IOOF hires new alternatives portfolio manager

Mr King will be responsible for strategy, growth and the investment performance of the IOOF Alternatives Portfolio, consisting of investments outside the traditional asset classes.

He has more than 25 years' industry experience, having previously held asset management roles at Towers Perrin and Industry Fund Services, being responsible for developing their asset consulting and funds management businesses, an IOOF statement said.

Mr King also founded Sovereign Investment Research, which provides specialist investment advice and consulting to institutional investors and investment managers.

IOOF chief investment officer Steve Merlicek said Mr King is a respected industry leader and is delighted he is joining the team.

“Ray’s appointment reflects the importance we ascribe to alternative investments within the IOOF multi-manager portfolios,” Mr Merlicek said.

“He is a very capable specialist on alternative assets, having worked as an adviser with a vast number of superannuation funds since 1990 to establish some of the largest investment programs in Australia.”

Mr King was the founding chair of the Australian chapter of IMCA in 2000 and he was made a life member in 2012, the statement said.