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AustralianSuper expands US footprint, names executives

KARREN VERGARA  |  FRIDAY, 4 OCT 2024
... after relocating to New York in 2021 to promote AustralianSuper as a desirable global investment partner in the US. She is now the fund's principal of member and investments engagement. There is currently about 60 AustralianSuper staff based in New ...

Wholesale investor test changes on ice: Parliamentary committee

KARREN VERGARA  |  FRIDAY, 4 OCT 2024
... Corporations and Financial Services is currently looking into the sustainability of the wholesale investor tests, which are now 22 years old, listening from investors and product providers about any unintended consequences of changing them. There are ...

Rest chief investment officer departs

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
... the future. "Andrew joined in 2020 as our first chief investment officer and, after nearly five years at Rest, has decided now is the right time to move on to his next opportunity," Doyle said. "I want to recognise and thank Andrew for the work he has ...

ANZ, OnePath settle $50m class action

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
... The no-fault settlement was reached with ANZ and its former subsidiaries, OnePath Custodians (OPC) and OnePath Life (OPL) (now Zurich Australia). Subject to court approval, the settlement entitles thousands of members with OnePath or ANZ superannuation ...

Federal Court quashes ANZ appeal

KARREN VERGARA  |  THURSDAY, 3 OCT 2024
... dismissing ANZ's appeal regarding the bank's fully underwritten institutional share placement in August 2015" and that is now reviewing the judgment.

Hamilton Lane adds SCOPE to product lineup

ELIZA BAVIN  |  WEDNESDAY, 2 OCT 2024
... been available for qualified investors in Canada, Europe, Latin America, and Southeast Asia for close to two years, and will now be open to investors, including certain high-net-worth investors in Australia. SCOPE is structured as an evergreen vehicle ...

Zurich launches new TPD option

ELIZA BAVIN  |  TUESDAY, 1 OCT 2024
... of an individual's home or vehicle. "TPD hasn't changed in 40 years - but the health and wealth of Australians has - Zurich now has a solution that allows you to tailor TPD protection to be more aligned to modern client needs, affordable, and fit for ...

Fund manager splashes $240m on AZ NGA

KARREN VERGARA  |  TUESDAY, 1 OCT 2024
... business owners of AZ NGA will retain about a 33-39% interest in the firm. Azimut's stake will be at least 25%. AZ NGA now has 34 partner firms, several of which are financial advice and accounting businesses. The group collectively has $15.1 billion ...

Praemium unveils Spectrum for HNWs

MATTHEW WAI  |  TUESDAY, 1 OCT 2024
Financial advisers now have access to a suite of solutions specifically tailored to high-net-worth (HNW) clients, known as Praemium Spectrum. Users can access a range of comprehensive assets, tools, and capabilities to better facilitate holistic wealth ...

Labor delivers another budget surplus, but productivity stalls

ELIZA BAVIN  |  TUESDAY, 1 OCT 2024
... the pandemic. "During the pandemic, aggregate productivity rose but then fell as restrictions were eased. This bubble has now well and truly burst, and our productivity level remains at about its 2015-2019 average," Productivity Commission deputy chair ...