Mr Stockwell takes up the role from the 26th of November 2019. His appointment follows an extensive executive search.

Commenting on the appointment LGS Chair Kyle Loades said, “Phil’s strategy, leadership and operational experience in financial services organisations in times of change is a good fit for LGS and our members. The LGS Board, in making this pivotal appointment, was focussed on securing a candidate who could lead the fund in key areas. These include maintaining the track record of long-term strong member retirement outcomes and investment returns, remaining at the forefront of sustainable investing, and leading positive change to evolve member service and value.”

“Phil has extensive investment industry experience and a career-long track record of creating and leading effective change programs to deliver better client service and investment outcomes. As such he will work with the Board and LGS leadership to articulate the Fund’s strategy, then lead the business to deliver on our aspirations for members. We are delighted to appoint a CEO of Phil’s calibre and background. He joins an experienced and tenured leadership team and takes over the role from Interim CEO Donna Heffernan.

“I would like to acknowledge Donna Heffernan for her contribution as Interim CEO this year. Donna will revert to her role as Deputy CEO and Company Secretary,” concluded Mr Loades.

Commenting on his appointment, Phil Stockwell said, “I’m delighted to join LGS as CEO. The Fund has a strong platform for growth and evolution, a trusted brand, and history of providing members with strong, consistent and sustainable investment outcomes. This focus on member outcomes and leadership in sustainability are important to me. In a time of great change for all superannuation funds there is increasing focus on improving member investment outcomes, value and service.”

“I look forward to working with the Board, Executive team and all stakeholders to ensure the Fund is well positioned to maximise the value we deliver for members.

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Bruce Miller

Local Government Super (LGS, the Fund) has announced that its total funds under management (FUM) has reached $12 billion. This milestone demonstrates Australia’s growing appetite for genuine long-term responsible investment and reflects LGS’ ongoing commitment to achieving long-term sustainable returns for our members.

LGS’ acting Chief Executive Officer, Donna Heffernan, said: “We are extremely proud of the Fund’s strong growth and consistent performance over recent years. Looking back, LGS doubled its total FUM in just over seven years to reach $10 billion in April 2017, we then grew to $11 billion in March 2018 and now in June 2019 we have reached $12 billion.”

“This achievement is a testament to our long-standing commitment to responsible investments here in Australia and internationally. The core of our strategy is to align our investment philosophy with the needs and aspirations of our members. Our aim is to provide our members with the high levels of service and the value for money they need to achieve their retirement goals.”

LGS Chair, Bruce Miller, said: “LGS’ consistent and positive financial performance demonstrates why our responsible investment philosophy makes real commercial sense. We actively engage and educate our members about our approach and we strongly believe all super funds have a responsibility to invest and operate in a responsible and sustainable manner.

“LGS is committed to enhancing the retirement income of our members through the benefits of long-term sustainable returns.”

LGS recently achieved Australia’s first carbon neutral property portfolio certification by the Australian Government for all NABERS rated buildings in its property portfolio, and has achieved a 5-Star GRESB rating for its direct property portfolio.

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The 20-year anniversary comes shortly after LGS’ recent announcement that it has reached $10 billion in funds under management (FUM), up from $5 billion in just over seven years.

LGS Acting Chief Executive Officer, Donna Heffernan, said; “we are immensely proud of our first 20 years and there have been many highlights, including numerous industry awards, but the key to our success has been the focus on the needs of our members; the people who do such a great job serving our local communities.

“LGS was originally established as an industry fund to manage super for local government. Fast forward 20 years, and today LGS is a market leader in responsible and sustainable investment. We deliver tailored solutions and outstanding value to our members, and now anyone in the community can join and benefit from being a member of LGS.

“Our unwavering commitment to long-term growth sectors such as renewable energy generation, recycling and sustainable agriculture, together with competitive fees and a strong focus on local, personal service, has proved increasingly popular as Australians become more discerning when choosing a super fund to manage their retirement savings.”

LGS has been widely recognised for its leadership in responsible and sustainable investment practices and performance by a number of independent sources. Already this year, LGS has been awarded the top ranking in Australia and globally by the Asset Owners Disclosure Project (AODP), which annually ranks 500 of the world’s biggest investors based on how they manage the risks and opportunities associated with climate change.

Other recent accolades include:

• Best Green Super Fund 2017 (Money magazine Best of the Best Awards)
• Best Public Sector Fund 2016 (Super Review’s Super Fund of the Year Awards)
• Canstar Five-star rating 2017 for LGS Account-Based Pension Plan

LGS was also one of the first to be certified by the RIAA (Responsible Investment Association Australasia) as a responsible super fund.

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