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Showing 1081 - 1090 of 6935 results for "% December"

US, UK hike interest rates

ELIZABETH MCARTHUR  |  FRIDAY, 18 MAR 2022
The US Federal Reserve and the Bank of England have increased interest rates - with the US pulling the trigger on rates for the first time since 2018. Effective from March 17, the US Federal Reserve increased interest rates by 0.25% to 0.40%. The US ...

Milford chair to retire

CHLOE WALKER  |  FRIDAY, 18 MAR 2022
Milford Asset Management board chair Mark Cross will retire from the board at the end of June, with a new chair appointed. In announcing his retirement from Milford, Cross said: "It has been a privilege to be part of Milford for nearly a decade, and ...

Active funds continue underperformance

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 MAR 2022
S&P Dow Jones Indices SPIVA Australia Scorecard has revealed just over half of Australian equities funds beat their benchmarks last year, with active funds underperforming. Last year, just over half of Australian funds in the Equity General and Equity ...

Vanguard hit with US class action

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 MAR 2022
Law firm Dovel & Luner filed a class action lawsuit against Vanguard trustees and on behalf of investors in Vanguard's Target Retirement Funds, based in the US. The suit alleges that Vanguard's mismanagement of these funds led to "enormous tax bills ...

FPA is the preferred association: Research

KARREN VERGARA  |  WEDNESDAY, 16 MAR 2022
The Financial Planning Association holds the lion's share of membership as nearly 40% of advisers report they are part of the professional body. Some 38% or 7239 active advisers on ASIC's Financial Adviser Register are members of the FPA based on the ...

Startup launches risk retention option

KARREN VERGARA  |  TUESDAY, 15 MAR 2022
A life insurance startup is launching an alternative option that targets customers who want to cancel their policy. iExtend partners with policyholders by paying the premiums of the co-owned cover. Policyholders are able to maintain their cover and ...

Managed accounts FUM at $131bn

CHLOE WALKER  |  TUESDAY, 15 MAR 2022
Strong inflows and solid market performance underpinned significant growth in the managed accounts sector, according to the latest data released by Institute of Managed Account Professionals (IMAP) and Milliman. As at 31 December 2021, funds under management ...

Magellan loses $5bn in fortnight

KARREN VERGARA  |  MONDAY, 14 MAR 2022
Magellan Financial Group reported another massive outflow in which $5 billion left the ASX-listed fund manager in two weeks. This brings total funds under management to $69.1 billion as at March 11. Some $4.7 billion of the most recent outflows came ...

Mixed reviews for advice industry reviewer

KARREN VERGARA  |  MONDAY, 14 MAR 2022
Lawyer Michelle Levy's appointment in overseeing the Quality of Advice Review has received a mixed reception from the financial advice industry. The Association of Independently Owned Financial Professionals executive director Peter Johnston called ...

Legal expert to lead QAR

KARREN VERGARA  |  FRIDAY, 11 MAR 2022
A legal expert will take the reins in leading the Quality of Advice Review, Senator Jane Hume announced this afternoon, adding that the terms of reference have also been finalised. Allens partner Michelle Levy, a specialist in financial services, life ...