Rest strengthens investment approach, digital member services

Rest is bolstering its total portfolio approach with a new mandate, while appointing an executive to help grow its digital member services.

Rest will implement UK-based Rimes' total portfolio view capability through its investment platform, Matrix, while focusing on transparency, controls, and operational resilience in line with the super fund's growth and regulatory obligations, it said.

Rest general manager, investment operations Joseph Youssef said Rimes' platform will accentuate the super fund's focused on transparency and operational efficiency to improve its management on investments.

Meanwhile, Rimes head of APAC Ross Allen noted the increasing need for trusted, decision-grade data among asset owners.

"We are delighted to be providing Rest with a comprehensive solution that supports reducing operational risk, increasing automation and the efficient execution of investment workflows," Allen said.

Separately, Rest has appointed Darran Arnott from AustralianSuper as general manager, digital to oversee its development of digital member services.

His appointment is effective April 28 and he will be based in Melbourne.

Bringing more than 20 years' experience in digital, technology and delivery leadership across the super and banking sectors, Arnott was most recently head of member platforms at AustralianSuper leading the delivery of digital and member servicing platforms.

Prior to this, he held leadership roles at CIBC in Toronto and NAB for more than 13 years.

Rest chief member officer Simone Van Veen said Arnott will be responsible for strengthening and expanding the digital interactions with members in his new role.

"Super should be easy to understand and simple to use so members feel empowered to make informed decisions and feel more confident about their future. Providing leading digital experiences is key to achieving this," Van Veen said.

"Darran brings a combination of strategic vision and hands-on delivery expertise, with a proven track record of building and scaling digital platforms that genuinely serve members.

"His experience across superannuation, banking and international markets will be invaluable as we deepen our digital capability and further simplify super for members."

Arnott said he is excited to be joining the $100 billion super fund.

"I am thrilled to be joining Rest and look forward to building on their strong foundations as a digital-first organisation. With a highly rated append broader digital ecosystem designed for member-focused service, the team are in a great position to continue to drive seamless experiences for members," Arnott said.

"Having spent my career at the intersection of digital, technology and delivery in financial services, I know how transformative it can be for members when you get the digital experience right."

Notably, Rest recently restructured its investment division, including Sonia Bluzmanis stepping into the role of head of strategic, partnerships, investments, based in London.

March quarter update

Simultaneously, the super fund reported its Q126 update, with all options recording negative returns but Cash across its super and pension offerings.

Its default Growth option returned -2.03% during the March quarter, while its pension default Balanced option delivered -1.55% in the same period.

Rest lamented the performance was the result of the developments across the Middle East and disruption from the technology sector, largely revolving around artificial intelligence (AI).

"The situation in the Middle East remains uncertain. A relatively fast resolution is likely to see markets stabilise, although oil prices may take some time to ease as supply is normalised. This scenario would support a more favourable growth outlook," Rest said.

"If the situation persists, higher interest rates for longer could slow global economic activity. Given these uncertainties, we expect market volatility to remain for the near term."

At the same time, Rest said AI is reshaping how economies grow and how people work - and it's happening faster than expected, while its unlisted assets, including private equity and infrastructure, performed strongly over the quarter and helped offset returns from shares and bonds.