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January 2023
GII congratulates Andrew Bambrook on joining REST as the Head of Property.
Established in 1988, REST is amongst the largest superannuation funds in Australia by membership, with approximately 1.9 million members and AU$66 billion in assets under management.
We wish Andrew all the best in his new role and continued success to the team at REST.
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January 2023
GII congratulates Leo Yang on his appointment as Associate Portfolio Manager, Credit Income at Aware Super.
Aware super is one of Australia’s largest industry funds providing superannuation, advice and retirement solutions to those who teach, nurse, care, respond and help others in our communities. The Fund currently manages a combined asset pool of AU$125 billion on behalf of its 1.1 million members.
Leo joined Aware’s Sydney office on 16 January 2023 and is part of their credit income team which is responsible for managing a portfolio of over AU$6.5 billion, invested across global credit markets including leveraged and acquisition finance, corporate, real estate, infrastructure and securitised markets.
In his role as Associate Portfolio Manager, Credit Income, Leo is responsible for supporting further growth of Aware Super’s direct lending program, management of external managers and contributing to global allocation decisions.
We wish Leo all the best in his new role and continued success to the Aware Super team.
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December 2022
GII congratulates Sonia Baillie on her appointment as the Sector Head of Income Assets at Aware Super. Aware Super is one of Australia’s larges industry funds, currently managing a combined asset pool of AU$125 billion on behalf of its 1.1 million members.
The Sector Head of Income Assets is a new position at Aware Super and Sonia commenced in the role on 5 December 2022, in their Sydney office. Sonia reports to Michael Clavin, the Head of Income and Markets, and plays a key leadership role in the strategic development of the Fund’s Income Asset Portfolio, its management and leads a team responsible for cash, conservative income, fixed income and credit income.
We wish Sonia all the best in her new role and continued success to the Aware Super team.
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December 2022
GII congratulates Georgina Dudley on her promotion as the newly appointed Chief Executive Officer of JANA, effective from 1 December 2022. This follows from the decision of the current CEO, Jim Lamborn to step back from the position, a role he has held since 2015. Jim will remain a senior member of JANA’s management team in the role of Executive Director.
We wish Georgina all the best in her new role and continued success to the JANA team.
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December 2022
GII congratulates James Gunn on his appointment as the Head of Equities Research at Frontier Advisors, effective from today, 1 December 2022.
James joined Frontier four years ago and has been a senior member of the asset consultants’ equity research practice, both domestically and globally. He is replacing Fraser Murray who has led Frontier’s equities team for a decade and who will be retiring at the end of this year.
We wish James all the best in his new role and continued success to the Frontier team.
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December 2022
GII congratulates James Merlino on his appointment as Independent Chair and Independent Director of REST.
Established in 1988, REST is amongst the largest profit-to-member superannuation funds in Australia by membership, with approximately 1.9 million members and AU$66 billion in assets under management.
James joins REST from 1 January 2023 following a 20-year career in the Victorian Government where he most recently held the positions of Deputy Premier, Minister for Education and Minister for Mental Health.
We wish James all the best in his new role and continued success to the REST team.
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Tas Hasan, Partner & Chief Operating Officer, Deerpath Capital
In this exclusive interview with Global Investment Institute (GII), Tas Hasan, Partner and Chief Operating Officer of Deerpath Capital shares his experiences navigating the US middle market, how his organisation is providing investors globally with access to this burgeoning opportunity set in direct lending to middle market corporates, and the key pitfalls for investors to avoid in order to minimise credit losses.
“The next 12 to 18 months may prove to be a pivotal time for private credit markets. We expect to see the concerns that have seen the more liquid leverage loan and high yield bond markets sell off this year to start to be reflected in the quarterly revaluations of private credit manager loan books.
“With borrowing costs amplifying the rising level of expenses already caused by severe inflation, it will be interesting to see which managers have portfolios that will were built to withstand the continued pressure on earnings. On top of this, once revenues take a hit in a recessionary environment, we believe that we will see a clear separation between those lenders who played it safe during the boom times and those that took elevated risks.”
