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Federal Reserve rate cuts beckon

ANDREW MCKEAN  |  MONDAY, 16 SEP 2024
... believe the Fed is behind the curve and that the labour market will weaken further. They posit that a 50-basis point rate cut now could prevent the need for a larger cut right before the November election - which could be perceived as influencing the ...

Pensioners to pay more under aged care reforms

JAMIE WILLIAMSON  |  FRIDAY, 13 SEP 2024
... maximum rates for rooms, allowing them to keep a portion of refundable accommodation deposits, and daily accommodation fees will now be indexed. For every $1 an individual contributes to their residential aged care, the government will pay $3.30, Wells ...

BUSSQ board members removed

ANDREW MCKEAN  |  FRIDAY, 13 SEP 2024
... and Ravbar, naming two replacements. Hemal Patel, the union's head of finance, and Paul Dunbar, an industrial officer, are now on the board. BUSSQ noted that while the administrator gave no reasons for the sudden reshuffle, it was quick to assure that ...

Future Fund restructures investment leadership

KARREN VERGARA  |  FRIDAY, 13 SEP 2024
... lead the portfolio risk function as managing director. "With the overarching structure in place each managing director will now consider the design of their teams. Existing reporting lines will be retained until those teams are finalised in coming weeks," ...

Apollo, State Street plot private markets ETF

JAMIE WILLIAMSON  |  THURSDAY, 12 SEP 2024
... Advisors' Anna Paglia said: "Demand for private assets is expected to continue to grow in the coming decade, but until now they have mainly been open to large institutions and ultra-high net worth investors." "We are pleased to be working with Apollo ...

Aussies unprepared to manage retirement income

ANDREW MCKEAN  |  THURSDAY, 12 SEP 2024
... retirement. "The supply of advisers and high regulatory burden have increased the cost of financial advice, with many Australians now unwilling, or unable to access it. As a result, fewer people are getting the advice they need to prepare for retirement ...

Rising HNW numbers fuel need for specialist advice

JAMIE WILLIAMSON  |  THURSDAY, 12 SEP 2024
... with it increased demand for estate planning, tax optimisation, and investment strategy advice. About 690,000 Australians are now considered HNWs, up from 635,000 last year, new insights from Praemium and Investment Trends show. Collectively, they manage ...

Lazard AM brings Japanese equities fund to Australia

MATTHEW WAI  |  THURSDAY, 12 SEP 2024
... transforming economic behaviour. "We believe the market is still underestimating the potential of these two secular tailwinds. Now is an opportune time for investors to revisit their strategic weighting to Japanese equities." The fund is trading at a ...

Genetic test results to no longer hinder life cover

JAMIE WILLIAMSON  |  WEDNESDAY, 11 SEP 2024
... more common in our community, cheaper to access and increasingly helping people manage or even avoid hereditary conditions. Now is the time for strict government regulation. "We're pleased to see this announcement includes a five-year review of the ...

Coalition's super on parental leave changes spark concerns

ANDREW MCKEAN  |  WEDNESDAY, 11 SEP 2024
... Sukkar noted that the Coalition provided in-principal support for super on government-funded paid parental leave. But it will now seek to amend the legislation to "introduce more flexibility." Under the Coalition's proposed changes, eligible parents ...