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.
Prugue’s personal mental illness awareness campaign
(pictured: Rob Prugue)
Rob Prugue, the high-profile regional chief executive of Lazard Asset Management, has embarked on a personal campaign to raise awareness for mental health issues and to stop the stigma still attached.
Working with Lifeline, Prugue is personally organising a campaign to build and promote an app which could be of enormous benefit to people, particularly more tech-savvy young people, in times of severe mental stress.
The campaign will be launched at a music event at Sydney’s ‘The Basement’, an iconic music venue, on November 24. The evening, which features the band Mental as Anything (after running the ironic choice by Lifeline first), will also be addressed by Margo Lydon, the SuperFriend chief executive. SuperFriend is the organisation formed by a number of big super funds and supported by some group insurers, to focus on mental health problems in the workplace.
Prugue says he was driven to start such a campaign because he was affected by the suicides of five friends since the start of the year alone. This prompted his own “awareness” education program. He wrote to his many friends recently:
“Imagine how much better the stats on suicide would look if there were no stigma assigned to mental disorders?”
“This question has really struck a chord for me. You see, since the start of this year, I have sadly lost five friends to suicide; six if you include acquaintances. And when I reflect as to how and why, I still can’t help but feel somewhat guilty for not having done enough, for not having recognized their plight, and for not being there for them. Had I been more informed as to identifying the “signals,” perhaps…. This haunts me.
“So, my education towards mental illness had begun in earnest, and what I’ve learned is truly shocking. For example, were you aware that suicide is THE number one killer for men from the ages of 15 to 44 years? More than cancer, more than car accidents, more than all others. Sadly, these shocking stats look even worse within rural Australia. When discussing this with friends in Super Funds, they further added how suicides are a big part of their pay outs, which of course makes total sense given the aforementioned stats.
“I reached out to friends, some of whom were involved with suicide prevention groups. One mentioned how their hotlines are heavily utilized, but they appreciate that there are some who are unwilling to call their toll free line. Perhaps this is more noticeable with the younger generation, who often prefer to spell “LOL” than actually Laugh Out Loud. It was then that an epiphany sparked. What about developing electronic communication, through a smart phone, which allows the person to text directly to a counsellor? Were it through an app, for example, this could equally allow phone, video, and if willing, activate a GPS so the counsellor on the other side is aware of their location. Perhaps through such a mode would yield greater access in connecting with a generation preferring to chat rather than converse, a generation unable to express their thoughts through communication, but able to through written words, a generation which prefers anonymity over face to face communication.
“So, while only a drop in this immense bucket, I have an idea, one with which I hope you’ll be able to join. Working with Lifeline, I am starting a group of likeminded caring souls to help change two things:
- Help educate our broader community so as to chip away at this horrible stigma attached with mental illness; and,
- Help raise much needed funds to allow help centres extend their reach more broadly, such as the aforementioned smart phone access.
“I fully appreciate that many are already championing some very worthy causes, so last thing I wish to do is to add to your already heavy workload.
“However, on the Thurs 24th of November, I have hired The Basement for the night, a wonderful jazz venue in Circular Quay. Working with Lifeline, we will throw an event which will bring together both speakers and entertainment with the hope of both raising some money while working together to help educate against this horrible stigma. I would very much welcome you joining us on the night, let alone helping me by spreading the word on inviting others. The more who attend, the larger the army to help spread the word. The more we can spread the word, perhaps, just perhaps, we can minimize this stigma.
“Please lock in this date in your calendars now, and I will reach out closer to the event with information about the speakers and entertainment…”
Given Prugue is not using Lazard Asset Management resources in his campaign, Investor Strategy News would like to help and welcomes emails from anyone wishing to attend the November 24 event. We will then contact you when registrations open. Email: [email protected] Or feel free to phone me on 0417 241 440.
