Manufacturing News

NRF appoints inaugural Chief Investment Officer

Manufacturing News

The entity charged with investing $15 billion on behalf of the federal government to diversify and transform the national economy has appointed its inaugural Chief Investment Officer (CIO).

In a statement on Friday, the National Reconstruction Fund Corporation announced Dr Mary Manning’s appointment in the role. She will begin next month.

She will “oversee investment strategy and portfolio management” for the NRF, according to the statement, following the appointment of the NRF Corporation board in August last year. 

“I am excited to join the team at the NRFC and take charge of its pipeline of compelling investment opportunities,” said Manning.

“We have a clear mission to supercharge our seven priority areas, while delivering the targeted return on investment. By investing at scale and with impact, we will help build the foundation of Australia’s economic future.”

The NRF received its investment mandate in November 2023 and is yet to back a company.

Investments will be made in the form of loans, equity and guarantees.

Manning was most recently Portfolio Manager at Aphinity Investment Management, and her career includes senior investment positions at Oaktree Capital and Soros Funds Management. She has an MBA from Harvard Business School and a PhD in Economics from the University of Sydney.

“We are delighted to have someone of Mary’s calibre to join the NRFC and lead its investment strategy. Mary’s extensive funds management experience in Australia and globally makes her the ideal candidate to work with our existing team to deploy the NRFC’s $15 billion,” Chair Martijn Wilder and CEO Ivan Power are jointly quoted as saying.

The NRF’s seven priority sectors are renewables and low emission technologies; medical science; transport; value-add in agriculture, forestry and fisheries; value-add in resources; defence capabilities and enabling technologies. 

Its mandate includes a targeted rate of return “of between 2 and 3 per cent above the five-year Australian government bond rate over the medium to long term.”

Picture: credit

Further reading

Legislation to launch National Reconstruction Fund to be tabled tomorrow

Labor’s national reconstruction fund: a path to reindustrialisation?

National Reconstruction fund investment mandate released

3 ways to help the $15 billion National Reconstruction Fund revive manufacturing

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