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Vale Jason Milosevski

JAMIE WILLIAMSON  |  TUESDAY, 6 FEB 2024
... this time, and that trauma and life cover would thereafter, Pillemer said. Pillemer described Milosevski as the "gold standard" who enriched the lives of all he met. "Jase fought like a tiger for over a year to overcome pancreatic cancer. He even returned ...

Actively managed, ESG funds top 2023 outflows

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
Actively managed funds and ESG strategies suffered the biggest outflows in 2023 at a combined $57.7 billion. According to Calastone's Global fund flows report, actively managed strategies lost $42 billion (US$27.2bn), eclipsed by passive equity ...

Super funds lack data for effective retirement assistance: Study

ANDREW MCKEAN  |  MONDAY, 5 FEB 2024
... option for retirees to have a guaranteed income stream, Challenger chief executive, customer Mandy Mannix told Financial Standard. "We need to align with the legislated purpose of superannuation and ensure that Australians are properly informed about ...

SMSFA prepares delegates for major super tax reform

KARREN VERGARA  |  MONDAY, 5 FEB 2024
... 15% tax rate on super balances above $3 million to 30%. SMSF Association head of technical Mary Simmons told Financial Standard that this will become an inevitable reality when it takes effect on 1 July 2025. "This topic is an underlying theme throughout ...

MetLife Australia hires chief operating officer

JAMIE WILLIAMSON  |  FRIDAY, 2 FEB 2024
... transition being acting general manager, life product and distribution. A spokesperson for MetLife Australia told Financial Standard : "Olivia will focus on the continuous transformation of our operational processes to ensure we stay at pace with a digital ...

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
ASIC deputy chair Sarah Court has reaffirmed that the corporate regulator is targeting member service failures, greenwashing, and inappropriate fees and charges, cautioning the superannuation industry to lift its game. At an industry event, Court said ...

Super funds defend controversial weapons holdings

KARREN VERGARA  |  FRIDAY, 2 FEB 2024
... divest Elbit. It has garnered 736 out of 800 signatures. A letter sent by HESTA to a concerned member seen by Financial Standard states that the fund "monitors and assesses geopolitical events, risks and their potential impacts on our portfolio." HESTA ...

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... billion super fund with additional licence conditions following a cyber-attack in March 2023, first reported by Financial Standard. APRA said a significant amount of data was lost and "significant deficiencies" were identified in the fund's compliance ...

AI mania will underwhelm advice: Finura

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2024
... - even with systems they've been using for years. Finura Group joint managing director Peter Worn told Financial Standard that while AI holds considerable promise, it comes down to advisers changing their behaviours around it. Many advice businesses ...

Treasury promises flexibility to adviser qualifications

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2024
Financial advisers are promised "greater flexibility" in gaining educational and training qualifications under new amendments proposed by Treasury. Yesterday, assistant treasurer Stephen Jones launched a consultation to update how advisers can demonstrate ...