Opening up early access to super for housing would have a negative effect on the balances of even those members that don’t dig into their savings, with funds forced to adopt more conservative investment strategies and hold more liquid assets.
The circa $88 billion industry fund for workers in health and community services reckons that alleviating the affordable housing crisis will boost its other investments by easing the cost of living and inflation.
Bank of Montreal to launch Australian AM office
Bank of Montreal’s asset management business – BMO Global Asset Management – is on the verge of launching in Australia with the appointment of a full-time marketer for its institutional strategies, following a search by recruitment firm Russell Reynolds.
BMO Global Asset Management, which has total funds under management of about $US70 billion, is headquartered in Toronto and Chicago for its main manufacturing businesses: BMO Asset Management Canada and BMO Asset Management US.
It owns four independently operated boutiques. Its distribution is throughout North America, Europe and Asia – including offices in Hong Kong, China and the Middle East. Australia had been a notable exception.
The boutiques under the BMO umbrella are HK-based Lloyd George Management, Toronto-based Monegy, London-based Pyrford International and Miami-based Taplin, Canida&Habacht.
The recruiter was believed to be at or near the contract stage of the process in Australia last week.
