Darryl will bring more than 25 years’ risk and governance expertise from top tier financial services firms spanning the Americas, Europe and Asia Pacific, including Credit Suisse, Standard Chartered, PGIM, Westpac, and most recently as Chief Risk Officer with Colonial First State. He started his career with Ernst & Young where he qualified as an auditor and a chartered accountant.

Chief Executive Officer David Anderson said the appointment was a fantastic outcome for the fund and its members.

“Australian Retirement Trust has achieved significant growth in recent years which has helped us deliver strong long-term returns and net benefits for members. In an evolving superannuation landscape, we’re fortunate to have secured an exceptional leader in Darryl who will bring an invaluable depth and breadth of experience in first and second line risk management leadership roles in complex, highly regulated financial services businesses internationally.

“Darryl’s comprehensive understanding of risk frameworks and his blend of commercial and risk acumen will support our focus on world class governance, as we strive to be the distinct market leader.

“Culturally, Darryl is aligned strongly with our purpose and values at ART and he will be a valuable addition to our Executive Committee and fund as a whole.”

s ART’s CRO, Mr Burke will lead the fund’s Risk & Compliance business area. The Risk & Compliance team plays a critical role in driving ART’s world class governance capability by assessing risk and guiding disciplined decisions to inspire confidence and awaken futures for its members.

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Anne Fuchs

Australian Retirement Trust (ART), one of Australia’s largest super funds, has delivered a 11.3% return for its High Growth option for the 2023/24 financial year.

It’s the second year in a row ART has delivered double digit returns for the option, cementing its place as the highest performing investment option in the SuperRatings SR50 Growth Index, ranking number 1 over the last 10 years as at 31 May 2024.

ART’s Head of Investment Strategy Andrew Fisher said the results come as the fund begins moving its younger members to a higher growth strategy.

“We are transitioning 1.4 million MySuper members under the age of 50 to be invested in a strategy that is equivalent to our award-winning1 High Growth option in FY25,” Mr Fisher said.

“Super is typically the biggest investment many of us will make and Australian Retirement Trust is committed to making it count.

“We always encourage anyone contemplating their super investment options to seek financial advice, either through their fund or from an external adviser – we know it makes an enormous difference to our members’ super balance and retirement outcomes.”

ART’s Executive General Manager of Advice, Guidance, and Education, Anne Fuchs, said Australian Retirement Trust is proud to deliver this excellent result for members and external adviser partners who have put their trust in ART.

“In addition to improvements in our MySuper strategies, Australian Retirement Trust is launching a streamlined suite of choice investment options for members from 1 July,” Ms Fuchs said.

“I’m delighted to share that we’ve listened to the feedback of our external adviser partners and have introduced a High Growth Index Option to the new look investment menu.

“As a Fund we are committed to delivering the best possible retirement for our members. We hope our continued strong performance and product innovation gives our valued external adviser partners confidence in their decision to recommend Australian Retirement Trust as their preferred choice in superannuation and retirement income products to clients.”

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Notes:
[1] Money Management 36th Annual Fund Manager of the Year Awards, 2024, https://www.fundmanageroftheyear.com.au/winners/2024-winners-and-finalists

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Ian Patrick

Australian Retirement Trust doubles up on double-digit investment returns in High Growth option Australian Retirement Trust (ART), one of Australia’s largest super funds, has delivered an 11.3% return for its ART High Growth option for the 2023/24 financial year.

It’s the second year in a row ART has delivered double digit returns for the option, cementing its place as the highest performing investment option in the SuperRatings SR50 Growth Index, ranking number 1 over the last 10 years as at 31 May 2024.

ART Chief Investment Officer, Ian Patrick said the fund is exceptionally proud to deliver another year of strong results for its members.

“Strong global and local equities have been the primary driver for our performance this year. We’ve seen robust and consistent outperformance across the board.

“After decades of low interest rates and a challenging outlook for long-term super returns, we now face an environment where the outlook is more constructive for delivering on real return targets for members. Of course nothing is certain, but there is some comfort to take from this.”

Mr Patrick said as a profit-for-members fund, ART’s investment team strives to deliver superior risk adjusted outcomes for its 2.3 million members, so they can retire well with confidence.

“Super is the longest-term investment many of us are going to have. Our investment team takes this responsibility seriously and aims to set the fund up for success,” he said.

“In more good news for members, we launch our streamlined suite of choice investment options from 1 July. This will give them freedom to awaken their super by choosing from 15 carefully constructed choice investment options that cover a broad range of objectives and investment timeframes to meet their goals and life stages.

“For members under the age of 50 who don’t make a choice, we will invest them into a MySuper investment strategy that is equivalent to the ART High Growth option. This will mean over 1.4 million ART members will be transitioned into what has been our strongest performing strategy over the past 10 years.

