The country’s big super funds are preparing to hit global risk limits
As they grow, funds have no choice but to send more of their member capital offshore. But that comes with challenges that they may simply be unable to manage.
In late September, AustralianSuper revealed a surprising recruit. The industry superannuation giant, which manages some $340 billion in retirement savings, had appointed its first-ever chief liquidity officer, recruiting Chandu Bhindi from Commonwealth Bank’s treasury unit.
The move was described as a “significant step forward” for the fund – and we may indeed look back on this as the moment the game changed.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
