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Morningstar warns of stretched valuations in Australian equities

ANDREW MCKEAN  |  TUESDAY, 9 APR 2024
The Australian equity market is slightly overvalued following a strong rally, according to Morningstar's Q2 2024 outlook. The S&P/ASX 200 benchmark has climbed about 15% from its October 2023 lows to hover around 7800, signalling what Morningstar called ...

Zenith welcomes back original partner

ELIZA BAVIN  |  TUESDAY, 9 APR 2024
Zenith Investment Partners has announced the return of one of its original partners and senior investment consultant Ben Davis to the business. Davis will return to Zenith at the start of May, working alongside investment director and founding partner ...

Monochrome makes play to become a spot Bitcoin ETF in Australia

ANDREW MCKEAN  |  MONDAY, 8 APR 2024
Monochrome Asset Management has moved its bid for a spot Bitcoin ETF to Cboe from the ASX. The investment manager said Cboe is at the forefront of financial innovation, especially trade execution, which perfectly aligns with its ambition to expand its ...

Heartland finally gets regulatory approval for Challenger Bank acquisition

ELIZA BAVIN  |  MONDAY, 8 APR 2024
Heartland Group Holdings has announced it received indicative regulatory approvals from the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of New Zealand (RBNZ) for Heartland Bank's acquisition of Challenger Bank. Heartland said ...

Non-compete clauses come under the microscope

ELIZA BAVIN  |  MONDAY, 8 APR 2024
Treasury has released a new consultation paper, Non-competes and other restraints: understanding the impacts on jobs, business and productivity, finding that these restrictions could have a "chilling effect" on the workforce. "The impacts of non-compete ...

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
Superannuation funds are increasingly flouting their internal dispute resolution (IDR) process and are not doing enough to resolve member complaints before they reach the Australian Financial Complaints Authority (AFCA). The complaints authority warned ...

L1 Capital joint MD takes leave of absence

KARREN VERGARA  |  FRIDAY, 5 APR 2024
The joint managing director and co-founder of L1 Capital will take a medical leave of absence for three months. Mark Landau will take time off to undergo medical treatment for an early-stage treatable cancer, the fund manager announced this morning. ...

GQG and Magellan see FUM growth

ELIZA BAVIN  |  FRIDAY, 5 APR 2024
Both GQG Partners and Magellan Financial Group reported higher funds under management (FUM) today, but one has seen significantly more growth than the other. Magellan reported total FUM of $37.3 billion as at March 28, up from $37.2 billion on February ...

JANA appoints new investment trusts leads

ELIZA BAVIN  |  THURSDAY, 4 APR 2024
JANA Investment Advisers has appointed a head of investments, investment trusts, and a head of diversified portfolios, investment trusts. Claire Simpson will take on the role of head of investments, investment trusts and David Schnell is now head of ...

Treasury mulls transfer balance credit provision reforms

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2024
The government is consulting on changes to provisions afforded to super fund members with a capped defined benefit income stream to ensure they are not negatively impacted in the event of a merger. Under current legislation, when a super fund merges ...