“We believe in the power of financial advice and encourage Australians to seek advice before making changes to their investment decisions. For Australian Retirement Trust members, they can access advice as part of their membership.”

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Ian Patrick

Australian Retirement Trust (ART), one of Australia’s largest superannuation (pension) funds, has opened its first overseas office in London as it seeks to further capitalise on international investment opportunities.

With over 40% of assets outside of Australia and more than A$25b dollars invested in the UK and Europe, the expansion aligns with the A$280b Fund’s strategy to further build out a leading global investment capability.

ART Chief Investment Officer, Ian Patrick, said it was an exciting time for the Fund and demonstrates the scale of investments now being undertaken since the Fund’s merger more than two years ago.

“Australian Retirement Trust partners with world-class external managers and this is the next logical step for us to expand our investment capability,” said Mr Patrick.

“The team in Australian Retirement Trust’s UK office will work with external investment managers to source new investment opportunities for our more than 2.3 million members.

“Having an office in close proximity to our external investment managers will help us secure even more compelling investment opportunities for our members.”

ART’s Head of Global Real Assets, Michael Weaver said the ART team had already met with the RT Hon Lord David Cameron, Secretary of State for Foreign, Commonwealth and Development Affairs on his visit to Australia last month to discuss local investment opportunities. “As a profit-for-members fund, delivering strong long-term performance for our members is critical for Australian Retirement Trust. We look forward to capitalising on suitable infrastructure and real estate investments in the UK and Europe that our members will benefit from into retirement,” Mr Weaver said.

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Kathy Vincent

Australian Retirement Trust (ART) has unveiled a streamlined suite of choice investment options across superannuation and retirement products, available to members from 1 July 2024.

Members of ART will be able to choose from 15 carefully constructed choice investment options that cover a broad range of objectives and investment timeframes to best meet their goals and life stages.

ART Chief of Retirement, Kathy Vincent, said the fund engaged its members, advisers and employers to co-design the innovative investment menu.

“When we asked our members what they wanted most in a new investment menu, they told us performance, fees, sustainable investing and the ability to choose the right level of risk were top priority – all of which remained front of mind when we worked to streamline these choice investment options,” said Ms Vincent.

“Today’s announcement is great news for our more than 2.3 million members and is the next step in the evolution of Australian Retirement Trust, giving our members the best of both legacy investment worlds.

“As part of this, we’re aligning the risk profiles of our MySuper offerings for Super Savings and QSuper account holders. This means Super Savings account holders will have more of their money invested in growth assets for longer, which is expected to have higher returns over the long term for members of all ages.

“Streamlining our investment menu also means that from 1 July 2024, our competitive Growth investment option, that we’re renaming High Growth, will be open to all members. This option delivered a return of 8.95% p.a. over 10 years to 31 December 2023, securing the number one spot in the SuperRatings SR50 Growth Index over that period,” she said.

Ms Vincent said the impact an investment choice can have on members’ retirement savings cannot be underestimated.

“We believe these changes are in the best financial interests of our members and that no matter what level of experience they have in investing, our simplified menu will empower them to make the right choices so they can retire well with confidence.”

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David Anderson

Australian Retirement Trust (ART), one of Australia’s largest superannuation funds, has announced the appointment of David Anderson as its next Chief Executive Officer following an extensive global search and selection process.

David brings to ART more than 30 years of experience in insurance, financial services and professional services having led teams in Australia, New Zealand, Asia, Middle East, Africa, Latin America, Europe, the United Kingdom and the United States.

Having spent the past 25 years with Mercer, David’s most recent role was global Chief Commercial Officer. Prior to this role, David was President, International with responsibility for all of Mercer’s clients and teams in more than 175 cities and 42 countries outside the United States and Canada. For the past nine years, since he left Australia, David has been based in New York and London where he gained invaluable global experience in retirement savings, employee benefits and investments.

Chair of Australian Retirement Trust, Andrew Fraser, said the appointment comes at an important time for the Fund as it delivers its next phase of its vision to be Australia’s most chosen and trusted retirement partner.

“With a changing superannuation landscape, this an exciting time for Australian Retirement Trust and we believe David Anderson will be an exceptional leader to steward the fund and our people on behalf of our 2.3 million members.

“The Australian Retirement Trust Board believes David’s experience and capabilities, global as well as local perspective, leadership style and values will enable him to be an outstanding CEO of ART.

“As one of Australia’s largest funds we’re committed to growing and guarding the retirement savings of all members, who entrust us with their superannuation.”

