Rest CIO Andrew Lill to Step Down

The first investment chief of the Australian superannuation fund will step down in November after more than four years in the post.

Rest, one of the largest superannuation funds in Australia with A$86 billion in assets under management ($58.87 billion), announced announced Thursday that the fund’s CIO, Andrew Lill, will step down from his position in November.

The fund will search to find a successor. While Rest was established in 1988, Lill was its first CIO when he joined in August 2020.

“I want to recognize and thank Andrew for the work he has done to create a strong foundation for the investments team in alignment with Rest’s unique member profile,” said Vicki Doyle, Rest’s CEO, in a statement. “The impact of Andrew’s efforts will continue to serve Rest’s 2 million members as we move forward with our strategic goals.”

Rest offers multiple retirement options. The fund’s core strategy returned 8.67% in fiscal 2024, which ended June 30, and returned an annualized 6.75% and 7.41% for the past 10 and 20 years, respectively.

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The fund’s balanced pension option returned 7.56% in fiscal 2024 and an annualized 6.27% and 7.11% for the past 10 and 20 years, respectively.

“I am very grateful for this opportunity to be Rest’s first CIO, which has stretched me and challenged me in very positive ways,” Lill said in a statement. “I am very proud of our team’s achievements in this time.”

Lill was previously at Morningstar from 2014 until 2020, first as CIO for the Asia Pacific region and then as CIO for the Americas. He was also the head of investment specialists and head of investment solutions at AMP Capital, a Sydney-based asset manager, and was director of investment strategy at Russell Investments.

Lill earned a master’s degree in economics from the University of Cambridge in England.

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UConn Endowment Returns 12.1% in Fiscal 2024, Plans Major Fundraising

Assets of the university's endowment rose to $634 million, and the organization has set its sights on reaching $1.5 billion in the next 10 years.


The University of Connecticut
on Monday announced that the university’s endowment, managed by the UConn Foundation, achieved a 12.1% return in fiscal 2024. During the period, which ended June 30, UConn’s endowment assets rose by $57 million to $634 million.  

Staff of the fund attributed the fiscal year’s returns to technology stocks, as well as diversification strategies. The endowment returned negative 1.07% in fiscal year 2023.  

“I want to congratulate the Board of Directors’ Investment Committee and our investment staff for decisions that led to strong growth, generating millions to support students, faculty, innovation, and a vibrant Husky community,” said Amy Yancey, the UConn Foundation’s president and CEO since February, in a statement. “Growing the endowment through sound investment strategy is as important to UConn’s mission and future as raising new gifts.” 

The fund achieved a 9.3% annualized return over the past five years. As a part of a strategic 10-year plan adopted last fall, the endowment stated its aim to achieve $1 billion in assets. In its most recent update, UConn announced it aims to achieve $1.5 billion in assets under management in its endowment by 2032 as part of an upcoming fundraising campaign.  

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