ABN Amro Reverse Mortgages is targeting an entirely different investor to the usual suspects in the institutional market - whitehaired retirees down at the local bowlo.
The investment manager has partnered with Bowls Australia to claim marketing rights associated with the sport and its tournament, the Australian Open, which will be televised on the ABC. It will also run seminars and campaigns for Bowls Australia members at Australia's 2100 clubs.
ABN Amro claims a growing retiree population is driving a surging interest in lawn bowls, but eyeFA wonders if the recent resurgence has more to do with a renewed interest in the sport from young people, who are rediscovering the delights of their gran's pastime. Now they can don the whites, down the cheap chardonnay and sign up to reverse mortgage the family home.
