Editor's Choice
NovaPort Capital team calls it a day
|The team at small caps manager NovaPort Capital have decided to hang up their boots.
Industry fund merger postponed
|Mine Super and TWUSUPER have reported "significant progress" towards their merger, but it has been pushed back.
Fidelity shutters, delists funds
|Fidelity International is terminating an international fixed interest strategy that failed to scale, as well as delisting a managed fund.
Super funds to solve the housing crisis?
|Association of Superannuation Funds of Australia (ASFA) chief executive Mary Delahunty said at the Australian Shareholders' Association Conference yesterday that addressing the supply side of the housing crisis requires an infusion of private capital.
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Matt Gaden
HEAD OF AUSTRALIA
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
Helping investors traverse financial markets and build their wealth during the peaks and troughs is Janus Henderson Investors head of Australia Matt Gaden's game plan. He tells Karren Vergara why in this long game of investing, active management wins.
Whiteley and his cohorts do not actually run a financial planning practice and don't even talk to clients directly. They are therefore totally unqualified to pass judgement on regulations which affect real Professional Financial Planners.
What this so called legal advice does not mention is that the proposed seventh part of Best Interest is open for testing in the courts due to its ambiguities and therefore firms such as Arnold Bloch Liebler have a vested interest in keeping this in the regulations to generate future business for themselves.
How is it that a member of the Liberal Party (one with no experience in the Fin Services Industry) is defending the 40 or so Industry Funds which were presumably set up to provide income streams for Unionists and ex Labor politicians in their roles as Fund Trustees/Directors, etc., and for the political purpose of using members funds for running down the high quality advisory industry in Australia, influencing share holders meetings, and influencing Funds Managers (those who accept Industry Funds money). Presumably the Hon Peter Collins is being paid very big bucks as chairman of ISA!
FOFA in turn was set up to continue the onslaught against the advisory industry, arguably the very best in the World and one which does infinitely more than simply hard sell an inferior investment product such as Industry Funds. Ignore this noise, Senator Sinodinos and get on with your job.
Also make sure that the proposed Royal commission closely examines any possible corruption in Industry Funds. Separately APRA should be checking to see whether Industry Funds meet the sole purpose test.