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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 ...

GESB adopts Protecting Your Super reforms

JAMIE WILLIAMSON  |  MONDAY, 30 SEP 2024
... legislation, which was introduced in 2019 to help avoid unnecessary erosion of account balances. As of September 25, GESB can now cancel insurance in accounts that have not received a contribution for 16 months or more, unless notified otherwise, and ...

ETFs preferred vehicles for Aussie, US advisers: Surveys

KARREN VERGARA  |  MONDAY, 30 SEP 2024
... exchange-traded funds (ETFs) continue to attract the glut of financial advisers both here and overseas as only a minority now shun the investment vehicles, new surveys find. The portion of advisers canvassed in VanEck's annual survey who recommend ...

Colonial First State hires PE head, farewells sales exec

ELIZABETH FRY  |  FRIDAY, 27 SEP 2024
... several senior management roles at the asset manager, which was bought by KKR about three years ago. The private equity group now owns 55% of CFS which it acquired from Commonwealth Bank of Australia. Incidentally, KKR is also set to acquire the corporate ...

Regulators to clamp down harder on greenwashing

ANDREW MCKEAN  |  FRIDAY, 27 SEP 2024
... on reviewing how the new technologies will work with existing architecture, and what the new risks are. The opportunity is now for companies to start building strong foundations for regulatory compliance going forward," Butler-Beatty said.

Pitcher Partners executives launch advice firm

KARREN VERGARA  |  FRIDAY, 27 SEP 2024
... joined Pitcher Partners in 2018 as head of risk, compliance, and operations, as well as serving as general manager. Levi is now chief operating officer, spending the last five years as Pitcher Partners' head of operations. Meanwhile, Pitcher Partners' ...

Schroders launches high yield credit strategy

MATTHEW WAI  |  FRIDAY, 27 SEP 2024
... Yielding Credit Fund, which has been an allocation within Schroders fixed income and multi-asset strategies since 2001, is now available as a standalone fund and will allow investors to diversify their equity or term deposit allocations whilst preserving ...

Rapid growth in super sector poses risk to financial stability: RBA

ELIZA BAVIN  |  FRIDAY, 27 SEP 2024
... guarantee) returns to members," the RBA report said. However, the RBA noted that "the sector's rapid growth" - which it noted now makes up one-quarter of the financial system - and the rise in herding around common benchmarks and increased exposure to ...