Commenting on the appointment David said: “I am delighted to be returning to Australia to join Australian Retirement Trust. It will be an honour to lead an organisation that has carved a legacy as one of the largest retirement savings and income funds in Australia.

“ART has been putting members’ money to work both locally and globally, aiming not just for financial success but for a secure, confident and dignified retirement for their 2.3 million members. I’m excited to contribute to this mission and to bring my global experience to the table to benefit the ART team and their members.”

David Anderson’s appointment comes three months after outgoing CEO Bernard Reilly’s resignation.

Mr Fraser thanked Bernard Reilly for his leadership and commitment to the fund over his tenure as Chief Executive Officer.

“Bernard was integral to the successful delivery of the largest and most complex superannuation merger in Australian history to form Australian Retirement Trust and will leave a lasting legacy for our members. On behalf of the Board and executive team I thank Bernard for his unwavering commitment to acting in our members best interests,” Mr Fraser said.

David will be based in Brisbane and will formally commence in the role of CEO in March 2024, upon the conclusion of Bern’s announced departure at the end of February 2024.

Bernard and David will work together to ensure a smooth transition in the coming months.

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Dave Woodall

Australian Retirement Trust (ART), one of Australia’s largest super funds, has successfully merged with the $12.3b Commonwealth Bank Group Super (Group Super) plan.

ART will welcome 63,700 new members to the Fund as part of its largest corporate transition to date.

ART’s Chief Commercial Officer, Dave Woodall, said that the latest corporate merger signals the strength of ART’s offering for corporate clients and demonstrates ART’s specialist skill in managing complex transitions.

“This is our second major corporate transition so far this financial year, following on from the Woolworths SFT in August and we have a few more currently in progress, including AvSuper and Alcoa,” Mr Woodall said.

“At Australian Retirement Trust, our vision is to be Australia’s most chosen and trusted retirement partner, and our recent mergers signal the confidence from corporate Australia in what we offer.

“We have a very experienced inhouse transition team with specialist skills and experience in managing complex defined benefit plans as one of the largest defined benefit providers in the Australian superannuation industry.

“Our new members will benefit from ARTs global investment capability, award winning financial advice services and dedicated member support, including digital tools and education seminars.

“We’re very proud that major Australian employers trust us to manage the retirement outcomes of their employees today and into the future.”

The SFT will be completed in two tranches, the initial transition is complete and the transfer of the defined benefit lifetime pensioners (approx. $2b and 3700 members) will occur in the second half of this financial year.

The latest SFT follows ART’s recognition as Corporate Solutions Fund of the Year at the 2023 Chant West awards^[1] for the 8th year in a row for our Super Savings offering. The award acknowledged the super fund working to harness economies of scale and apply these in the best interests of its corporate plan members.

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Notes:
[1] The Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West rating (assigned 17 May 2023) is limited to general advice only and has been prepared without considering your objectives or financial situation, including target markets where applicable.

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Jody Fitzgerald

Australian Retirement Trust (ART), one of Australia’s largest superannuation funds, has announced the appointment of Jody Fitzgerald as Head of Investment Resilience and Planning.

The recently created role is accountable for ensuring investment portfolios and investment capability can consistently and effectively navigate and adapt to diverse investment landscapes resulting in optimal returns across market cycles.

ART’s Chief Investment Officer, Ian Patrick said the appointment was an integral step to set the team up for continued success in guarding and growing the retirement savings of our members.

“Australian Retirement Trust invests more than $260 billion on behalf of our more than 2.3 million members, which is a responsibility we take very seriously,” Mr Patrick said.

“Jody brings to Australian Retirement Trust a wealth of capability and experience in investment management and business leadership roles, and we look forward to her contribution to deliver on our vision to be Australia’s most chosen and trusted retirement partner. “

Jody joins ART from Morningstar Investment Management, where she was Head of Institutional Portfolio Management and Solutions and will commence at ART in late January 2024.

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Nicole Bradford

Australian Retirement Trust (ART), one of Australia’s largest superannuation funds, has taken a further step in its commitment to a Net Zero greenhouse gas emissions investment portfolio by 2050 with the launch of its Net Zero 2050 Roadmap (Roadmap).

The release of the Fund’s Roadmap follows the commitment to a net zero greenhouse gas emissions investment portfolio by 2050, which was adopted shortly after the Fund’s merger in 2022.

ART’s Head of Sustainable Investments, Nicole Bradford, said that the Roadmap outlines how ART currently plans to transition its investment portfolio and accelerate actions towards a net zero greenhouse gas emissions investment portfolio by 2050.

“As one of Australia’s largest superannuation funds, Australian Retirement Trust’s Net Zero 2050 Roadmap takes a long-term view that aims to be pragmatic, measured and actionable, to help manage climate risk while safe-guarding and growing the retirement savings of our members to help them retire well, with confidence,” Ms Bradford said.

