IOOF appoints CIO
IOOF has announced its chief investment officer, Steve Merlicek, will retire from the role after eight years and has appointed Dan Farmer to succeed him.
Merlicek will remain as a member for the investment management committee following his retirement on 30 June 2017.
IOOF managing director, Christopher Kelaher, said: "Steve has made an outstanding contribution to IOOF and has been instrumental in delivering impressive investment out performance over the long-term".
"Steve has also built a strong capable investment team, testament to which is the elevation of Dan Farmer to the chief investment officer role," he said.
Farmer has been with IOOF for seven years and is currently portfolio manager for Australian equities.
"I am very pleased that we have the talent and bench-strength to appoint an internal successor… I am confident that Dan and the investment team will continue the strong track record of investment outperformance following the planned transition," Kelaher said.
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
