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.
Northern launches localized service for Greater China
Northern Trust is expanding its fund administration and custody capabilities to support locally domiciled Hong Kong funds, including ETFs, and other regional investment funds. Northern will provide global sub-custody and fund admin, including accounting and shareholder services, for asset managers wanting to expand their product base in the region.
Camie West, Northern’s head of global fund services in Asia, said the company recognized significant demand from investors, managers and regulators for local products in Hong Kong and Greater China.
“This service offering provides our asset manager clients with improved access to these markets through locally domiciled vehicles, coupled with Northern Trust’s fund administration expertise and proven global infrastructure,” she said.
There has been an increased focus on Asia among international asset managers, while local Asian managers have also been looking to expand more internationally.
Paul Fahey, Northern’s head of product and strategy for global fund services, said: “We are increasingly moving up the value chain, helping managers implement and execute effective cross-border distribution strategies to help them build their assets and scale quickly.”
