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Showing 1291 - 1300 of 6747 results for "Profit"

Magellan readies lower-cost funds

KANIKA SOOD  |  WEDNESDAY, 12 AUG 2020
Magellan is readying a new low-cost lineup of its strategies for retail investors, as it reports 5% higher net profit after tax of $395.2 million for FY20. The Magellan Core series will kick off as open-ended funds on Chi-X (so far its ETFs use ASX ...

AIST veteran tenders resignation

ALLY SELBY  |  WEDNESDAY, 12 AUG 2020
... has been pivotal in expanding AIST's professional development offering and fostering deep ties between AIST and the wider profit-to-member sector," she said. "While we are sad to see Maryann leave, we respect that she is ready for a change and the next ...

CBA profit takes hit, dividend cut

ELIZA BAVIN  |  WEDNESDAY, 12 AUG 2020
The Commonwealth Bank has announced an 11.3% profit hit due to the effects of the COVID-19 pandemic and slashed its dividend by 31%. The bank announced its FY20 results, saying it reflects the impact of COVID-19 on its customers and the economy, adding ...

Tough year at Challenger

KANIKA SOOD  |  TUESDAY, 11 AUG 2020
... investment experience of $750 million and the $9 million cost associated with windup of a Fidante boutique. Normalised pre-tax profit was $507 million (within guidance of $500 million to $507 million). Funds management business - which includes multi-boutique ...

Cbus adds to leadership

ANNABELLE DICKSON  |  TUESDAY, 11 AUG 2020
The $54 billion fund has hired Natalie Hannemann as head of service, member and employer experience, commencing in September. Hannemann joins from World Vision where she spent the last eight years in a number of roles including most recently chief ...

Perpetual launches two ESG funds

KANIKA SOOD  |  FRIDAY, 7 AUG 2020
... 29% of the total operating revenue post acquisition, Perpetual said at the time. Perpetual is expecting to statutory net profit after tax of $82 million for FY20.

IOOF divests Australian Ethical

ELIZABETH MCARTHUR  |  FRIDAY, 7 AUG 2020
... divestment will be used to reduce debt and provide strategic flexibility for growth opportunities. The impact on underlying net profit after tax is immaterial. Australian Ethical has campaigned against unethical behaviour in the Australian financial ...

BetaShares rejigs oil ETF...again

KANIKA SOOD  |  WEDNESDAY, 5 AUG 2020
... million after about $29 million of outflows as oil prices rebounded. Vynokur said the June outflows reflect investors taking profit after recent rebound in oil prices (OOO returned 7.82% in June). He said the firm is seeing increase in allocation to ...

Bain Capital begins restructure reckoning

ALLY SELBY  |  WEDNESDAY, 5 AUG 2020
Virgin will cut 3000 jobs, discontinue budget airline Tigerair, suspend long-haul international flights and simplify its fleet, as Bain Capital begins to restructure its new aviation group. The restructure reckoning focuses on six key areas; overhauling ...

GAM records $19bn in outflows

JAMIE WILLIAMSON  |  WEDNESDAY, 5 AUG 2020
... year, resulting in heavy hits to fee and commission income. GAM has reported a pre-tax loss of $3.05 million compared to a profit of $3.21 million same time last year. It follows almost $13 billion in outflows in the six months to July, which in turn ...