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Editor's Choice

Australian Retirement Trust people chief to depart

ELIZABETH FRY
Australian Retirement Trust has confirmed the departure of chief people officer Helen Jackson, who will leave at the end of the financial year.

SSGA loses $2.4bn in two months

KARREN VERGARA
State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products.

AFCA seeks industry feedback on approaches

ELIZA BAVIN
The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.

Apex, ACA partner to broaden client services

ANDREW MCKEAN
Apex Group and ACA Group have formed a partnership to offer their clients a wider range of services.

Advisers call for apology from Super Members Council

JAMIE WILLIAMSON   The Financial Advice Association Australia and its members say the super lobby group should formally apologise for its recent remarks about "dodgy financial advisers."

Fiducian welcomes two practices

KARREN VERGARA   Fiducian Financial Services has added two practices based in Victoria and the Northern Territory to its network.

SSGA loses $2.4bn in two months

KARREN VERGARA   State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products.

BlackRock launches new government bond ETF

ELIZA BAVIN   The 15+ year Australian government bond is part of BlackRock's commitment to expand its iShares product suite.

MIESF adjusts insurance premiums

ANDREW MCKEAN   Meat Industry Employees' Superannuation Fund (MIESF) will increase total and permanent disability (TPD) insurance premiums by 5.4%, effective July 1.

ClearView closes ClearChoice Super Rollover, launches trauma options

KARREN VERGARA   ClearView has made changes to its ClearChoice product series, including the launch of trauma options, and is closing its ClearChoice Super Rollover product.

SMSFs' use of advisers plummets: Research

ANDREW MCKEAN   The number of self-managed super funds (SMSFs) using advisers has reached a new low, with the proportion of SMSFs using advisers falling to 23% from 27% in the past 12 months, according to a Vanguard/Investment Trends report.

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA   The proposed 30% tax on large superannuation balances must clarify the confusion surrounding legacy pensions and reserves, and how they should be calculated, according to the SMSF Association (SMSFA).

What's keeping the Treasurer up at night?

ANDREW MCKEAN   Treasurer Jim Chalmers said at the Morgan Stanley Australia Summit in Sydney yesterday that a key goal of the Budget was to fight inflation in a way that doesn't damage an already weak economy.

US looks towards rate cuts, Australia lags behind

ELIZA BAVIN   US Reserve chair Jerome Powell pivots and then pivots again, indicating the US central bank could cut interest rates once this year.

APRA updates industry on operational resilience guidance

ELIZA BAVIN   CPS 230 will come into effect from 1 July 2025.

AFCA seeks industry feedback on approaches

ELIZA BAVIN   The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.

Nuveen chief executive exits amid leadership shakeup

ANDREW MCKEAN   Nuveen chief executive Jose Minaya has exited the US$1.2 trillion asset management firm, but his successor has already been appointed.

Morningstar hires fixed income lead from PATRIZIA

ELIZABETH FRY   Morningstar has hired a new executive to replace Tim Wong who departed for Genium Investment Partners in April.

Performance test covers managed accounts, SMAs: APRA

KARREN VERGARA   The prudential regulator is reminding trustees that managed accounts and separately managed accounts (SMAs) are high on its radar when administering the performance test.

AustralianSuper bears brunt of complaints: AFCA

KARREN VERGARA   AustralianSuper copped the highest number of complaints in the last six months of 2023 totalling 936, which was nearly three times more than other major super funds like Cbus, Australian Retirement Trust (ART), and Aware Super.

Technology

Apex, ACA partner to broaden client services

ANDREW MCKEAN   Apex Group and ACA Group have formed a partnership to offer their clients a wider range of services.

ASX advances CHESS replacement project

ANDREW MCKEAN   The ASX announced today that the CHESS replacement project has entered the delivery phase.

HNWIs wealth reaches unprecedented levels

ANDREW MCKEAN   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.

Geopolitical risks push APAC family office allocations locally

KARREN VERGARA   Geopolitical risks are dictating how family offices in the Asia Pacific invest as more intend to shift asset allocations to their home regions, according to UBS.