Aveo Springfield is running ahead of schedule thanks to strong interest from local over 50s.LOCALS are snapping up retirement living in Springfield, pushing construction ahead of schedule for what will eventually be Australia’s largest fully-integrated age-friendly retirement village. Aveo Springfield has had more than 300 sales inquiries with at least 80 per cent from savy locals for its $1 billion development which will eventually provide more than 2,500 dwellings and a range of facilities.Aveo’s executive general manager of development Gary Kordic said interest had been mainly from locals looking to retire close to their family and taking advantage of the first-class amenities on offer.“It’s great to see strong local interest from the Springfield area, with buyers attracted to theaccessible and interconnected village design with a range of lifestyle, health, and care services right at their doorstep,” he said.More from newsMould, age, not enough to stop 17 bidders fighting for this home1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor7 hours agoStage one of the development includes 66 independent living units in Building A, which will also house a dining and bar area, cafe, fully equipped gymnasium, specialist suit and hairdressers as well as a shared community recreational park which will be open to the general public. Aveo Springfield is leading the way in retirement living with locals wanting in.“Having been designed as a social and intergenerational community, Aveo Springfield will provide a supportive environment for residents with an array of living options, including a full-service aged care facility, to meet their long-term needs,” Mr Kordic said.With the project tracking strongly, it is set to welcome residents into the community from June, ahead of schedule.The retirement community is also set to be home to a child care centre giving retirees the chance to remain connected to their grandchildren and extended family throughout their retirement.Aveo Springfield is positioned in Springfield Central’s Health City and next to the Mater Private Hospital.Aveo is currently home to 13,000 residents in 90 retirement villages across Australia.
Incorporating environmental, social and corporate governance (ESG) factors improves outcomes for corporate bond investors, according to a report from JP Morgan Asset Management.The asset manager found that ESG scores could enhance portfolio outcomes via lower drawdowns, reduced portfolio volatility and, in some cases, marginally increased risk-adjusted returns.Although its study showed that using ESG scores improved gross portfolio returns for all categories of corporate bonds, this only held true for investment grade corporate debt once transaction costs were accounted for.The study involved back-testing portfolios of investment grade, high yield and emerging market debt, comparing their benchmarks with a portfolio constructed using MSCI ESG scores. The asset manager also set out to find out whether ESG scores differed from traditional agency credit ratings, and said the study suggested that MSCI scores were “additive” to traditional credit ratings.“The contingent liabilities related to ESG issues are not necessarily factored into rating agencies’ assigned ratings,” said Lovjit Thukral, vice president for global fixed income, currency and commodities (GFICC) at the asset manager and report co-author with Bhupinder Bahra, co-head of the quantitative research group for GFICC.According to Thukral and Bahra, the study showed that MSCI’s ‘E’, ‘S’, and ‘G’ scores were generally not related to one another or to credit agency ratings. In the investment grade segment, the governance score was negatively related to credit agency ratings.Another result of the study was that ESG benchmarks (of issuers covered by MSCI) had an inherent quality bias in terms of the performance metrics.In 2017, Hermes Investment Management found that there was a significant relationship between companies’ ESG credentials and their credit spreads. It recently turned its attention to ESG risks in sovereign bond markets, as did BlueBay Asset Management.Rating agencies have moved to more clearly demonstrate how ESG considerations feed into their credit analysis in response to pressure from investors.