Funds SA Appoints an Interim CIO

By Muskan Arora

The $43 billion Funds SA appointed Matt Kempton as acting CIO, following the departure of Richard Friend in May.

In the role, Kempton will oversee the development and implementation of investment strategy, investment implementation and management of the fund manager’s investment options.

The acting CIO joined Funds SA as director of equities in 2018 and then progressed to become the deputy CIO in 2021.

Prior to that, he served as the head of investments at $7 billion ESSSuper for five years, where he was responsible for the development and implementation of investment strategy.

He also handled about $40 billion in defined benefits assets for the State of Victoria.

Before that he has worked as a consultant at Frontier Advisors and capital transaction manager at ISPT.

About the asset manager

In the year 2022-23, the returns ranged from 3% for cash investment option to 12.1% for the Socially Responsible Investment (SRI) option. The strong performance of the SRI option was due to its exposure to the technology sector in global equities. 

The long-term returns since inception in 1995 for Balanced Tax-Exempt investment strategy is 7.9% per annum (p.a.) and the State's Defined Benefit strategy has returned 8% p.a.

The firm manages over $41 billion on behalf of its clients which include endowment, superannuation, insurance and investment. 

(Imagine: Matt Kempton’s LinkedIn)