The Future Fund had a relatively rosy 2024 but is sticking with its prediction that the global economy will become more fragmented and difficult to navigate for even the largest and most sophisticated institutional investors.
The global hedge fund sector saw net outflows across most strategies over 2024 despite racking-up its best calendar year performance in more than a decade.
TelstraSuper CIO heads (back) to Mercer
Graeme Miller is set to take the top investment job at Mercer Super after nearly nine years of “dedicated service” as CIO of TelstraSuper.
Miller started his career at Mercer back in 1990 as a graduate actuarial analyst, before winding his way through Willis Towers Watson and into the CIO role at TelstraSuper in 2016. At TelstraSuper he drove the fund’s approach to sustainable investing, building out a portfolio of “nimble and innovative” climate investments across equities, venture capital and infrastructure.
“Graeme is an investments leader of the highest quality with decades of experience in managing and advising on retirement assets,” Mercer’s Pacific CIO Kylie Willment. “With Graeme as part of the team, harnessing the deep expertise of Mercer’s 3,000-strong global team of investment professionals, we believe Mercer Super is well placed to deliver the best possible retirement outcomes for members.”
Mercer Super has grown significantly in the last few years following a merger with BT’s Personal and Corporate super funds, with FUM now sitting around $74 billion. At the time of the merger, Corrin Collocott joined Mercer Super as CIO, before heading to IAG nine months later, with Willment effectively filling the role in the interim.
“The board and I are delighted that Graeme will be joining us,” said Mercer Super CEO Claire Ross. “Having a CIO of Graeme’s calibre dedicated to the investment outcomes of our members’ portfolios will help further our position among Australia’s best super funds.”
TelstraSuper is currently heading for a merger with Equip Super that will create a new $60 billion profit-to-member fund with a quarter of a million members and “combined strengths” in member and employer servicing, retirement planning and tailored corporate arrangements. TelstraSuper has appointed Kate Misic, head of alternative investments and real assets, as interim CIO.
“Graeme has played a pivotal role in shaping our investment strategy, delivering strong outcomes for members and driving the fund’s approach to sustainable investing,” said TelstraSuper chief Chris Davies. “On behalf of everyone at TelstraSuper and our members, I want to sincerely thank Graeme for his dedication, commitment and expertise. We wish him the very best in his next chapter.”
