Few would disagree that a strong regulator is required for a strong superannuation system. But APRA’s myopic focus on cost to members means its $70,000 Christmas party is unlikely to help its reputation.
Good investing requires real sacrifices, according to Oaktree’s Howard Marks, but you can’t expect to be compensated just for making them.
Appointments and disappointments
(Stephen Dunne)
Two big industry funds have recruited an economist, Brian Parker, and a senior researcher, Andrew Baker, while AMP Capital’s long-time managing director, Stephen Dunne, announced his retirement from later this year and John Phokos left NSW Workcover.
Sunsuper has recruited Brian Parker, an economist who has been with the NAB group for about 10 years, most recently as head of the portfolio specialists group at MLC and NAB Asset Management. He fills the newly created role of chief economist.
AustralianSuper has hired Andrew Baker, the founder of wealth management research firm Tria Investment Partners, who left there in March. He will become head of ‘proposition and product’ at AustralianSuper, reporting to Paul Schroder, the fund’s group executive, membership.
Stephen Dunne said he would leave AMP Capital, of which he has been managing director for 12 years. The firm has instigated a global search for a replacement. He has been at AMP since 1994, joining the investment company in a sales role before progressing through the ranks.
John Phokos has left NSW Workcover, where he has been senior investment analyst for the past nine years. The fund’s portfolio management functions are being amalgamated with those of State Super of NSW (STC) and NSW Treasury Corp. He previously worked at JP Morgan and Commonwealth Bank in performance analytics roles.
