Westpac to raise capital by divesting BTIM stakeBY LAURA MILLAN | TUESDAY, 16 JUN 2015 10:40AM
Westpac Group will sell half of its stake in BT Investment Management (BTIM) to institutional and retail investors in a move that will raise up to $700 million and bolster its capital position.Read more: BTIM, Investment, Westpac Group, BT Investment Management, Brad Cooper, BT Financial Group, BTIM shareholders, BTIM shares, July 10, July 16, June 16, June 17, June 18, June 22, Peter King
Australia's superannuation sector is fighting a war on three different fronts, as the economic fallout of COVID-19 continues to bite.
Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%.
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.
|Brought to you by|
|Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.|