Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 91 - 100 of 544 results for "Term deposit"

Industry fund ups admin fees

KARREN VERGARA  |  MONDAY, 24 MAY 2021
An $18 billion superannuation fund is increasing its administration fees and adding to its cash option menu from July 1. CareSuper will stop passing on tax benefits to members via the fixed component of the admin fee and the percentage-based portion ...

Research aims to solve cash conundrum

ELIZABETH MCARTHUR  |  THURSDAY, 6 MAY 2021
... in place for some time, Allianz Retire+ has released new research looking at how best to solve the cash conundrum. Term deposit rates have fallen 96% since the Global Financial Crisis high of 8.25% and now sit at just 30 basis points, according to the ...

Mawhinney banned for 20 years

ELIZABETH MCARTHUR  |  MONDAY, 19 APR 2021
The Federal Court has ruled that Mayfair 101 founder James Mawhinney cannot fundraise for or advertise financial products for 20 years. The judgement, delivered this morning, ordered that Mawhinney and any of his employees or any companies he is a part ...

Catholic Super bank implements Temenos

KANIKA SOOD  |  MONDAY, 12 APR 2021
Catholic Super's bank MyLife MyFinance has implemented Temenos' digital banking platform replacing its legacy system. Temenos said the implementation reduces the bank's complexity by moving all processes and data to one core system, Temenos Transact. ...

Mayfair found to have misled

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 MAR 2021
... deposits on properties and used to purchase assets that were not secured. The judge, Justice Anderson, found the term deposit representation was: "Misleading or deceptive and created a false and misleading impression that the Mayfair products were comparable ...

AustralianSuper adds gold ETF to menu

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 MAR 2021
AustralianSuper, Australia's largest super fund with over $200 billion in assets under management, has added ETF Securities Physical Gold ETF (ASX: GOLD) to its direct investment menu. The fund's direct investment offering allows some members a choice ...

Mayfair 101 wins case, questions remain

ELIZABETH MCARTHUR  |  MONDAY, 8 MAR 2021
... particular issue with the fact that the debenture products were being marketed using Google AdWords phrases like "term deposit" and "bank deposit". Despite Klees being unsuccessful in his suit, his complaint echoes many of ASIC's concerns about Mayfair ...

Challenger to buy industry-fund-owned bank

KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
... from the Federal Treasurer and Australian Prudential Regulation Authority. The ASX-listed company will expand MLMF's term deposit offering by replicating the investment strategy it uses in its term annuity business. Second, the acquisition will allow ...

LICs show sign of struggle

ANNABELLE DICKSON  |  WEDNESDAY, 16 DEC 2020
Demand for listed investment companies (LICs) has decreased significantly due to heightened investor interest in exchange traded products (ETPs), managed accounts and mFunds. The latest Rainmaker Information Wholesale Advantage Report show LICs previously ...

Mayfair 101 heads to mediation

ELIZABETH MCARTHUR  |  FRIDAY, 11 DEC 2020
In what seems to be a win for the embattled business, the federal court has consented to Mayfair 101's request that a mediation be ordered in proceedings brought by ASIC. "Today's court outcome is a big win for our investors. This matter should have ...