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.
Appointments and disappointments
(Stephen Dunne)
Two big industry funds have recruited an economist, Brian Parker, and a senior researcher, Andrew Baker, while AMP Capital’s long-time managing director, Stephen Dunne, announced his retirement from later this year and John Phokos left NSW Workcover.
Sunsuper has recruited Brian Parker, an economist who has been with the NAB group for about 10 years, most recently as head of the portfolio specialists group at MLC and NAB Asset Management. He fills the newly created role of chief economist.
AustralianSuper has hired Andrew Baker, the founder of wealth management research firm Tria Investment Partners, who left there in March. He will become head of ‘proposition and product’ at AustralianSuper, reporting to Paul Schroder, the fund’s group executive, membership.
Stephen Dunne said he would leave AMP Capital, of which he has been managing director for 12 years. The firm has instigated a global search for a replacement. He has been at AMP since 1994, joining the investment company in a sales role before progressing through the ranks.
John Phokos has left NSW Workcover, where he has been senior investment analyst for the past nine years. The fund’s portfolio management functions are being amalgamated with those of State Super of NSW (STC) and NSW Treasury Corp. He previously worked at JP Morgan and Commonwealth Bank in performance analytics roles.
