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UniSuper enterprise risk lead departs

ELIZABETH FRY  |  MONDAY, 19 AUG 2024
UniSuper's head of enterprise risk has lost his job, following a restructuring of the risk function. Dennis Gentilin is a risk and governance professional with over 20 years experience in the banking, finance, consulting and superannuation industries. ...

Financial Standard opens Power50 voting

STAFF WRITER  |  MONDAY, 19 AUG 2024
Voting is now open for the 2024 Financial Standard Power50, which recognises the most influential financial advisers in Australia. Financial Standard has shortlisted 114 financial advisers who have progressed to the voting stage after receiving more ...

Local private debt funds' growth potential 'remains strong': Preqin

ANDREW MCKEAN  |  THURSDAY, 15 AUG 2024
Although fundraising for APAC private debt funds has faced challenges in recent years, Preqin says the market is "ripe with opportunities." Fund managers that overcome challenges related to investor perception and risk management can succeed in the ...

What does the RBNZ rate cut mean to Australia?

MATTHEW WAI  |  THURSDAY, 15 AUG 2024
On Wednesday, the Reserve Bank of New Zealand (RBNZ) trimmed its interest rate by 25 basis points to 5.25% after holding a decades-high rate of 5.50% since May 2023. The central bank pointed to inflation converging to its target range as the core reason ...

Cost cutting returns Bravura to profit

KARREN VERGARA  |  WEDNESDAY, 14 AUG 2024
Bravura Solutions returned to profit in the 2024 financial year following a "difficult year" but flags it is not done with its cost-cutting strategies. The ASX-listed firm's total revenue was stable at $250.4 million but managed to haul itself out of ...

APRA reprimands Cbus, BUSSQ over governance issues

ANDREW MCKEAN  |  WEDNESDAY, 14 AUG 2024
... management of Cbus' trustee. "The Coalition has been calling for regulators to take strong action to ensure Cbus' close connections to its union, the CFMEU, are not undermining its compliance with governance obligations, including the best financial ...

Custody assets exceed $5tn milestone

JAMIE WILLIAMSON  |  TUESDAY, 13 AUG 2024
... was seen at Apex Group, jumping 25.6% to $37.06 billion. This was followed by Artega, whose assets under custody grew by close to 25% to total $2.08 billion. But there were also declines, with BNY Mellon seeing its assets under custody drop by more than ...

Janus Henderson to buy private credit manager Victory Park Capital

ANDREW MCKEAN  |  TUESDAY, 13 AUG 2024
... acquisition will be funded through a combination of cash and Janus Henderson common stock. The transaction is anticipated to close in the fourth quarter of 2024, pending regulatory approvals and is expected to have a neutral to positive impact on earnings ...

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
... the National Credit Act. ASIC said it seeks feedback on said instruments and whether amendments are needed. Submissions close on September 4.

UK pension giant eyes Australian timber

JAMIE WILLIAMSON  |  FRIDAY, 9 AUG 2024
Nest is establishing an evergreen timberland fund and has its sights set on opportunities in Australia. The $70 billion workplace pension fund has enlisted Campbell Global, J.P. Morgan Asset Management's timberland investment advisory company, to develop ...