REST

Funds that want to take the total portfolio approach first need to get the total portfolio view. To do that they not only need data – and lots of it – but a rock-solid understanding of exactly how they’re going to use it.

Some members are excited for retirement, while others approach it with a “real sense of shame and fear”. Funds are going to have to figure out how to cater to both groups or risk failing them all.

The chief member officer of the circa $90 billion profit-to-member fund will step down after “nine terrific years” in the role with the fund now commencing its search for a replacement.

Andrew Lill has stepped down as chief investment officer of the $86 billion Rest, bound for parts yet unknown. The fund he leaves looks very different to the one he joined.

The $80 billion profit to-member-fund has added State Super director and former AIST president Catherine Bolger to its board to fill the position left vacant by Julia Fox.

The $85 billion industry fund has tipped more money into a real estate debt fund from Metrics Credit Partners as it looks to diversify its private markets exposures.

The industry fund is a cornerstone investor into Fidelity’s new logistics real estate fund, tipping in around A$130 million as it looks to grow its allocation to impact investments.

The $78 billion super fund has filled out its impact portfolio with a new listed equities mandate as it aims to have one per cent of FUM allocated to impact opportunities by 2026.

Following a significant technology and systems uplift, Rest feels it’s ready to do global equities in-house. That doesn’t necessarily mean its roster of external managers will lose out.

From little things big things grow, and the $75 billion industry fund hopes the impact investment commitments it and other funds have made will expand beyond their initial targets in the same way renewables did.