“Our Roadmap is led by guiding principles which recognise, most importantly, Australian Retirement Trust’s legal duty to our members.

“A key principle of our Roadmap is that we cannot achieve a net zero greenhouse gas emissions investment portfolio by 2050 alone. We take seriously our role as an investor and have outlined activities which aim to support our emissions reduction targets by engaging with key stakeholders and encouraging investee companies to achieve real-world emission reductions towards a low carbon economy.

“Achieving a Net Zero greenhouse gas emissions investment portfolio by 2050 is going to take a combination of emissions reductions and capital for investments that support decarbonisation. Australian Retirement Trust has set a number of targets across a range of activities that will help guide us to our Net Zero 2050 goal,” said Ms Bradford.

ART’s Chief Investment Officer, Ian Patrick, said the Fund’s Roadmap put members at its centre in what it aims to achieve.

“At Australian Retirement Trust, our vision is to be Australia’s most chosen and trusted retirement partner. We aim to be a top-performing fund that delivers and advocates for what matters most to our more than 2.3 million members, as well as our people and the communities in which we operate,” Mr Patrick said.

“The risks posed by climate change are some of the most significant of our time. Our members put their trust in ART to look after their retirement outcomes, and our Net Zero 2050 Roadmap aims to ensure that we have the guardrails to help us deliver on this commitment through our investments.

“ART takes our responsibilities as a leading global investor and to our members seriously, and we’re proud to launch our Roadmap. Our roadmap acknowledges our part in the transition towards a net zero economy, and we believe the industry’s ongoing collaborative approach to help address this challenge is preferable to trying to address this individually.

“Harnessing capital as a collective, with a unified voice, may add to the pace and help achieve the sizeable shift required to solve some of the challenges we as investors – and our society more broadly – are facing,” said Mr Patrick.

Key elements of the roadmap include:

• A target of a Net Zero greenhouse gas emission investment portfolio by 2050, aligned with the Paris Agreement goal of limiting global warming to well below 2°C. ART’s net zero target refers to the Scope 3 category 15 (investments) emissions^[1].
• Interim targets of 43% reduction in emissions intensity by 2030 (against the FY21 baseline) (covering listed equities, infrastructure and real estate asset classes) in relation to scope 3 category 15 (investments) emissions.
• A target of engaging with 100% of ‘priority companies’ within our listed equities portfolio by 2030 (‘priority companies’ are those investee companies that together contribute 70% of financed emissions). This target proposes to include formal objectives, timeframes and escalation measures for direct engagements. As at 30 June 2022, ART engaged with 74% of its priority companies in the listed equities portfolio either directly, through collaborative initiatives or through service providers.
• A target of portfolio alignment with 50% of our ‘priority companies’ to be ‘net zero’ or ‘aligned’ to a net zero pathway within listed equities by 2030.
• In future, proposed adoption of a target for investments in climate-related opportunities.

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[1] Scope 3 category 15 (investments) emissions. PCAF (2022). The Global GHG Accounting and Reporting Standard Part A: Financed Emissions. Second Edition.

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Bernard Reilly

The Australian Retirement Trust (ART) Board has announced that Bernard Reilly has informed them of his intention to leave the Fund in February 2024, two years after executing Australia’s largest superannuation merger.

Australian Retirement Trust’s Chair Andrew Fraser thanked Mr Reilly for his leadership and paid tribute to the organisational culture he will leave behind.

“Bern will leave an incredible legacy, having played an integral role in delivering Australia’s largest superannuation merger to create Australian Retirement Trust back in February 2022,” said Mr Fraser.

“Bern has expertly guided Australian Retirement Trust to deliver merger benefits to our more than 2.3 million members and grow funds under administration to more than $260b. But I think the thing Bern should be proudest of, and a true testament to his leadership capabilities, is the culture he has helped grow across our organisation.”

Outgoing ART CEO Bernard Reilly said he will forever be honoured to have been ART’s inaugural CEO.

“This has been an enormous decision for my family and me, but I know that I am stepping away at the right time for Australian Retirement Trust,” said Mr Reilly.

“I will leave behind a highly experienced and talented executive team who at the core have a commitment to serve Australian Retirement Trust’s more than 2.3 million members.

“This is an exciting time, as Australian Retirement Trust enters its next chapter as one of Australia’s leading superannuation funds, I’m excited to continue watching the Fund grow as one of its members.”

ART has appointed Egon Zehnder to commence a global executive search for a new CEO. Mr Reilly will remain as the Fund’s CEO until February 2024, marking two years since the merger.

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