Rest CIO wants more flexibility as Jim Chalmers reviews super tests
Eight months into his CIO role at the super fund, Michael Clancy divulges his thoughts on regulation, leading the investment team and how AI has changed his job.
Rest chief investment officer Michael Clancy wants the federal government to give superannuation funds more flexibility with their investment activities when Treasurer Jim Chalmers unveils long-awaited changes to the performance tests.
Speaking to Capital Brief in a wide-ranging interview, Clancy said the $105 billion retirement fund is supportive of the current performance tests and the discipline it imposes on those managing investments on behalf of Australians. But he flagged a desire held by many in the industry for more flexibility, amid concerns the current rules stifle investments in startups and venture capital.
“In an odd kind of way constraints are good. Constraints encourage you to be really thoughtful about the things that matter and to be creative and innovative,” he said.
“Having said that, if the government chooses to allow some flexibility into the performance test, then that’s great if it’s well thought through.”
