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Showing 211 - 220 of 1952 results for "Default"

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
... escalated the matter to ASIC and APRA. Another troubling discovery pertained to the inappropriate lapse of members' default insurance. AFCA said a trustee didn't adequately inform members of their right to retain their default insurance cover ...

US default risk: Are credit default swaps signalling trouble?

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
A Western Asset product specialist says rising credit default swap (CDS) spreads have sparked concerns. However, he downplayed the risk of a US default, calling it a "very low probability event". Robert Abad recalled the sole instance of a "technical" ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... first step." QMV Legal managing partner Jonathan Steffanoni noted that the "Protecting Your Super" reforms introduced a default account stapling law in November 2021. This law is likely to reduce unintentional duplicate accounts in the future, he said. ...

Australian Retirement Trust reduces fees, ups premiums

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
... cost of its various investment options will change, with the bulk seeing a reduction. On the MySuper front, ART's default Balanced option currently costs $410 per $50,000 invested. From July, this will drop to $400. Fees on its Growth, Balanced ...

HESTA revamps insurance offering

JAMIE WILLIAMSON  |  THURSDAY, 4 MAY 2023
... paid by some members will change, with HESTA saying it believes over 50% of those with standard cover - to be termed 'default cover - will see a reduction. This is because the way in which the fees are charged will change. From July, the fees paid by ...

YFYS recommendations not enough: AIST

JAMIE WILLIAMSON  |  THURSDAY, 6 APR 2023
... the YourSuper comparison tool, adding that she is disappointed the government had not acted on stakeholder feedback that default sorting of products by fees in the comparison tool could unintentionally increase the ranking of poorly performing products ...

Jones releases Your Future, Your Super review outcomes

KARREN VERGARA  |  TUESDAY, 4 APR 2023
... simple and trusted information, while putting downward pressure on fees. However, one issue raised by stakeholders is the default sorting of products based on fees, which can unintentionally increase the ranking of products with relatively poor investment ...

Industry fund tops performance tables

CASSANDRA BALDINI  |  MONDAY, 3 APR 2023
... fifth place on 6.7%, followed closely by its merger partner Hostplus on 6.6%. Three-year benchmark indices for MySuper Default Option Index returned 5.3%, Rainmaker Growth Index returned 5.8% while Rainmaker Balanced Index returned 4.3% and the Rainmaker ...

Still work to be done on group insurance: ASIC

JAMIE WILLIAMSON  |  WEDNESDAY, 22 MAR 2023
... using the ADL definition, ASIC said. ASIC also flagged that trustees were not adequately monitoring member value from default insurance, with wide variation in the design and pricing of default insurance. Some members were paying over 12 times for cover ...

Future-proofing the super system: Rees

CHLOE WALKER  |  TUESDAY, 21 MAR 2023
... one of the best defenses against people coming back to it, and an argument for early access is having a comprehensive default insurance policy." Rees said a legislated purpose for super will provide clarity around its intent and key principles, which ...