In what represents a significant departure, the big NSW-based Local Government Superannuation Scheme and Energy Industries Superannuation Scheme have lost their chief investment officer, Mark Sainsbury, who has been recruited by First State Super.
The chairman of First State Super, Tom Parry said Sainsbury had been appointed chief investment officer with the $9 billion fund.
Sainsbury was not only chief investment officer of the Local Government and Energy Industry funds but also chief investment officer of the fund’s associated wholesale investment vehicle, Chifley Investment Fund.
Sainsbury’s new role will see him working with the fund’s investment advisors, JANA and making recommendations to the First State Super Trustee Board.
