IOOF profits fall 39%, advice margins dropBY KANIKA SOOD | TUESDAY, 18 FEB 2020 12:29PM
IOOF's underlying net profit after tax slumped 39% in the first half of FY20 to $56.6 million, following increased governance spending, pricing pressures and divestments.Read more: Ord Minnett, Perennial Value Management, Shadforth
APRA has asked superannuation funds to submit their in-house modelling on the magnitude of impact they are expecting from the Federal Government's special allowance for early release from superannuation.
Zenith Investment Partners wants to reverse out of its planned $12 million purchase of Chant West's superannuation business, saying the latter has been materially affected since February, but Chant West is digging its heels in.
The $10 billion industry superannuation fund has issued a notice to members detailing changes to investment fees, admin fees, insurance premiums and investment objectives.
New research has revealed the 22 ASX 300 companies - many of which super funds have exposure to - that are polluters and haven't performed well this year.
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