Aware Super executive quits to start own fund

Two of Aware Super's top investment professionals have quit the superfund to set up a fund.

Aware Super head of direct equities and portfolio manager Tim Riordan left the superannuation fund. Going with him is Mike Teran, an associate portfolio manager.

The duo ran the super fund's Midcap Australian Equities fund for the last three years, although Riordan has overseen it since its inception five years ago.

Riordan was also responsible for overseeing the direct equities team and responsible for running two other portfolios - small cap and strategic equities.

The decision to leave the asset owner wasn't made lightly since a fund manager has a much different risk profile.

The high points that drew him into the new role are alignment, quality and the opportunity to work alongside some highly credentialed investors.

Riordan says the new fund has structured an incredibly strong alignment between the investment professionals and their clients.

"The new role will enable me to spend more time focusing on quality, the core driver of our process and portfolios to maximise returns."

"Alignment and incentives are key to the successful execution of strategy and the structures in this role are about as aligned as it gets in funds management, so the focus on returns for clients is as sharp as possible."

Commenting on his five-year stint at Aware Super, Riordan thanked his colleagues for a "truly rewarding time" of "personal and professional growth."