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Editor's Choice

AIMCo, New Agriculture buy Kimberley Cattle Portfolio

CASSANDRA BALDINI
Alberta Investment Management Corporation (AIMCo) and New Agriculture are set to jointly acquire the Kimberley Cattle Portfolio for an undisclosed sum.

Aussie fintech growth counteracted by local challenges: EY

CASSANDRA BALDINI
Australia's fintech sector is showing signs of growth; however, it's still being held back by constrained local capital, complex regulatory challenges, and investor appetite for offshore opportunities.

ASIC confirms adviser registration deadline

KARREN VERGARA
After receiving Royal Assent on November 27, ASIC is urging all financial advisers who service retail clients to register before the 1 February 2024 final deadline.

AMP selects new chief technology officer

CHLOE WALKER
Kavita Mistry will become AMP's new chief technology officer, joining the executive committee.

Financial Planning

ASIC confirms adviser registration deadline

KARREN VERGARA   After receiving Royal Assent on November 27, ASIC is urging all financial advisers who service retail clients to register before the 1 February 2024 final deadline.

Young women report low financial literacy: NAB

CASSANDRA BALDINI   Young Australian women are reporting lower financial literacy levels and are at greater risk of financial hardship, according to new NAB research.

AIMCo, New Agriculture buy Kimberley Cattle Portfolio

CASSANDRA BALDINI   Alberta Investment Management Corporation (AIMCo) and New Agriculture are set to jointly acquire the Kimberley Cattle Portfolio for an undisclosed sum.

Spatium Capital selects trustee, administrator for small caps fund

CASSANDRA BALDINI   Melbourne-based Spatium Capital has named True Oak as its trustee and the ASCENT Group as the administrator of its small companies fund.

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON   Treasury is calling for feedback on the use of genetic testing in life insurance underwriting, citing concerns the existing moratorium is ineffective, negatively impacting medical research efforts, and a lack of compliance from insurers.

Insurers drop allocation to risk assets: Research

CASSANDRA BALDINI   Over 80% of insurers are adopting a cautious investment approach, signalling their intent to decrease exposure to risk in the coming six months.

Pepper Money launches SMSF loan offering

CASSANDRA BALDINI   Pepper Money has introduced a new offering, providing loans to self-managed superannuation funds (SMSFs) to purchase or refinance residential and commercial properties.

Super tax change to impact SMSF members: Research

CASSANDRA BALDINI   The government's proposed tax on superannuation balances exceeding $3 million could adversely impact up to 50,000 self-managed super fund members (SMSF), including posing liquidity challenges.

New bill to strip treasurer of RBA monetary policy veto powers

ANDREW MCKEAN   The government will introduce a bill to parliament this week that proposes abolishing the treasurer's power to override the Reserve Bank of Australia's (RBA's) monetary policy decisions.

Inflation problem is homegrown: Bullock

KARREN VERGARA   Reserve Bank of Australia (RBA) governor Michele Bullock warned that Australians' spending habits - particularly in the services sector - are now fuelling inflation.

On-platform TDPs miss performance test benchmarks, worst on fees: APRA

ANDREW MCKEAN   APRA has released new insights into superannuation product performance, revealing that most on-platform trustee directed products (TDPs) underperform their benchmark and exhibit higher administration fees.

BBY manager charged with aiding and abetting

KARREN VERGARA   ASIC charged another former employee of BBY with aiding and abetting the dishonest conduct of the stockbroking firm.

AMP selects new chief technology officer

CHLOE WALKER   Kavita Mistry will become AMP's new chief technology officer, joining the executive committee.

British banker to become RBA deputy governor

CHLOE WALKER   The Reserve Bank of Australia (RBA) has selected Bank of England (BoE) executive Andrew Hauser as its new deputy governor and as a member of the Reserve Bank board.

Future Group acquires Verve Super

JAMIE WILLIAMSON   Just a month on from taking on GuildSuper, Future Group has now acquired 100% of women-focused fund Verve Super.

Commonwealth Super Corp selects Challenger for retirement products

CHLOE WALKER   Commonwealth Superannuation Corporation (CSC) has joined forces with Challenger to launch the next stage of its retirement income strategy in early 2024.

Technology

Aussie fintech growth counteracted by local challenges: EY

CASSANDRA BALDINI   Australia's fintech sector is showing signs of growth; however, it's still being held back by constrained local capital, complex regulatory challenges, and investor appetite for offshore opportunities.

ASX calls time on mFund settlement service

ANDREW MCKEAN   Following an assessment and feedback from a recent consultation, the ASX has opted to wind down the mFund settlement service, setting a tentative deadline of May 2026 for the removal of funds.

Buffett outlines plans for Berkshire Hathaway

CHLOE WALKER   Warren Buffett has laid out plans for Berkshire Hathaway (Berkshire) and his fortune in a rare letter published on the company's website.

Conscious Investment Management fund receives $50m

RACHEL ALEMBAKIS   Conscious Investment Management has received more than $50 million in commitments for its second Social Housing Fund (CIMSHF2) as it reaches its first close.