The Investment Manager – IBA Asset Management
- set the overall strategic direction and investment strategies of the Funds, including their investment objectives, risk tolerance and the strategic asset allocations;
- exercise oversight of the Funds and monitor their performance;
- choose, monitor the performance of and, if necessary, replace the Investment Consultant to the IPF; and
- provide general financial product advice to the Trustee on matters relating to the management of the Funds.
The Investment Manager is a wholly owned subsidiary of IBA. It has a majority of independent board members and an independent chairperson. The board brings significant experience in investment, governance and Indigenous affairs. Biographies for each director are set out below.
IBAAM Board of Directors

Dr Doug McTaggart
Prior to this appointment, Dr. McTaggart held roles including Professor of Economics and Associate Dean at Bond University (1989-1996), and then Under Treasurer, Queensland Department of Treasury (1996-1998). He was a member of the Council of Australian Governments (COAG) Reform Council (2007-2013) and Councillor on the National Competition Council (NCC) (2000-2013).

Kate George
Kate has been involved in Aboriginal affairs in the state, national and international arena for over 40 years. She has also held senior public service positions, including Ministerial Advisor at a State and Federal level.
Prior to commencing her present role with a national Indigenous management consulting firm she worked in the Pilbara focusing on creating economic development opportunities between traditional owners and the private sector with a view to contributing to the strengthening of an economic base for Aboriginal people. A major residential land development Kariyarra Mugarinya Property JV in South Hedland is an example of her activities in this area. She was CEO of the project company over a 7 year period getting the project off the ground including sourcing the financing. Project completion occurred in February 2013 with a pre-tax profit of over $20m intended for future Aboriginal enterprise development.
She has worked in the private, public and non-government sectors. In the early 1990’s she wrote the first Aboriginal training and employment strategies for companies in the resources industry. She has been a director on numerous not-for-profit Boards and currently holds director positions on two national Boards.

Chris Breach
He was a non-executive director on the Asia Pacific Data Centre Trust (ASX: AJD) from its initial listing on ASX in 2012 to its privatisation in 2018.
Until 2010, Mr Breach was Managing Director and Licensee of Macquarie Asset Services Limited (part of Macquarie Group Limited) and an executive director of Macquarie Group Limited. Mr Breach was also an early initiator of a due diligence product that became a cornerstone of real estate investment over the last 25 years.
Prior to joining Macquarie Group, Mr Breach was the Director of Valuations and Corporate Real Estate at Jones Lang Wootton.
He holds a Diploma in Estate Management from Kingston upon Thames Polytechnic and a Diploma in Financial Markets from the Securities Institute of Australia. He is a Fellow of the Royal Institution of Chartered Surveyors and a Fellow of the Australian Institute of Company Directors.
Mr Breach was also the Chairman of Charities Aid Foundation from 1999 to 2009, an initial director of the Sydney Community Foundation and a director of Dana Asia. He was also a real estate adviser to Social Enterprise Finance Australia until 2020.

Rhea Diacopoulus

David Ross

Cronje Wolvaardt
Mr Wolvaardt sits on a range of boards and is an Executive Director on the board of the Investment Manager, as well as the Director of Investment and Business Solutions at IBA, where he is responsible for overseeing a diverse multi-asset and loan portfolio with assets valued in excess of $600 million. Mr Wolvaardt has previously held the role of Head of Fund Products and also Head of Acquisitions for IBA. He holds a Bachelor of Accounting and is a Graduate of the Australian Institute of Company Directors.
I-REIT Investment Committee Members
An investment committee has been appointed by the Trustee based on recommendations of the Investment Manager to approve matters relating to the I-REIT including:
- acquisitions and divestments;
- new leases or lease renewals that constitute 30% or more of the gross revenue of the relevant Property;
- debt finance facilities;
- material redevelopment or refurbishment of a Property; and
- certain related party transactions.
The Investment Committee currently comprises 5 members. Decisions are made by a two-thirds majority with each member having a single vote.
The members of the Investment Committee may change from time to time.

Steven Leigh
His prior roles also include Managing Director of Trinity Limited and subsequently the Chief Executive Officer of the wholesale unlisted funds management business. Following LaSalle Investment Management’s acquisition of Trinity Funds Management, Mr Leigh held the position of Head of Australia for LaSalle Investment Management. He is a non-executive Director of the ASX listed stapled entity, National Storage REIT. Mr Leigh is also one of the founding members of Male Champions of Change established by the Property Council of Australia. He started his career as a valuer with National Mutual Life.
Mr Leigh is a graduate of Gatton College (now part of the University of Queensland) and the Queensland University of Technology in the disciplines of real estate valuation and project management.

Francina Turner
Ms Turner is a governance and risk consultant to the Royal Botanic Garden and Domain Trust and investment manager for a family office. Ms Turner was the Managing Director and Company Secretary for Asia Pacific Data Centre Group (2012 to 2017), having previously worked at Stockland, Lend Lease Corporation and Macquarie Group Limited (1995-2010). At Macquarie, Ms Turner’s positions included Trust Manager for unlisted property syndications and General Manager of the listed LeisureWide Property Trust. She also has held voluntary non-executive positions for not-for-profit organisations.
Ms Turner is a graduate from the University of New South Wales (Bachelor of Commerce in Marketing and Hospitality Management).

Shane Hamilton
Shane is currently a Director at Inside Policy and came to the role after almost two years with PwC’s Indigenous Consulting Services, where he was the NSW/ACT Director, managing teams in both states, a role that required him to leverage the strong relationships he built and fostered in his previous roles.
Prior to that, Shane made a significant contribution to the Aboriginal Housing Office in NSW, leading the business through an organisational transformation, and re-establishing the AHO as a place of innovation and commitment through its supporting Aboriginal communities and businesses, and promoting choice and equal access to housing for Aboriginal families.
Shane is experienced in the development of Business partnerships between the corporate sector and NFP or Government entities, and was instrumental in establishing Position Promo and First Nations Blockchain, both Indigenous majority owned businesses.

Cronje Wolvaardt
Mr Wolvaardt sits on a range of boards and is an Executive Director on the board of the Investment Manager, as well as the Director of Investment and Business Solutions at IBA, where he is responsible for overseeing a diverse multi-asset and loan portfolio with assets valued in excess of $600 million. Mr Wolvaardt has previously held the role of Head of Fund Products and also Head of Acquisitions for IBA. He holds a Bachelor of Accounting and is a Graduate of the Australian Institute of Company Directors.
The Trustee – One Managed Investments Funds
One Managed Investment Funds Limited (OMIFL), a subsidiary of One Investment Group Pty Ltd, is the trustee of the IPF and I-REIT. One Investment Group Pty Ltd is an independent Australian funds management business that focuses on providing responsible entity, trustee, custody and administration services to funds.