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Challenger profits up, share price falls

ANDREW MCKEAN  |  TUESDAY, 18 FEB 2025
... expanded its leading range of investment strategies and managers, he said. "Our leading credit asset origination platform now includes whole loan servicing, and we have participated in a number of flow and block opportunities that provide the Life business ...

Custodians revel in double-digit gains

JAMIE WILLIAMSON  |  TUESDAY, 18 FEB 2025
... Artega Investment Administration's $2.08 billion in assets to State Street. This saw a total of $127 billion in assets now overseen by State Street on Challenger's behalf. HSBC's assets under custody grew by 17.2% to $91.63 billion and Netwealth's ...

Why the RBA should not cut rates

ELIZA BAVIN  |  TUESDAY, 18 FEB 2025
... rates are. "The most important thing is that we bring inflation back within the 2-3% range, and it's even more critical now because actually we've had decades of low inflation and now we've had this inflation outbreak," she said. "If we don't ...

Australian GDP growth 'steady but not solid': La Trobe

MATTHEW WAI  |  TUESDAY, 18 FEB 2025
... less than enlightening, Tagg said. "We're probably looking around 2% [GDP growth] this year in our view, although right now it's sitting below 1%...," Tagg said. "Consider the annual GDP growth of Australia over our top trading partners this ...

Our results were strong: Alexis George

ANDREW MCKEAN  |  MONDAY, 17 FEB 2025
... bolt-on capability. We know technology is increasingly important, there might be something there, but nothing on the agenda now," George said. She said it wouldn't be today when considering potential acquisitions, however added that AMP has a responsibility ...

Economist calls for 35bps rate cut

ELIZA BAVIN  |  MONDAY, 17 FEB 2025
... Michele Bullock. The RBA has repeatedly reminded Australians that returning inflation to target is the priority and inflation is now below the midpoint of the 2-3% band," Solomon said. "If one is searching for a reason not to cut, growth would certainly ...

Housing construction lags broader economy by 49%: PC

KARREN VERGARA  |  MONDAY, 17 FEB 2025
... economy moved in line with the housing construction sector, average incomes in Australia would be about 41% lower than they are now," the research found. Several factors have contributed to the state of housing construction, namely complicated and slow ...

Fiducian FUMAA swell to $14.4bn

KARREN VERGARA  |  MONDAY, 17 FEB 2025
... further weakness for the Australian dollar. Fixed interest holdings have been increased but remain just under benchmark for now." Funds under advice was 6% higher year on year at $5 billion from $4.7 billion. Fiducian has a total of 78 aligned financial ...

Foreign investors banned from buying homes

ELIZA BAVIN  |  MONDAY, 17 FEB 2025
... mean Australians will be able to buy homes that would have otherwise been bought by foreign investors," Chalmers said. "Until now, foreign investors have generally been barred from buying existing property except in limited circumstances, such as when ...

Capital Group promotes for key distribution role

JAMIE WILLIAMSON  |  MONDAY, 17 FEB 2025
The head of client group, Australia role will now be held by Jorden Brown. Brown has been with Capital Group since 2014 and was most recently managing director, financial intermediaries for Australia and New Zealand. Before joining Capital Group, Brown ...