AustralianSuper announced an organizational revamp Thursday aimed at supporting the A$263 billion ($178.7 billion), Melbourne-based superannuation fund's ability to deliver strong long-term performance.
The fund's total portfolio management, asset allocation and research teams will be brought together into one team under Head of Asset Allocation Alistair Barker, according to a news release.
Mr. Barker was head of total portfolio management.
The move will streamline AustralianSuper's portfolio strategy and asset allocation activities, facilitating its investment team's ability to implement decisions over the short, medium and long term, the news release said.
Carl Astorri, head of asset allocation and research, will move to London to take on a new role as head of investments Europe.
In other moves, the news release said a new chief liquidity officer position is being added. Joris Hillmann, the fund's head of capital markets, will take on the role of acting chief liquidity officer as well while a search for a full-time candidate is conducted.
The fund's equity division, meanwhile, is being divided into two groups: an Australian equities team and an international equities/private equity team. Justin Pascoe, head of equities, will be leaving AustralianSuper, the news release said. Mr. Pascoe couldn't immediately be reached for comment.
The internal Australian equities team, which currently actively manages A$57 billion of the A$65 billion total AustralianSuper invests in domestic stocks, will continue to be led by Shaun Manuell, head of Australian equities.
The fund will appoint a head of international equities and private equity. In the interim, Michael Stavropoulos, head of portfolio construction and strategy-equities, will oversee the group.
AustralianSuper oversaw A$263 billion in retirement assets for nearly 3 million participants as of Sept. 30.
