Bev Durston, the head of alternative assets at the British Airways pension fund (BA Pensions), has resigned and intends to head home to Australia after five years at the fund in London. Durston, who is also a trustee, established the fund’s alternative investments capability.
Durston held senior investment roles at the Government of Singapore Investment Corporation, Sunsuper, where she was deputy CIO, and Commonwealth Superannuation Corporation, prior to joining BA Pensions.She leaves at the end of this month and will return to Australia later this year to seek another role within the industry.
She said last week: “It has been great establishing the alternatives portfolio for BA and developing this area from scratch over the past five years. My 24 appointed funds, since July 28, have returned approximately 16 per cent per annum for both APS (Airways Pension Scheme) and NAPS (New Airways Pension Scheme), with below 6 per cent volatility and a low correlation with other assets.
“I am confident that the portfolios are in good shape and that we have an excellent pipeline of new ideas. So, now for a return to warmer climes Down Under.”
BA Pensions has both defined benefit and defined contribution arms.