Tim Hughes will become chief investment officer at the A$2.7 billion (US$2.4 billion) NGS Super. It is a new position.
Mr. Hughes has been CIO at the A$3 billion Catholic Super for seven years, but worked part time as an investment adviser at NGS Super, which covers school teachers in the non-government sector. Both funds are based in Melbourne, Australia.
Mr. Hughes said he had advised NGS Super on investment strategy, portfolio structuring and manager selection “in my own time” but now aimed “to devote significantly more time to doing that,” he said.
Catholic Super has begun searching for a new CIO and intends to make an appointment in the near future, said Frank Pegan, CEO of the fund.
Commenting on his tenure at Catholic Super, Hughes said: “I had a fantastic time. It was very challenging and rewarding to get results that were good. But seven years is long enough.”
Simon Mumme is a writer with Investment & Technology, Sydney.