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Showing 131 - 140 of 1878 results for "Never"

Challenger profits up, share price falls

ANDREW MCKEAN  |  TUESDAY, 18 FEB 2025
Challenger has reported a normalised net profit after tax (NPAT) of $225 million, up 12%, driven by higher earnings across its retirement income brand, Life, and its funds management division, according to its first-half 2025 results announcement. The ...

Perpetual receives fresh KKR bid

ELIZA BAVIN  |  MONDAY, 17 FEB 2025
Perpetual confirmed it has received a fresh bid from KKR for the acquisition of its wealth management and corporate trustees businesses, after the deal sat on the backburner for two months. Perpetual said it was considering the revised offer, but did ...

AMP profit dives as advice business sale bites

ANDREW MCKEAN  |  FRIDAY, 14 FEB 2025
AMP's statutory net profit after tax (NPAT) slumped to $150 million in the 2024 financial year, nearly half the previous year's result, which the firm attributed to simplification spend and the sale of its advice business. The prior year's ...

Industry fund insurance bungle adds fuel to mounting outrage

ANDREW MCKEAN  |  THURSDAY, 13 FEB 2025
... believe the money would've been paid by now if we hadn't gone to the underwriters and dealt with them directly. That should never be the case." He said Rest should've done everything in their power to get things over the line as painlessly as possible ...

Magellan Financial Group 'redemption risks heightened'

ANDREW MCKEAN  |  WEDNESDAY, 5 FEB 2025
Magellan Financial Group's fair value estimates have been cut by both UBS and Morningstar due to an increased risk of redemptions following the announced departure of head of investments and infrastructure Gerald Stack, who's leaving the firm in July. ...

Trump orders creation of US sovereign wealth fund

ANDREW MCKEAN  |  TUESDAY, 4 FEB 2025
... fund for greater long-term wealth generation. Trump said the establishment of a sovereign wealth fund, which the US has never had, is a very exciting event. "We have a lot of things that create wealth, and you've seen that over the last two weeks," Trump ...

Former adviser pleads guilty to $1m theft

MATTHEW WAI  |  MONDAY, 3 FEB 2025
... falsified credentials on LinkedIn and claimed that he was working for Brigg Macadam, with the firm later stating that Torre was never an employee. As a result of his pleas, Torre is remanded in custody until February 7 and a sentence hearing has been ...

Transfer balance cap to rise on July 1

JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2025
... and taxable component ratio and market growth," he noted. Where clients have already stared a retirement phase pension but never full used their personal TBC, advisers should consider the impact of adding more funds into retirement phase before July ...

HNW advisers flock to private markets

MATTHEW WAI  |  THURSDAY, 30 JAN 2025
... private wealth solutions Steve Brennan said the attention on private markets is unprecedented. "Just a few years ago, we would never have expected to see nearly 60% of advisers planning to allocate 10% or more of clients' portfolios to this asset class ...

Cbus hits $100bn in member assets

ELIZA BAVIN  |  TUESDAY, 28 JAN 2025
Cbus delivered double-digit returns in 2024, helping to propel its members' assets to the $100 billion mark. The default Growth (MySuper) investment option generated returns of 10.77% for 2024. The fund's High Growth investment option, returned ...