Legalsuper seeks new CIO

Kaizen Recruitment, has been appointed by legalsuper to conduct a search for a new chief investment officer.

legalsuper has recently made several structural changes to its investment approach including: converting all Australian share investments from pooled funds to direct mandates; allocating $280 million to three new managers including Magellan, Wellington and BlueBay; and increasing its allocations to alternative assets in Barwon Healthcare Property Fund, Lighthouse Infrastructure Fund and Ancala (a European alternative energy infrastructure manager).

legalsuper is the predominant fund of choice for Australia's legal community, managing more than $4.1 billion on behalf of more than 44,000 members.

The fund was recently awarded Platinum rating by SuperRatings placing it in the top 25 per cent of super funds, and named gold winner of the Money Magazine Best of the Best 2019 awards in the category of Best-Value Insurance in Superannuation.

Paul Kessell has been named the interim CIO. He has been in the industry for more than 20 years, most recently with Kinetic Super prior to their merger with Sunsuper in 2017.