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QAR final response winds clock back, says FAAA

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
The Financial Advice Association Australasia (FAAA) is now rethinking its initial support of the government's response to the Quality of Advice Review (QAR), saying the latest proposals could "wind the clock back five years" on the industry. Today ...

Adviser with Investport links sees ban affirmed

JAMIE WILLIAMSON  |  THURSDAY, 7 DEC 2023
... ties to Linchpin Capital and Beacon Financial Group, Endeavour Securities, and Investport. While licensed by Financiallink, now Nextgen Financial Group, Anderson advised clients of her practice, Beyond iWealth, to invest in the now defunct Invesport ...

Private markets make concrete inroads with advisers

KARREN VERGARA  |  WEDNESDAY, 6 DEC 2023
... traditionally known as "limited partnership arrangement". "Investors are not actually a unitholder, but partner in a fund. This is now moving towards a traditional managed fund where you have units in a trust. The whole industry is moving towards private ...

VFMC selects new chair

JAMIE WILLIAMSON  |  WEDNESDAY, 6 DEC 2023
... retirement of long-serving chair James McKenzie in August. At that time, Gay was selected to serve as chair on an interim basis. Now, she has been named McKenzie's permanent replacement. In taking up the role, she vacates the seat of deputy chair. "On ...

Global X accelerates push to leapfrog local rivals

ANDREW MCKEAN  |  WEDNESDAY, 6 DEC 2023
... ambitious growth in assets under management (AUM) by the end of 2024. The ETF manager, having reached $6 billion AUM in 2023, is now pursuing a goal of $10 billion by 2025, with the hope of increasing its Australian market share. Global X chief executive ...

Interest rates on hold as RBA pauses

CHLOE WALKER  |  WEDNESDAY, 6 DEC 2023
... their own forecasts for underlying inflation or the jobs market," Bloxham said. "Our central case is that the cash rate will now be held steady at 4.35% for some time."

Barings prepares new strategies for local institutional investors

ANDREW MCKEAN  |  TUESDAY, 5 DEC 2023
... market share from banks. The private equity sponsor network, traditionally reliant on banks for about 90% to 100% of demand is now experiencing a shift. Barings Private Finance Group APAC head Shane Forster previously pointed out that regulations have ...

Qantas Super takes merger plans to new heights

JAMIE WILLIAMSON  |  TUESDAY, 5 DEC 2023
... best interests for three main reasons. The first, its inability to compete with larger operators. "The largest super funds now have memberships and assets under management that are many, many multiples of Qantas Super," the fund said. "While size isn't ...

QIC opens new international office

ANDREW MCKEAN  |  TUESDAY, 5 DEC 2023
... a new chapter in the state government owned investment manager's globalisation and client diversification story. Until now, QIC's international operations have primarily revolved around OECD markets, where it has actively invested and managed ...

Rest welcomes chief financial officer

CHLOE WALKER  |  TUESDAY, 5 DEC 2023
... O'Sullivan took over the leadership of Rest's finance and investment operations team during the recruitment process. Now, having been appointed to the role himself, O'Sullivan will report to Rest chief executive Vicki Doyle, and will be responsible ...