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ECB drops interest rates to 3.75%

KARREN VERGARA  |  FRIDAY, 7 JUN 2024
... its 2% medium-term target in a timely manner. In mid-May, ECB vice president Luis de Guindos said geopolitical risks continue to cloud the outlook for financial stability. "While financial stability conditions have improved in line with reduced recession ...

HNWIs wealth reaches unprecedented levels

ANDREW MCKEAN  |  FRIDAY, 7 JUN 2024
The Capgemini Research Institute's World Wealth Report 2024, released today, shows high-net-worth individuals (HNWIs) and their wealth hit unprecedented levels in 2023, driven by a rebound in the global economic outlook. According to the report, global ...

AMP North launches new tool

ANDREW MCKEAN  |  FRIDAY, 7 JUN 2024
... buy/sell costs, and enhance their strategic advice for clients. "Adviser feedback is so critical to the way in which we continue to invest in product enhancements and functionality, which is why we have launched North Interactive, a game-changer in helping ...

NZ Super awards mandate to Northern Trust

ANDREW MCKEAN  |  THURSDAY, 6 JUN 2024
... them better consume, produce, and service their data needs, which is essential to generate the insights they need to continue to perform at a high level," he said. Northern Trust's Data Warehouse Solutions provides complete management of data from various ...

Pollaers to chair AFCA for another three years

JAMIE WILLIAMSON  |  THURSDAY, 6 JUN 2024
John Pollaers will continue as chair of the Australian Financial Complaints Authority (AFCA) for another three years. Pollaers, who has served as the independent chair of AFCA for the past three years, has been reappointed to the position. This second ...

Sequoia chief learns his fate at EGM

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
... contract with the board during which time I will look to groom and mentor a suitable replacement for the business, who will continue to drive our excellent group performance." In May, Crole and Pattison turned to the Takeovers Panel to request intervention ...

Recession signs: Economic growth has 'ground to a halt'

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
While the 0.1% increase in quarterly GDP was in line with experts' expectations, it still paints a dire picture for Australia's economic path. Annual GDP growth has fallen to just 1.1%, the slowest rate of annual growth in GDP in more than three ...

QIC adds to streak of venture capital investments

ANDREW MCKEAN  |  WEDNESDAY, 5 JUN 2024
Queensland Investment Corporation (QIC) has agreed to become a cornerstone investor in early and growth-stage fund Sprint Ventures, while also investing in biotech venture capital firm Brandon Capital. Yesterday, Financial Standard reported that QIC's ...

ETFs dominate client portfolios: Study

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
Exchange-traded funds (ETFs) are dominating client portfolios as nine out of 10 financial advisers continue to recommend them to clients, a new study shows. The 2024 Trends in Investing report reveals that more than 60% of advisers will up clients' ...

Ironbark partners with HarbourVest to launch fund

ELIZA BAVIN  |  TUESDAY, 4 JUN 2024
... by HarbourVest Partners. "We are delighted to form this partnership with such a seasoned private equity manager, as we continue to leverage our expertise building bespoke investment solutions to offer more investors access to institutional grade private ...
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