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Platinum's FUM dips below $14bn

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2024
... Morningstar note from March calculated the massive mandate loss represented about 9% of Platinum's FUM of $15.6 billion at the time. Incidentally, Morningstar cut its fair value estimate of Platinum's share price by 20% to $1.00. "Product limitations ...

Australian Retirement Trust wraps up AvSuper merger

ANDREW MCKEAN  |  TUESDAY, 7 MAY 2024
... better served in a different fund with more resources at its disposal," AvSuper chief executive Michael Sykes said at the time. Six months later, AvSuper confirmed it would look to merge with Commonwealth Superannuation Corporation (CSC), a process that ...

HESTA names chief financial officer

ELIZABETH FRY  |  TUESDAY, 7 MAY 2024
... manager at Australia's anti-trust regulator. Kelly also sits on the board of St Andrew's Private Hospital and is a long-time supporter of MS Angels, which supports research into multiple sclerosis. HESTA chief executive Debby Blakey said Kelly ...

FSC launches digital advice group

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... financial services and superannuation industry, and lead the policy discussion as the technology-lead proposition evolves over time."

Farewell TelstraSuper: Largest corporate fund explores merger options

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
TelstraSuper is searching for a merger partner, after its board concluded that size and scale are "increasingly important" to serving members' best financial interests. "The TelstraSuper Board see this as an exciting opportunity for members as we ...

ATO flags key focus areas this tax time

ELIZA BAVIN  |  MONDAY, 6 MAY 2024
... assistant commissioner Rob Thomson said the ATO was focused on supporting taxpayers to get their lodgment right the first time. "These are the areas that people are most likely to get wrong, and while these mistakes are often genuine, sometimes they ...

Charles River appoints new head of APAC

ELIZA BAVIN  |  MONDAY, 6 MAY 2024
... business. He has over 25 years of experience in leadership positions in sales, consulting, and engineering. Prior to his time at FactSet, Bhat spent a decade at Tata Consultancy Services. "I'm very pleased to welcome Vin to the Charles River and Alpha ...

UniSuper battles major system outage

JAMIE WILLIAMSON  |  FRIDAY, 3 MAY 2024
UniSuper is working to resolve an ongoing system outage impacting the entire business, assuring disgruntled members it is not the result of a data breach. The $135 billion super fund's online systems have been disrupted this week, with its 665,000 ...

Asset managers prioritising product quality: Northern Trust

ANDREW MCKEAN  |  FRIDAY, 3 MAY 2024
... important that managers have a deep understanding of their clients' needs so they can find them the right product at the right time, because there is no one-size-fits-all solution," he said. The survey also revealed that 83% of respondents plan to change ...

Count upgrades synergy benefits after Diverger acquisition

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
... had been upgraded to approximately $4 million by FY25, which is an increase from the initial $3 million it expected at the time of the acquisition. Count chief executive Hugh Humphrey said the upgraded figure was further evidence of the value of the ...