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Vanguard Super's default option delivers 13.2% return

ANDREW MCKEAN  |  MONDAY, 15 JUL 2024
... cap from $850,000 to $300,000. As a result of these fee reductions, Vanguard Super's default MySuper lifecycle product is now one of the cheapest products of its kind for Australians across a range of ages and balances. Vanguard said that the fees for ...

AFCA caps Dixon claimants at 2773

KARREN VERGARA  |  FRIDAY, 12 JUL 2024
... $700,000. AFCA essentially closed the doors to any new victims coming forward on June 30 when it ended Dixon's membership. "Now that Dixons' AFCA membership has finally ceased - after two false deadlines, and almost 2.5 years after being put ...

Global X set to launch an Australian Bank Credit ETF

ANDREW MCKEAN  |  THURSDAY, 11 JUL 2024
... BANK is to take advantage of this untapped potential. BANK represents the 40th listed ETF from Global X. The ETF provider now has more than $7.5 billion in assets under management.

Australia climbs global wealth ranks

ELIZA BAVIN  |  THURSDAY, 11 JUL 2024
... equal to Hong Kong, and only exceeded by Luxembourg and Switzerland," he said. "This growing wealth, and the wealth transfers now occurring as the baby boomer generation ages, reinforces the need for investors to build a long-term wealth plan and to ...

ETFs trump active managed funds in core portfolios

KARREN VERGARA  |  THURSDAY, 11 JUL 2024
... changes to client portfolios in the next year. This is higher than the 26% in 2023. However, in a significant shift, they now give equal consideration to ETFs and active unlisted managed funds when constructing core portfolios, she said. The findings ...

Insignia Financial overhauls operating model, executive team

JAMIE WILLIAMSON  |  THURSDAY, 11 JUL 2024
... and streamline our operating model to ensure we are better aligned to deliver to our customers, and all our stakeholders, now and into the future," Hartley said. "Under our new operating model, each line of business will be led by an executive focused ...

UK government to establish national wealth fund

JAMIE WILLIAMSON  |  WEDNESDAY, 10 JUL 2024
... I have been clear that there is no time to waste. I have previously committed to establishing a National Wealth Fund. I am now going further by bringing together key institutions," Chancellor of the Exchequer Rachel Reeves said. "We need to go further ...

Government lifts funding to preserve banking in the Pacific

ANDREW MCKEAN  |  WEDNESDAY, 10 JUL 2024
... particularly acute for customers who are remote, vulnerable, and disadvantaged," Jones said. "These essential services are now under threat." ANZ chief executive Shayne Elliot acknowledged that connecting Pacific Islands through payments is becoming ...

MetLife refreshes two products

KARREN VERGARA  |  WEDNESDAY, 10 JUL 2024
... for income protection for all benefit periods and eligible occupations. The monthly income protection benefit calculation now includes bonuses, meaning policyholders are insured for their bonuses and not just salary. The Own Business option, which is ...

DigitalX to launch Bitcoin ETF on ASX

ANDREW MCKEAN  |  TUESDAY, 9 JUL 2024
... for investors to gain exposure to the emerging digital asset sector, without the need for a digital wallet. BTXX will, for now, be the only ASX-listed locally domiciled ETF that offers direct exposure to Bitcoin. The fund will have management fees and ...