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Magdalena Kinal, Fixed Income Portfolio Manager
In this exclusive interview with GII, Magdalena shares her perspectives and the approaches institutional investors can take to navigate their portfolios through the changing regime environment, with rising rates and heightened inflation.
“In 2022, a traditional asset owner with a CPI+ or Cash+ target has faced a twofold effect, an unrealistic investment objective and significant reduction in asset values, where an allocation to fixed income has not provided a defensive anchor. Moreover, the idea that an allocation into inflation-linked bonds managed against traditional benchmarks offers inflation protection, while ignoring the embedded duration risk, has proved to be naïve.
“Managers who diversified their defensive sleeve via an allocation to defensive alternative strategy products or through tail-risk hedging strategies, such as option strategies, have generally benefited in 2022, albeit at the expense of the income which would have been earned via bonds”, says Magdalena.
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November 2022
GII congratulates Tracey Whitby on her appointment as the Head of Finance and Operations (CFO) of Aware Real Estate (ARE).
Aware Real Estate is the largest manager of Built-to-Rent in Australia and was launched by Aware Super to grow its directly-owned Australian property portfolio, with the aim of hosting AU$7 billion in assets within five years, by 2027. Aware Super is one of Australia’s largest superannuation funds managing AU$150 billion on behalf of its 1.1 million members.
Tracey will be reporting to the CEO of ARE, Michelle McNally and she is based in ARE’s Sydney office.
We wish Tracey all the best in her new role and continued success to the Aware Real Estate team.
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October 2022
GII congratulates Nick Tranotis on his appointment to the role ESG Manager at CareSuper.
CareSuper is an industry superannuation fund for professional, managerial and administration workers, with AU$20 billion in assets under management.
Most recently, Nick held the position, Manager – ESG Engagement at the Australian Council of Superannuation Investors (ACSI). He will work with the Fund’s Head of ESG, Claire Molinari to manage the net zero program, engagement and proxy voting activities. Claire reports to the Chief Investment Officer, Suzanne Branton.
We wish Nick all the best in his new role and continued success to the CareSuper team.
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Global Thought Leader Spotlight on Joe Kalish, Chief Global Macro Strategist, Ned Davis Research (NDR)
“The intermediate-term outlook will hinge on whether central banks can return inflation back to targets without doing a lot of economic damage. If they can, that would create a favourable environment for fixed income. But any rally could end once the cycle turns, if the supply side challenges haven’t improved and inflation returns once economies recover. The outcome could be even worse for bond investors if central banks abandon the inflation fight before the job is done. Either way, the risk is that investors will start to lose confidence in central banks, which should result in inflation expectations becoming unanchored, term premiums rising and new highs in bond yields.”
Read more of Joe Kalish's analysis of the short, medium and long term inflation outlook and the implications for investors in this Global Investment Institute exclusive Global Thought Leader Spotlight. Joe Kalish is the Chief Global Macro Strategist for Ned Davis Research (NDR) Group. He is responsible for all of the NDR's bond and economic analysis, which includes developing and communicating the firm's global and U.S. fixed income strategies with a particular emphasis on monetary policy.
October 2022
GII congratulates Nigel Wilkin-Smith on his appointment to the role Senior Portfolio Manager, Portfolio Construction at NSW TCorp.
NSW TCorp is the investment and financial management partner of the New South Wales government and its investment management arm manages AU$102 billion in assets on behalf of clients, as at 30 September 2022.
Prior to joining NSW TCorp, Nigel spent 11+ years at the Future Fund, most recently in the role of Director, Portfolio Construction and before that he was the Head of Strategic Research at van Eyk Research. In his past, Nigel also worked as a research fellow at both the University of Queensland and the Australian National University (ANU). He holds a PhD in Mathematics from ANU.
We wish Nigel all the best in his new role and continued success to the NSW TCorp team.
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