Financial Standard

FAAA slams 'underlying issues' in CSLR

ELIZA BAVIN  |    11:08AM   The FAAA has made a submission to the Senate Economics Committee calling out underlying issues brought to the fore by the establishment of the CSLR.

Engage Financial launches practice management firm

ELIZA BAVIN   Engage Financial has launched a new partner firm led by the former chief executive of Profile Financial Services.

Ares launches private markets fund

ANDREW MCKEAN  |    12:06PM   Ares Management has launched a Private Market Fund (AUT), a locally domiciled unit trust to provide Australian wholesale clients access to Ares Private Markets Fund (AMPF) - as US registered management investment vehicle that's distributed through Ares' Wealth Management Solutions (AWMS) platform.

Venture capital exits expected to grow in 2025: Preqin

ELIZA BAVIN  |    11:10AM   The venture capital market is expected to see even more exits in 2025 after the sector was impacted by higher interest rates throughout 2024.

Colonial First State completes group insurance review

JAMIE WILLIAMSON  |    12:19PM   Following a review of its group insurance arrangements, Colonial First State (CFS) has renewed its mandate with AIA.

MLC Life and Resolution Life Australasia to merge

ELIZA BAVIN   The merger, which also includes a rebrand, is set to create one of the largest life insurance businesses in Australia.

SMSFs surpass $1tn milestone

MATTHEW WAI   The latest statistics from the Australian Taxation Office (ATO) show the total assets held within self-managed superannuation funds (SMSFs) hit $1.02 trillion at September end.

Growth of SMSFs, Div 296 opportunity for advisers

MATTHEW WAI   A new report published by the SMSF software provider has revealed growing opportunity for financial advisers and demonstrates the potentially detrimental effect of the proposed Division 296 tax.

Unemployment drops below 4%

ELIZA BAVIN  |    12:04PM   The unemployment rate has fallen below 4%, according to the newest data from the Australian Bureau of Statistics.

RBA 'paves way' for February rate cut

ELIZA BAVIN   After a year of defiantly leaving interest rates on hold, the RBA has given the first glimmer of hope a rate cut may come in the first half of 2025.

AFCA completes independent review of operations

ELIZA BAVIN   AFCA said the review had redefined its approach to external dispute resolution.

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON   Licensees are generally slow to report to ASIC because of deficient internal processes and poor monitoring of compliance with the reportable situations regime, a review found.

NRL legend joins private wealth firm

ANDREW MCKEAN  |    12:02PM   Ex-National Rugby League (NRL) player Cooper Cronk has joined Viola Private Wealth as an ambassador.

Con Michalakis jumps to Funds SA

ELIZABETH FRY  |    11:54AM   The high-profile Hostplus executive has landed the top investment job at the $46 billion public sector investment manager.

Active Super transfers members to Challenger

JAMIE WILLIAMSON   Challenger will take over Active Super's Guaranteed Income offering after it was determined transferring these member accounts to Vision Super would not be in their best interests.

Funds are 'getting back to basics', says report

ANDREW MCKEAN   Global public pension funds and sovereign funds are refocusing on generating long-term returns, generally targeting opportunities in private markets, emerging markets, and green assets, according to the Official Monetary and Financial Institutions Forum (OMFIF) Global Public Funds 2024 report.

First Sentier expands mandate with Northern Trust

MATTHEW WAI  |    11:13AM   Northern Trust will offer a range of front-to-back solutions as third-party administrator for First Sentier Investors under an extended agreement.

Praemium partners to bring structured products to HNWIs

MATTHEW WAI   Praemium inked a deal with Stropro, an alternative investment platform, to offer financial advisers improved access to structured products to better meet the evolving needs of their high-net-worth (HNW) clients.

Family office investment lead joins TCorp

ELIZABETH FRY   One of Australia's oldest family offices is farewelling its head of investment who plans to join TCorp in the new year.

Perpetual reveals decade of philanthropy insights

ANDREW MCKEAN   Perpetual, for the first time, has laid bare a decade's worth of data, unveiling insights into the philanthropic and charity sectors.