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Macquarie posts $3bn profit, makes hireBY ANNABELLE DICKSON | FRIDAY, 7 MAY 2021 12:18PM
Macquarie Group recorded a 106% increase in statutory profit to $3 billion from the first half of the year in its full-year results and named the chief executive of Macquarie Asia.Read more: MAM, CGM, Macquarie Group, Macquarie Asia Infrastructure Fund, Macquarie Asset Management, Macquarie Capital, Macquarie Investment Management, Shemara Wikramanayake, Verena Lim
In a year the average fund posted over 18% in returns, CommBank's Essential Super was the top one-year performer.
Superannuation funds can expect their results in the first performance test by August 31 under the new Your Future, Your Super reforms, according to an APRA letter sent Friday.
The Federal Court found that RI Advice Group's failure to provide rigorous oversight over a former financial adviser resulted in bad advice to consumer detriment.
Member of Parliament Tim Wilson will lead the charge to determine if big super's domination over the Australian sharemarket is stifling competition.
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