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Magellan fund to launch as active ETF

KARREN VERGARA  |  FRIDAY, 12 JUL 2024
Magellan's Global Fund (MGF) has converted to an open-class structure that will soon trade as an active exchange-traded fund (ETF) on the ASX. On July 10, the New South Wales Supreme Court approved to convert the fund from a closed-class unit to ...

Markets look to US rate cuts as inflation falls

ELIZA BAVIN  |  FRIDAY, 12 JUL 2024
... actions that could be construed as favoring one political outcome over another," Green said. "A rate cut in September, so close to the election, could be seen as an attempt to influence the political landscape by boosting economic sentiment." Powell ...

Insignia Financial overhauls operating model, executive team

JAMIE WILLIAMSON  |  THURSDAY, 11 JUL 2024
... Suan had worked at AMP since 2012, prior to which she held several roles at the Reserve Bank of Australia over a period of close to nine years. "I strongly believe Insignia Financial has the opportunity to be an industry leader and these changes will ...

Fiji National Provident Fund hunts active fund managers

KARREN VERGARA  |  WEDNESDAY, 10 JUL 2024
... billion, while net income increased by 19.2% to $775.8 million. It paid out $441 million to 52,375 members. Applications close July 26.

Inflation pummels adviser pay by 20%

KARREN VERGARA  |  WEDNESDAY, 10 JUL 2024
... further pushing up the cost of advice and making it less accessible." "Cost of on-going advice clients is already getting close to $4000 per annum, any further increase may not be acceptable to the client market." A survey from BT found that running ...

The investment managers winning the biggest mandates

ANDREW MCKEAN  |  TUESDAY, 9 JUL 2024
Some investment managers still scored large mandates despite an overall nosedive in appointments by not-for-profit super funds. Alphinity, which manages $31.39 billion of Australian-sourced funds, was awarded a $2.92 billion international equites mandate ...

Spaceship returns 19.41% to super members

JAMIE WILLIAMSON  |  TUESDAY, 9 JUL 2024
... delivered some of the best results seen so far, with its flagship product returning almost 20% while the other achieved close to 17%. The GrowthX investment option, first launched in January 2017, returned 19.41% to members for the 12 months to June ...

Stake to operate under its own AFSL

ANDREW MCKEAN  |  MONDAY, 8 JUL 2024
Stake currently provides financial services as an authorised representative of Sanlam Private Wealth and global payments giant Airwallex; both hold an AFSL. But soon, Stake will operate under its own AFSL, offering services as an authorised representative ...

HMC Capital announces new $50m investment

ELIZA BAVIN  |  MONDAY, 8 JUL 2024
... existing grid infrastructure across mainland National Electricity Market states. The transaction is expected to reach financial close in early July 2024 and HMC remains on-track to commence fund raising in 2H 2024 for its inaugural Energy Transition ...

Cbus MySuper investment option returns 8.35%

ANDREW MCKEAN  |  FRIDAY, 5 JUL 2024
... short-term returns from the property asset class have remained challenging since the pandemic, we believe property values are now close to stabilising and our long-term focus on owning and developing high quality assets means our portfolio remains well ...