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Generation Y
Tim Macready, 30
CIO, Christian Super
You might ask, "At only 30 years old, how did Macready rise up the ranks so quickly?" Macready joined the now roughly $600 million Australian superannuation fund in 2005 as a development manager—a broad-reaching role overseeing the ethics process and a range of other duties. "I had the fortune of joining Christian Super when it was very small at the time, so I could be nimble and innovative," he says, explaining his rapid trajectory of success at the fund. When he started there were only three people—this number stands at 16 people today.
As with a number of other superannuation funds in Australia, the scheme is heavily involved in environmental, social, and governance (ESG) related issues. The way the scheme differentiates itself, Macready says, derives from its application of ethical principles. "We apply what we would call ethical and responsible investment across the whole portfolio. We don't invest in alcohol or tobacco. Instead, we have made investments in renewable energy, technology, social infrastructure, and sustainable agriculture." The scheme also lends money to microfinance initiatives oversees and supports community finance efforts by helping nonprofits in Australia, which are engaging directly with companies on social and environmental issues. This do-gooder fund is surely a minority within the institutional investing landscape overall. So what is the solution to ESG barriers that still permeate the environment? "The failure to look at investments on a long-term horizon is a barrier to ESG," Macready asserts. "Investors need to change the perception that ESG costs money—that it focuses on negative screening as opposed to profit-making. It's false."
Generation Y: The title says it all: These are the prodigies of the asset owner universe. Wet behind the ears? Perhaps. Bright-eyed and bushy-tailed? Maybe. But these five are no charlatans, and if they tie themselves to the asset-owning mast as the siren song of hedge fund riches sounds, they will be The Establishment of asset owning circa 2025. Our bold guarantee: At least one of the following young'uns will manage one of the top 10 funds in the world in under 15 years.