LeavePlus Appoints JANA Investment Advisers as Asset Consultant

October 2024 

LeavePlus and JANA Investment Advisers (JANA) are pleased to announce the appointment of JANA as the asset consultant for LeavePlus, the $2 billion portable long service leave scheme for Victorian construction industry workers.

LeavePlus, formerly known as CoINVEST, has been a key partner to Victoria’s construction industry since 1976.  Rebranded in 2023, LeavePlus administers the portable long service leave scheme for 280,000 workers and more than 25,000 employers.  With nearly five decades of experience, LeavePlus is committed to supporting the well-being of Victoria’s highly mobile construction workforce, offering tailored long service leave benefits that meet the unique needs of the sector.

In a joint statement, Craig Bell, CEO of LeavePlus, and Georgie Dudley, CEO of JANA, expressed their enthusiasm for the collaboration.

Craig Bell, CEO of LeavePlus, stated:

“Our top priority is safeguarding the financial security of our members. Selecting JANA as our asset consultant ensures we have a partner with deep expertise in liability-driven investment strategies, enabling us to continue delivering on our promise of sustainable, well-managed long service leave benefits for Victorian construction workers. This partnership is a significant step in reinforcing our commitment to members and navigating the complexities of today’s investment landscape.”

Georgie Dudley, CEO of JANA, echoed this sentiment adding:

“We look forward to working closely with LeavePlus to support strong investment outcomes and prudent management for the long service leave entitlements of Victorian construction industry workers.”

Since its founding in 1987, JANA has earned a reputation as a trusted investment adviser, working with large superannuation funds, liability-aware investors, non-profits and family offices. JANA’s strength lies in its client-focused approach, developing long-term partnerships to deliver bespoke investment solutions tailored to clients’ specific needs. With a focus on sustainability and risk management, JANA offers expertise in investment strategy, asset allocation, and manager selection.

Greg Wilkinson, Head of Insurance Strategy at JANA, emphasised the importance of liability-driven investment in the current market:

“In today’s volatile market environment, liability-aware investors benefit from being equipped with carefully considered, well-diversified investment portfolios and an in-depth understanding of the interaction between the assets and liabilities on their balance sheets. Ensuring that JANA’s insurance and liability-driven client team includes a number of investment professionals who are also liability-experienced, qualified actuaries, means that JANA is strongly positioned to assist liability-aware clients consistently achieve their investment and business objectives.”

Lewis Tassone, Chief Finance and Investment Officer at LeavePlus, highlighted the rigorous selection process behind the appointment:

“Reaching this decision involved a thorough and robust procurement process, underpinned by principles of strong governance and due diligence. By partnering with JANA, we ensure that our members’ funds are managed with the highest level of oversight and strategic insight. JANA’s ability to combine top-tier investment advice with a deep understanding of liability management gives us confidence that we can deliver sustainable financial outcomes for the long-term benefit of our members.”

JANA officially commenced its role as asset consultant for LeavePlus on 8 October 2024.