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.
Youngman joins Ausbil to run insto business
(Pictured: Ross Youngman)
Ausbil Investment Management has hired experienced fund manager Ross Youngman as head of institutional business, following the departure late last year of its long-time marketer Adam Lancaster.
Youngman was co-founder, with Chris Selth, of the Five Oceans Asset Management global boutique which shut its doors last year after eight years of operations. Like Selth, Youngman is an alumnus of the former Bankers Trust, including heading up the firm’s New York funds management office for several years.
Paul Xiradis, Ausbil’s chief executive, said: “Ross has a demonstrated ability to direct and implement sales initiatives and manage external relationships, including consultants, clients and strategic prospects, across institutional, retail and alternatives channels. He also has significant leadership experience across large and small executive teams covering investment, distribution and operational personnel.”
Youngman starts his new job today, April 20. Ausbil last year got a new major shareholder, New York Life Investment Management, which replaced Dexia on the registry. Staff and management own about 50 per cent of the $10 billion firm.
