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Chief economist update: Worse news is better news

BENJAMIN ONG  |  THURSDAY, 20 AUG 2020
"I love you more today than yesterday But not as much as tomorrow..." - Spiral Starecase The S&P 500 index closed 0.4% lower to 3374.85 points overnight, failing to push above the previous trading day's record high finish of 3389.78 points... but ...

CareSuper awards custody mandate

ALLY SELBY  |  WEDNESDAY, 19 AUG 2020
... how it could align both culturally and with the strategic growth initiatives of our fund," she said. "We have enjoyed a close partnership with NAB Asset Servicing to date and thank the team for their dedication to our fund over the past 20 years." J.P. ...

ASIC warns Indigenous Australians over scams

ANNABELLE DICKSON  |  WEDNESDAY, 19 AUG 2020
In light of the National Scams Awareness Week, the corporate regulator is urging Indigenous Australians to be wary of scams. The Australian Securities and Investments Commission is one of the agencies responsible for the National Indigenous Consumer ...

S&P 500 rebounds from COVID-losses

ELIZA BAVIN  |  WEDNESDAY, 19 AUG 2020
The S&P 500 closed at a record high overnight, rebounding from the massive COVID-19-related losses that have rocked global markets. The index closed above its February high, marking the shortest bear market in history, surging around 55% since March ...

thedocyard details merger, proposes raise

ANNABELLE DICKSON  |  WEDNESDAY, 19 AUG 2020
... issue price of shares under the capital raise is expected to be between 15 cents to 17 cents per share, compared to the last close price of 19 cents. thedocyard expects to undertake a share consolidation on a 10 for 1 basis leading to current shareholders ...

How to make sense of reporting season

ALLY SELBY  |  TUESDAY, 18 AUG 2020
... in a cycle type event". "Australian market earnings are expected to fall almost -20%, while the UK is expected to report close to a -40% drop given the large exposure to financials and energy," it said. "Looking forward, the key is around the shape of ...

Challenger boutique managing Nikko strategy

KANIKA SOOD  |  TUESDAY, 18 AUG 2020
Sydney fixed income boutique Ardea Investment Management is now managing a customised strategy for Nikko Asset Management's institutional clients in Japan. Ardea in February began managing a strategy which aims to deliver JPY Libor plus 2% return after ...

Sunsuper announces investment, insurance changes

ELIZA BAVIN  |  TUESDAY, 18 AUG 2020
... 0.25%p.a. over a rolling five-year period, which has now been reduced to three-years. As of January 1 next year, Sunsuper will close its Capital Guaranteed Investment option. It will also change the name of its Hedge Funds and Alternatives Strategies ...

Chief economist update: COVID-19 cycle

BENJAMIN ONG  |  MONDAY, 17 AUG 2020
... in Victoria, Australia forcing the state government to impose Stage 4 restrictions, and the country's other states to close their borders with Australia's second largest state. Queensland even went further by shutting its borders with New South ...

Advisers bolt to cash, gold

ANNABELLE DICKSON  |  FRIDAY, 14 AUG 2020
Advisers seeking to de-risk portfolios have sparked mass inflows to defensive assets and an almost equal amount in outflows of riskier assets, namely Australian equities. The BetaShares Australian High Interest Cash ETF (AAA) and ETF Securities Physical ...