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Advisers wary of ethical funds, launch own rating systemBY ELIZABETH MCARTHUR | WEDNESDAY, 5 JUN 2019 10:05AM
A co-op of financial advisers believes superannuation funds are performing poorly when it comes to providing ethical and sustainable investment options, as reflected in a newly launched rating system.
Read more: NAB, Australian Ethical, BetaShares, Pengana, WHEB, Future Super, Rockwell Automatic, Terry Pinnell
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Pendal Group has made year-long fee cuts on two funds, as it sees the Reserve Bank of Australia holding the cash rate at the record-low of 0.25%.
Standard & Poor's has downgraded AMP Limited's credit rating from BBB+ to BBB, with all AMP Group entities on CreditWatch with negative implications.
ME Bank chief executive Jamie McPhee has resigned after weathering scrutiny over the bank's adjusting of redraw facilities for mortgage customers and its relationship with the industry funds that own it.
At a time when many Australians are engaging directly with their superannuation fund for the first time, member satisfaction appears mixed, with two separate surveys producing some opposing views.
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