Tower Australia closes annuities portfolio to new business

Superannuation fund members are becoming more purposeful in their interactions with funds, while trust has emerged as the clearest driver of loyalty and advocacy, according to new CoreData research.

Macquarie Asset Management (MAM) has agreed to acquire a majority stake in structural integrity engineering firm SI Solutions from private equity firm MidOcean Partners, alongside co-investors that include UniSuper.

GQG Partners' continued slump in performance continues as net outflows for funds under management (FUM) stood at US$4.3 billion in August alone, and worse, the firm has been bumped out of the ASX200 index.

The Administrative Review Tribunal has affirmed ASIC's decisions to ban two former financial advisers from InterPrac Financial Planning and Financial Services Group Australia (FSGA) who were involved in the Shield and First Guardian master funds for five years.