Damien Webb, deputy chief investment officer at Aware Super, has resigned and will join Brighter Super as its new Chief Investment Officer in April. This move follows Webb’s unsuccessful bid for the CIO position at Aware Super, which was recently filled by Simon Warner. Aware Super is the nation’s third-largest retirement fund. Brighter Super is a mid-tier fund that manages retirement savings for its members.
Webb spearheaded Aware Super’s expansion into the UK and established its London office in 2023. Although currently based in the UK, he will relocate to Sydney to assume his new role at Brighter Super. He stated that this was a “fantastic opportunity” and outlined plans to transition the fund from a strategic allocation strategy to a total portfolio approach.
The total portfolio approach places greater emphasis on a fund’s overall returns, rather than focusing solely on the performance of individual asset classes. Webb aims to build upon the existing strategy, enhance performance where possible, and ensure members’ savings are managed effectively to deliver strong returns.
Webb also noted that the investment approach will reflect members’ values and support broader investment objectives. His appointment signals a significant shift in Brighter Super’s investment strategy, with a focus on optimising overall portfolio performance to benefit its members.
