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Showing 1011 - 1020 of 7099 results for "June 10"

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
Six of the largest financial institutions have paid or offered a total of $3.6 billion in compensation to consumers over fees for no service and non-compliant advice. The new stats come as the Financial Planning Association of Australia calls for an ...

Equity Trustees confirms AET acquisition

CASSANDRA BALDINI  |  MONDAY, 22 AUG 2022
Equity Trustees has announced it will acquire Insignia Financial's Australian Executor Trustees (AET) for $135 million. Following last week's market speculation, a statement said the acquisition will deliver significant growth for EQT, adding ...

Assets under custody take a hit: ACSA

JAMIE WILLIAMSON  |  MONDAY, 22 AUG 2022
Total assets under custody in Australia dropped by more than 8% in the six months to June end, with some custodians seeing declines of more than 10%. The latest data from the Australian Custodial Services Association shows total assets under custody ...

HESTA, Mercy Super to pursue merger

JAMIE WILLIAMSON  |  FRIDAY, 19 AUG 2022
HESTA and Mercy Super announced in June that they were well progressed with potential merger discussions. Now, the two have signed a Successor Fund Transfer deed with the aim of merging by November 30. The merger will see Mercy Super's 13,000 members ...

Norwegian wealth fund records $250bn loss

JAMIE WILLIAMSON  |  THURSDAY, 18 AUG 2022
Norges Bank Investment Management announced the Government Pension Fund Global lost 1.68 trillion Norwegian krone, which is the equivalent of almost $250 billion AUD in the first half of this year, largely driven by equity returns, primarily technology ...

Females, millennials lead the way in SMSFs: Class

CHLOE WALKER  |  WEDNESDAY, 17 AUG 2022
According to Class's 2022 Annual Benchmark Report, female SMSF balances are rising faster than males and most new SMSFs are being established by millennials. Over the past three years, millennials have become the largest cohort of all the age groups ...

ASIC response to Freedom Insurance saga continues

JAMIE WILLIAMSON  |  WEDNESDAY, 17 AUG 2022
ASIC has so far secured more than $102 million in remediation for Freedom Insurance customers and is urging anyone else who purchased life cover through the now-defunct insurer to come forward. Freedom Insurance went out of business after ASIC's review ...

Magellan reports NPAT, FUM slide

CASSANDRA BALDINI  |  WEDNESDAY, 17 AUG 2022
Magellan has reported a drop in its adjusted net profit after tax and declared a significantly lower dividend. Magellan has reported a 3% drop in its adjusted NPAT to $399.7 million. Last year it was $412.4 million. Its average funds under management ...

Lutheran Super merger imminent

JAMIE WILLIAMSON  |  TUESDAY, 16 AUG 2022
After significant delays, Lutheran Super is expected to confirm its merger partner later this month. In January, Lutheran Super said it had identified a preferred merger partner, having reviewed a shortlist of three funds. At the time, the fund anticipated ...

Challenger appoints Duncan West as chair

CASSANDRA BALDINI  |  TUESDAY, 16 AUG 2022
Challenger named Duncan West its new chair, replacing Peter Polson who will retire after October's annual meeting. West has served on the Challenger board as an independent non-executive director since 2018. He has over 30 years of board and financial ...