Active Super and Vision Super are now entering the home stretch of a drawn-out merger process that will create a new $29 billion fund with 170,000 member accounts.
The NZ Superannuation Fund has made half-a-dozen fresh investments over the previous few months across an eclectic range of strategies including US timber, a quant trend-follower and a life science specialist.
Block heading to PNG for new CIO role
Michael Block, the former general manager of investments at FuturePlus and, before that, Workcover NSW, has accepted the position of chief investment officer for Papua New Guinea’s main pension fund, Nambawan Super Ltd.
Block expects to take up the position, based in Port Moresby, towards the end of June.
Block left FuturePlus Financial Services, which handled investments for Energy Industries Super, Chifley Financial Services and Local Government Super, in 2011 and has been subsequently consulting to a range of funds and managers, including AMIST, NSW State Super, BNP Paribas, Insight/Pareto Partners and BlackRock.
Nambawan Super, which has about A$2.5 billion (5.4 billion kina) in assets and 125,000 members, was set up in 1991 through the merger of two now-defunct funds. Nambawan looks after the super for mainly government employees in a defined contribution model.
Prior to FuturePlus, Block had designed and implemented the investment division of Workcover NSW, a A$14 billion insurance fund.
Block said of his new job that he was “hoping to have an adventure and give back by doing some good for mankind”.
