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Chief economist update: A date with the RBA in July

BENJAMIN ONG  |  WEDNESDAY, 5 MAY 2021
... Board will consider whether to retain the April 2024 bond as the target bond for the 3-year yield target or to shift to the next maturity, the November 2024 bond. The Board is not considering a change to the target of 10 basis points. At the July meeting ...

Macquarie finalises Waddell & Reed acquisition

KARREN VERGARA  |  TUESDAY, 4 MAY 2021
... custodian, for US$300 million. Some 900 Waddell & Reed advisers have joined LPL. LPL expects to onboard the advisers over the next few months. MAM will retain Waddell & Reed's asset management business Ivy Investments, which has about $US76 billion ...

Ethereum overtakes big four banks

ANNABELLE DICKSON  |  TUESDAY, 4 MAY 2021
... in 2015 and 12 months ago was US$243. deVere Group chief executive Nigel Green predicts Ethereum to reach US$5000 over the next week. "Ether is up more than 300% for the year so far, which is far greater than the 95% jump in the headline-grabbing Bitcoin," ...

Chief economist update: The Fed and Australia

BENJAMIN ONG  |  TUESDAY, 4 MAY 2021
... at the same time repeating his expectation that the US central bank will have to start raising interest rates as soon as next year. The strengthening momentum in the US economy backs up Kaplan's rationale. The thing is, if the US starts tapering ...

Bill and Melinda Gates to divorce

ELIZABETH MCARTHUR  |  TUESDAY, 4 MAY 2021
... and will continue our work together at the foundation, but we no longer believe we can grow together as a couple for the next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life." The Gates' have significant ...

Bellmont adds to distribution team

KARREN VERGARA  |  MONDAY, 3 MAY 2021
... solution. Bellmont director Peter Bell said: "It's really exciting to have Paul on board with us, helping to lead this next phase of our growth. As a former adviser and director of an advice business that we've been working with for over three ...

Crescent Finance launches real estate funds

KANIKA SOOD  |  MONDAY, 3 MAY 2021
Crescent Finance is setting its sights on $5 billion of property transactions over the next five years, as it launches two new funds to invest in Islamic-compliant housing. The two funds are Crescent Growth Fund and Crescent Finance Income Fund. Both ...

Rise of the mega funds continues

ANNABELLE DICKSON  |  MONDAY, 3 MAY 2021
... mostly in the industry funds sector," KPMG national sector leader, asset & wealth management Linda Elkins said. "Over the next few years, we will see an increase in scale of the 'mega' funds and a widening gap between the 'sub-mega' funds and those lower ...

Chief economist update: COVID-19 causes double-dip

BENJAMIN ONG  |  MONDAY, 3 MAY 2021
... a Bloomberg report (citing SocGen) that, European companies intend to purchase around €150 billion of their own shares next year - a "25% jump from the average of €120B in the five years pre pandemic". And why shouldn't they be? There's money ...

Mandates will flow to transparency: Survey

ELIZABETH MCARTHUR  |  FRIDAY, 30 APR 2021
... managers. Global Palladium Fund surveyed 100 institutional investors and wealth managers in the UK and Germany. Overall, over the next two years 94% of survey respondents said they expect institutional investors, wealth managers and family offices to ...