Aware Super has promoted Damien Webb to Deputy CIO, as the fund expects to double the size of the investment team over the next five years.
Aware Super has appointed Damien Webb as the fund’s new Deputy Chief Investment Officer (CIO). Webb was previously the Head of Income and Real Assets for the fund.
He will work closely with CIO Damian Graham to expand the Aware Super investment team as the fund implements its recently approved five-year investment strategy and prepares to invest more than $250 billion on behalf of its members in coming years.
“Aware Super’s investment pool has doubled in size over the past five years, and we expect to be managing more than $250 billion by 2025,” Graham said. “To prepare for this growth, we have reviewed our investment strategy and are putting plans in place now to ensure we can successfully deploy our members’ savings at this scale.
Over the next five years, we expect to double the size of our investment team and continue to build out our internal capability as well as consider new off-shore expansion – Damian Graham
“This means we need to continue to innovate our approach and consider not just today’s investments but long-term trends and opportunities. Over the next five years, we expect to double the size of our investment team and continue to build out our internal capability as well as consider new off-shore expansion,” he said.
Webb will continue to lead the Real Assets Team, increasing the fund’s strong capabilities in this area and bringing more investment management in-house.
He joined Aware Super in 2014 and over the past seven years has spearheaded the fund’s successful investment strategy and expansion in the infrastructure, property, credit income and agriculture asset classes.
Over this period, Aware Super has invested nearly $900 million in essential worker affordable housing projects, won the concessions to provide the exclusive right to operate the NSW and Victorian Land Registries and, committed to $2 billion in loans and bonds to support successful Australian companies.
Aware Super also appointed Caroline Saunders as Head of Investment Governance and Communications.
Saunders joined Aware Super in 2015 as Senior Manager of Governance and Projects, and for the past four years has been Senior Manager Governance and Due Diligence.
The super fund is currently looking to add two more positions, including a Head of Direct Asset Oversight and Enhancement and Sector Head of Internal Equities.
The Head of Direct Asset Oversight and Enhancement will report to Webb and be focused on the effective governance, operational due diligence, and enhanced direct asset oversight of the portfolio, the fund said.
The Sector Head of Internal Equities will be responsible for the continued development of the fund’s internal equities capabilities, including potential global opportunities and uplifting the role of the strategic equities program.
As well as the key changes to their Investment Team, Aware Super has also promoted James Osborn to the new role of Deputy Chief Financial Officer, reporting to Tim Elliott Group Executive Finance, Strategy and Transformation.
[i3] Insights is the official educational bulletin of the Investment Innovation Institute [i3]. It covers major trends and innovations in institutional investing, providing independent and thought-provoking content about pension funds, insurance companies and sovereign wealth funds across the globe.