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Parametric wins $60m global equities mandate

ALEX BURKE  |  TUESDAY, 29 MAY 2018
Parametric won a $60 million mandate for its tax-managed indexing (TMI) strategy from an $8.5 billion super fund. Australian Catholic Superannuation and Retirement Fund (ACSRF) previously awarded Parametric an after-tax passive global equities mandate ...

Chief economist update: Should have sold in May and gone away

BENJAMIN ONG  |  TUESDAY, 29 MAY 2018
... (January) - by May 14 it had almost prompted me to declare that 2018 is one of the years that the "sell in May" adage didn't apply. Apart from the uptrend generating its own upwards momentum, Australian domestic fundamentals, while not strong, are ...

Government consults on super access for victims of crime

JAMIE WILLIAMSON  |  MONDAY, 28 MAY 2018
... serious, violent crimes to be able to access a perpetrator's superannuation for the purpose of compensation. This would apply in the event that other assets have been exhausted and would be subject to appropriate limits and thresholds. "For too long ...

Amnesty granted to employers with unpaid SG

KANIKA SOOD  |  THURSDAY, 24 MAY 2018
... and supporting the integrity of superannuation tax system. The Bill will allow employees working for multiple employers to apply to the ATO for an exemption certificate for some of their employers, so that they don't breach the concessional cap on ...

Netwealth affirms value of financial literacy

HARRISON WORLEY  |  WEDNESDAY, 23 MAY 2018
Netwealth sponsored financial literacy program Banqer has partnered with 150 schools to deliver financial education to Australian children. Just over a year since the partnership between the platform provider and Banqer began, the program has reached ...

AMP hit with another proposed class action

JAMIE WILLIAMSON  |  TUESDAY, 15 MAY 2018
... attempting to attract as many AMP shareholders as possible by way of a "market disrupting" commission of 12.5% that will only apply in the event of a win. To facilitate this, Maurice Blackburn has partnered with International Litigation Funding Partners ...

Advice fintech shutters Sydney office

ALEX BURKE  |  TUESDAY, 15 MAY 2018
... clients." Earlier in May, Intiger announced it was now producing statements of advice for CBA pilot programs, which will apply to Commonwealth Financial Planning, Financial Wisdom and Count. Intiger explained it was working closely with CBA program management ...

CBA cops $25 million for BBSW rigging

KANIKA SOOD  |  WEDNESDAY, 9 MAY 2018
... Under the EU an independent expert will review policies, training and monitoring for its BBSW business. CBA and ASIC will apply to the Federal Court, seeking approval of the settlement. This adds to the $118.5 million in refunds, including interest ...

Govt reforms can tackle super gender gap: ASFA

KARREN VERGARA  |  FRIDAY, 4 MAY 2018
In the lead up to this year's Federal budget, the Association of Superannuation Funds of Australia is calling on the Government to take action on a worrying statistic that 80% of women won't have enough money upon retirement. ASFA is using its new white ...

ASIC tightens grip on ICO issuers

KANIKA SOOD  |  WEDNESDAY, 2 MAY 2018
... selling something to someone, you have obligations. Regardless of the structure of the ICO, there is one law that will always apply: you cannot make misleading or deceptive statements about the product. This is going to be a key focus for us as this ...