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Quickfire Q&A: Stefan Dunatov, CIO of Coal Pension Trustees

Quickfire Q&A: Stefan Dunatov, CIO of Coal Pension Trustees

Name: Stefan Dunatov

Job title: Chief Investment Officer

How long have you been in your current role: Five years

Name of pension fund: Coal Pension Trustees

AUM: £20 billion

We met Dunatov at the Coal Pension Trustee’s office in London. It is here that the investment team oversee two pension funds – the British Coal Staff Superannuation Scheme (BCSSS) and the Mineworkers pension scheme, which have assets of £9 billion and £11 billion respectively.

We covered a broad range of topics from Brexit to their shipping exposure, all while sitting under framed pictures of the tankers they have invested in. But we wanted to find out what really makes him tick, or ‘floats his boat’ if you will…

1. What’s the biggest challenge you face day-to-day in your role?

Stakeholder management; making sure you are always communicating enough to those who matter.

2. Summarise your pension scheme in three words

For the members.

3. How do you see the institutional investment world in 10 years’ time?

Investment and retail banks separated completely, asset management margins collapsed, fiduciary management in consultants weeded out.

4. What are you reading at the moment?

Great People Decisions by Claudio Fernandez Araoz.

5. What is your guiltiest pleasure?

I couldn’t tell you that!

6. If you were a journalist, what investment stories would you be investigating and why?

What happens after central banks have run out of government bonds to buy? Because no one has any clue.

7. What is the number one trait you look for in an asset manager?

Alignment of interests with our objectives.

8. What stands out about your investment strategy?

Being prepared to own anything that improves the outcomes for members.

9. What annoys you about modern day life?

People checking their phones all the time. Does it really matter if you have missed a call or received some information a bit later than you otherwise would?

10. You are hosting a dinner party this evening, which three people from the investment world would you invite and what are you cooking?

Warren Buffett, Keith Ambachtsheer and Ray Dalio. Seared scallops wrapped in bacon with Kumeu River chardonnay; roast NZ lamb with a Brunello; chocolate mousse with Canadian ice wine. Coffee.

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