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Scott Tully

Presentation Details

  • Topic: Managing portfolio risk to match the objectives of superannuation members.
  • Time: 9:20am - 10:10am

Members of superannuation funds typically have a risk profile which is disconnected to many traditional measures of risk.  Members' objectives are ultimately long term and related to having sufficient funds in retirement for a comfortable lifestyle. Traditional measures of risk are often calculated over a short to medium term horizon and, while useful tools in managing portfolios, are not directly related to the member objective. 

The recent MySuper reforms have encouraged the development of lifecycle investment strategies. The outcome is that superannuation funds are now tailoring portfolio risk in a way that better matches member objectives. This talk will discuss the evolution of lifecycle investing in the Australian market and consider how such approaches will develop over time.


Scott Tully joined Colonial First State in March 2002 after the merger of Colonial First State and Commonwealth Investment Management. He is head of the FirstChoice Investments team, responsible for managing Colonial First State's range of FirstChoice multi manager, multi-index and lifestage portfolios. The FirstChoice portfolios have total funds under management in excess of $25 billion.  In 2013, Scott was instrumental in launching FirstChoice Lifestage, Colonial First State's MySuper investment option for members who do not exercise investment choice.

Scott holds a Bachelor of Science (Mathematics) from the University of NSW and a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia.

Previous roles include:

  • superannuation consulting with William M Mercer,
  • an actuarial analyst with the State Bank of NSW, and
  • several positions in credit, market risk and financial markets as the State Bank of NSW evolved after its acquisition by the Commonwealth Bank.