Hastings loses $2.1bn fund mandate

ASIC has scored a whopping $830 million in civil penalty orders in the last financial year alone, a Freedom of Information (FOI) request revealed.

Viridian Financial Group's Infinity Asset Management won a mandate to oversee a small to mid-capitalisation fund that was previously under the remit of Renaissance Asset Management.

A pair of Remara directors, along with an iPartners private credit specialist, have joined forces to launch a new alternative investment firm, targeting an underserved segment across the private credit market.

An innovative financial product, known as perpetual futures contract (perps), are currently under the scope of the market regulator, spreading concerns that the "speculative" product may be unlawfully distributed towards retail investors.