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Industry funds pool $61bn of assetsBY KARREN VERGARA | THURSDAY, 11 FEB 2021 12:32PM
Two industry superannuation funds will pool their assets to create a $61 billion trust, in a move that is set to be a better alternative to a merger.
Read more: Maritime Super, Catholic Super, Club Super, David Elia, Equipsuper, Financial Standard, Hostplus Pooled Superannuation Trust, JANA, Peter Robertson, TWU Super
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The Association of Financial Advisers has appointed a new chief executive to replace Phil Kewin who resigned earlier this year.
The Federal Court will force BT Funds Management and Asgard Capital Management to pay $1.5 million each for charging fees for no service and making misleading statements.
Among the changes announced this morning, AMP is putting an end to all Buyer of Last Resort arrangements at the end of the year and giving advisers the freedom to leave the network with their clients from 2022.
Weekly review of significant economic data, government and central bank action and pronouncements, and other market moving events.
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