TelstraSuper revamps investment strategy team

TelstraSuper has promoted a long-standing investment professional to the head of investment strategy.

The high-profile David Schneider - who currently runs asset allocation with responsibility for strategic and dynamic asset allocation - will take up the broader role.

Specifically, his new role is head of investment strategy within the Investment strategy team.

Schneider has been with the $25 billion super fund since 2018, joining from UniSuper where he spent ten years as the head of quant method.

There he took primary responsibility for UniSuper's strategic asset allocation across all products.

Commenting on the new role, TelstraSuper investment chief Graeme Miller said over recent years, the asset allocation team has broadened well beyond simply setting strategic asset allocations and making dynamic asset allocation calls.

Miller said the team is now responsible for quantifying and evaluating investment risk, modelling and managing liquidity, carrying out stress testing, assessing YFYS headroom, doing macro-economic research, managing foreign exchange risk and implementing portfolio overlays.

"So it made sense to recognise the breadth and depth of what the team does by renaming the team to the investment strategy team and for David's title to change to head of investment strategy," he said.

The superannuation fund has promoted three other staff to the investment strategy team.

Firstly, James Morris has been promoted from manager, asset allocation to senior manager, investment strategy and asset allocation.

Morris is now responsible for all the research and analysis underpinning TelstraSuper's strategic and dynamic asset allocation processes.

Similarly, James Jackson has been elevated from senior investment analyst, asset allocation to associate manager, investment strategy and risk.

Jackson is now responsible for managing and analysing investment risk in TelstraSuper's portfolios while continuing to contribute to  macroeconomic research.

Finally, David Fong's title has changed from senior portfolio manager, and asset allocation to senior portfolio manager, investment strategy and overlays.

He will continue to be responsible for running the fund's overlay and rebalancing programs and will now have option-level foreign currency overlay management added to his responsibilities.

"It's wonderful to provide these three talented team members with opportunities to grow their skills and experience," Schneider added.

"I am immensely proud of the tools and processes we have built in recent years and look forward to TelstraSuper continuing to be a leader in investment strategy."

Before arriving at UniSuper, Schneider was a partner at Deloitte, and the founder of Actuarial Solutions, the first actuarial consultancy in Botswana.

Eight years ago, before joining TelstraSuper, he set up a software company called 10E24 which aims to help retirees financially navigate their retirement.

Buoyed by the retirement income covenant, pension funds are gearing up to meet a growing need for retirement products.

Like some of its peers, TelstraSuper has long provided members with financial advice and retirement products to help members reach their post-working life goals.

But getting people into a retirement product that is right for them is a tough ask, given how varied membership bases are.

Retirees have questions that need answering before they jump into a product.

Using a stochastic model, 10E24 explores differing investment and consumption strategies that retirees can adopt and finds one that best meets their needs, given their preferences and risk tolerance.

As for professional organisations, Schneider is a Fellow of the Institute of Actuaries.