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Showing 1 - 10 of 16558 results for "ACT"

Legalsuper names chief investment officer

JAMIE WILLIAMSON  |  THURSDAY, 28 MAR 2024
Paul Murray took over as chief investment officer at legalsuper on March 11, succeeding Norman Zhang who departed in December 2023 for a role at Koda Capital. Murray was most recently interim head of alternatives at Future Fund, a role he took on after ...

ASIC wins greenwashing case against Vanguard

JAMIE WILLIAMSON  |  THURSDAY, 28 MAR 2024
... that were false or misleading." Today, Justice O'Bryan found Vanguard broke the law numerous times, breaching the ASIC Act when it made representations about the screens it was applying to the fund. This was to have occurred between August 2018 and ...

Infrastructure a foundational portfolio asset class: IFM Investors

ANDREW MCKEAN  |  THURSDAY, 28 MAR 2024
... exposure to the US may see a rise in infrastructure opportunities in the coming years as the impact of the Inflation Reduction Act becomes fully apparent. Half of the Act's US$739 billion has been allocated to clean energy and climate investments, which ...

Financial Conduct Authority cracks down on finfluencers, firms

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... promote financial products in the course of business without approval under section 21 of the Financial Services and Markets Act 2000 from an appropriate authorised person are likely engaging in an illegal promotion. Firms that approve the finfluencers' ...

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... the income test of earning $250,000 for two consecutive years. This is regulated by section 761(G) s7 of the Corporations Act. "The complainant, on the other hand, said that was the incorrect test to apply and for that reason the financial firm couldn't ...

HMC Capital acquires asset manager

ELIZA BAVIN  |  THURSDAY, 28 MAR 2024
HMC Capital has successfully acquired North American Digital Infrastructure asset manager StratCap in a deal worth $43.7 million. HMC Capital announced its intention to acquire the company in its 1H FY24 results on February 20. The transaction is expected ...

Platinum bleeds $1.4bn in outflows

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
Platinum Investment Management flags it will lose at least $1.4 billion as a partial redemption from institutional clients over the next month, translating to an $18 million hit to revenue. One large client told the fund manager that it intends to rebalance ...

Jo Townsend named chief executive of NZ Super

ELIZABETH FRY  |  WEDNESDAY, 27 MAR 2024
One of Australia's most experienced superannuation executives will take the helm of New Zealand's sovereign wealth fund, following Matt Whineray's departure late last year. Guardians of NZ Superannuation have appointed Jo Townsend as head ...

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
... from the client. Recommendation 13.1, for example, should amend the conflicted remuneration provisions in the Corporations Act to explicitly provide that both monetary and non-monetary benefits given by a client to an AFS Licensee or a representative ...

PE deals tumble again, down 63%: Bain & Company

KARREN VERGARA  |  TUESDAY, 26 MAR 2024
The Australian and New Zealand private equity sector took another tumble, sharply falling 63% in value during 2023 as high interest rates and market uncertainty continues to spook investors. This is the second year in a row that saw deal values decline ...
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