. Chang has an accountancy background.
Commenting on the appointments, QSuper chief executive Rosemary Vilgan said the investment team would have responsibility for implementing investment policy decisions and structuring potential investments.
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.