Financial services firm IOOF has added to its alternatives team with the appointment of a new portfolio manager.
Ray King, who has held asset management roles at Industry Fund Services and Towers Perrin, has been hired to head up IOOF's alternatives team.
In his new role, Mr King will be responsible for the strategy, growth and investment performance of the IOOF alternatives portfolio.
Commenting on the appointment, IOOF chief investment officer Steve Merlicek described Mr King as a "respected industry leader".
"He is a very capable specialist on alternative assets, having worked as an adviser with a vast number of superannuation funds since 1990 to establish some of the largest investment programs in Australia," Mr Merlicek said.
"Ray’s appointment reflects the importance we ascribe to alternative investments within the IOOF multi-manager portfolios."
Mr King will be based in IOOF's Melbourne office.