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AMP advice lead rejects AMPFPA claims

JAMIE WILLIAMSON  |  MONDAY, 19 AUG 2019
The head of AMP's advice business has rebuffed claims the group failed to meet its legal obligations to advisers in announcing changes to its Buyer of Last Resort terms, saying the AMP Financial Planning Association was informed ahead of time and ...

Short-seller targets infant formula importer

ELIZABETH MCARTHUR  |  FRIDAY, 16 AUG 2019
... actually imports much less infant formula than it claims to and that Ausnutria understates labour costs in annual reports. On top of that, Blue Orca claims that Ausnutria was involved in a sham buyout just last month. Ausnutria claimed it owned 60% of ...

Chief economist update: Greater than the Great Recession of 2008

BENJAMIN ONG  |  THURSDAY, 15 AUG 2019
... economy (including the US of A) and lifting the tide that lfits all boats. Trump's got to stop thinking that America will be top of the pops by putting others down.

State Street loses biggest ETF title

KANIKA SOOD  |  WEDNESDAY, 14 AUG 2019
... SPDR S&P/ASX 200 [ASX: STW] fell to $3.9 billion after about $170 million of outflows during the month. Stepping into the top spot is another Australian equities ETF. Fee cuts working Vanguard Australian Shares Index (ASX: VAS) picked up $97 million ...

CFS trims corporate super distribution team

KANIKA SOOD  |  MONDAY, 12 AUG 2019
... development managers - come as FirstChoice Employer's net assets stagnate even though the retail fund's performance is in the top quartile. This leaves CFS's corporate superannuation team with 22 people, which includes functions such as business development ...

AFA names Female Excellence finalists

KRISTI CHENG  |  MONDAY, 12 AUG 2019
Women who are standouts in their community contributions have come out on top in the 2019 Female Excellence in Advice Award (FEIA) finalists list. That's according to TAL general manager retail distribution Niall McConville, who said the finalists stood ...

Renewed calls for risk-adjusted returns

KARREN VERGARA  |  MONDAY, 12 AUG 2019
The endemic use of headline returns to pit a superannuation fund's performance against another has renewed calls for a fairer, like-for-like comparison that focuses on risk as the key metric. The propensity for research houses, the media - and even ...

Fossil fuel holdings cost BlackRock investors $90bn

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2019
... by US$150 billion. That investment led to a US$19 billion loss for BlackRock over three years. In 2011, BlackRock was the top shareholder in Peabody Energy, a coal mining company with operations in the US and Australia, with two million shares equating ...

Chief economist update: Look out below

BENJAMIN ONG  |  TUESDAY, 6 AUG 2019
... Trump has pushed China back so hard against the wall that it's now upping the ante. The yuan's depreciation comes on top of the Chinese government's move to suspend imports of US agricultural products and threats to retroactively impose tariffs ...

More scrutiny for super fund, insurance firm chiefs

KARREN VERGARA  |  MONDAY, 5 AUG 2019
Top executives of superannuation funds and life insurance companies could soon face another inquiry that has traditionally put the blowtorch on the chiefs of the four major banks. The Coalition has asked that the House of Representatives Standing Committee ...