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.
BNP picks up $1b from Certitude
(Pictured: Craig Mowll)
Certitude Global Investments has appointed BNP Paribas Securities Services as custodian and administrator for 14 unit trusts. The trusts have about $1 billion in assets under management.
Certitude is an independent global fund-of-funds manager. Some of its underlying managers include Threadneedle Investments (UK), Lighthouse Partners (US), Marshall Wace Gavekal Asia-Pacific (Hong Kong) and Columbia Management (US).
“Certitude needed a global custodian that understood our future growth strategy in Australia,” said Craig Mowll, the company’s CEO. “After a very thorough analysis of the market we found BNP Paribas’ large and ongoing investments in both people and technology solutions were very important to us and appointing them has allowed us to future-proof our operations as a part of our growth strategy.
Peter Baker, head of BNP Paribas Securities Services Australia, said: “We are delighted that Certitude chose us. Our commitment to Certitude, and all of our clients, is to partner with them to optimise their operations, minimise their risks, enhance their performance wherever possible.”
