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Editor's Choice

Australia an 'efficient' market for multinationals

MATTHEW WAI
A new report by Mercator by Citco (Mercator) has revealed that while multinational organisations face significantly higher operations demands in Asia-Pacific (APAC), Australia has proven to be one of the most efficient markets.

Brighter Super default members earn 11% in FY25

KARREN VERGARA
Brighter Super's MySuper option achieved 10.9% p.a. for the 2025 financial year, exceeding performance for the medium and long term.

SIAA chief executive steps down

ELIZA BAVIN
Stockbrokers and Investment Advisers Association chief executive Judith Fox will step down after six years in the role.

GQG assets hit record high despite underperformance

KARREN VERGARA
GQG Partners' assets jumped $4 billion to reach a record high of US$172.4 billion for the 2025 financial year despite experiencing "short-term relative underperformance".

Financial Planning

ASIC bans advisers for dodgy Shield Master Fund advice

KARREN VERGARA   Two former MWL Financial Services financial advisers who invested clients' superannuation in the Shield Master Fund have copped bans from the regulator.

Findex partners with brokerage firm to deliver 'best-in-class' service

MATTHEW WAI   Findex is entering a joint venture with Ortus Financial to bolster its expertise and breadth of its service.

Investment

Praemium scores mandate, sees FUA rise $6bn

ELIZA BAVIN   Praemium has been awarded a new administration mandate which it said would boost its funds under management by $6 billion.

Platinum, L1 merger to help fight 'organic business decline'

ELIZA BAVIN   New analysis from Morningstar says Platinum's prospective merger with L1 may help "arrest" the business' organic business decline.

Insurance

Mental illness payouts balloon over $2.2bn: CALI

MATTHEW WAI   More Australians are leaving work permanently due to mental ill health than ever before with insurers paying out over $2.2 billion in mental health claims last year, according to new data from the Council of Australian Life Insurers (CALI).

AMP actions impacted 'hundreds of thousands' of customers: Shine

ELIZA BAVIN   Shine Lawyers, who filed a class action against AMP this week, said hundreds of thousands of customers have been impacted.

SMSF

SMSFs' risk appetite to change under Division 296: Wilson

MATTHEW WAI   The controversial superannuation tax will likely see an exodus of SMSF capital from emerging companies as they look to avoid growth companies, a discussion paper says.

New SMSF trustees drive financial advice uptake

ANDREW MCKEAN   Trustees of newly established self-managed super funds (SMSFs) are behind a surge in the uptake of financial advice, according to a Vanguard/Investment Trends SMSF report.

Economics

Chalmers unveils reforms to enhance RBA transparency

ELIZA BAVIN   Chalmers has announced reforms aimed at strengthening the transparency and independence of the RBA, in the wake of the central bank's surprise interest rate decision.

RBA delivers 'confounding' rates decision

ELIZA BAVIN   The Reserve Bank of Australia (RBA) kept interest rates on hold at the July meeting.

Regulatory

Funeral insurer fined $4.75m

MATTHEW WAI   ACBF Funeral Plans has been ordered by the Federal Court to pay an additional $3.5 million penalty for misrepresenting that it was Aboriginal owned or managed when it was not.

James Mawhinney contravened law: Federal Court

KARREN VERGARA   In a win for ASIC, Mayfair 101 Group director James Mawhinney has been associated with or involved in contraventions of the law by his companies, the Federal Court determined.

Executive Appointments

BNP Paribas names two new global heads

ELIZA BAVIN   Following BNP Paribas' acquisition of AXA Investment Managers, the group has named two new global heads for the combined alternatives business.

Ascalon continues to build its team

ELIZABETH FRY   Ascalon Capital has appointed a head of business development and business solutions lead, hiring from Zenith and Lonsec respectively.

Superannuation

UniSuper delivers 10.3% to members

ELIZA BAVIN   UniSuper's balanced option has seen members get double-digit returns for the year to June 30.

TelstraSuper Balanced option makes 9.3%

KARREN VERGARA   TelstraSuper's Balanced option reported 9.3% p.a. for the last financial year, lagging the median of 10.1% p.a.

Technology

AustralianSuper readies tech stack for Payday Super

JAMIE WILLIAMSON   Following a successful pilot program with Rest, Wrkr and MUFG Retirement Solutions will now work on a Payday Super solution for AustralianSuper.

Microsoft flips AI switch on for MUFG

MATTHEW WAI   MUFG Pension and Market Services (MPMS) has collaborated with Microsoft to adopt AI-powered solutions across its MUFG Retirement Solutions and MUFG Corporate Markets business divisions.

Family Office

Geopolitical risks force family offices into alternatives, cash: Survey

KARREN VERGARA   Geopolitical uncertainties are forcing family offices out of US equities, diversifying into cash and liquid alternatives, according to BlackRock's annual Global Family Office Survey.

Labor proposes changes to ancillary funds

KARREN VERGARA   Labor is proposing several reforms to giving or ancillary funds that include increasing the annual distribution rate and smoothing out minimal distributions over three years.