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Global public debt to reach 101.5% of GDP: IMF

ELIZA BAVIN  |  MONDAY, 13 JUL 2020
... post-World War II peaks. "The ongoing COVID-19 pandemic has already prompted an unprecedented fiscal policy response of close to $11 trillion worldwide," the IMF said. "But with confirmed cases and fatalities still rising fast, policymakers will have ...

LGS certified carbon neutral

ELIZA BAVIN  |  FRIDAY, 10 JUL 2020
Local Government Super (LGS) announced it has been certified carbon neutral through Climate Active. LGS said the certification means it is one of only five Australian super funds to achieve carbon neutral status. The fund said it was awarded the certification ...

Chief economist update: We're all Victorians now

BENJAMIN ONG  |  FRIDAY, 10 JUL 2020
"The Australian economy is going through a very difficult period and is experiencing the biggest contraction since the 1930s... Conditions have, however, stabilised recently and the downturn has been less severe than earlier expected... There has also ...

Private equity weathers COVID-19 crisis: Research

ALLY SELBY  |  THURSDAY, 9 JUL 2020
... holdings were unlikely to breach covenants as a result of the crisis, while only 13% said their holdings were likely to either close or breach covenants over the next few months. Customer demand for products or services was far more varied, with 46% ...

New partner at Stanford Brown

ALLY SELBY  |  THURSDAY, 9 JUL 2020
... accounting to our clients. "In addition to his detailed knowledge of superannuation and tax law, he has built some extremely close relationships with his clients over time. We are thrilled that he has decided to plant roots at Stanford Brown." Stanford ...

Best performing managed funds revealed

ELIZA BAVIN  |  THURSDAY, 9 JUL 2020
Funds from IOOF, Vanguard and Fiducian figure among the top-five performers among wholesale funds, in the latest Rainmaker Information tables to May end. In the growth category, IOOF MultiMix Growth Trust took the top spot with returns of 7.1% pa over ...

ERS surges $7bn in a week

ELIZA BAVIN  |  WEDNESDAY, 8 JUL 2020
... applications were lodged at the start of the new financial year. However, Rainmaker Information data shows this spike is close to the initial spike seen when applications opened back on April 20. Rainmaker Information executive director of research and ...

NAB Private executive departs

KANIKA SOOD  |  WEDNESDAY, 8 JUL 2020
After Anthony Healy's departure from National Australia Bank's private banking business in March, another executive has left the bank. NAB Private customer executive Jason Murray is joining ASX-listed fintech FlexiGroup Limited as its chief financial ...

Melburnians back in the lockup

BENJAMIN ONG  |  WEDNESDAY, 8 JUL 2020
All of Metropolitan Melbourne will be back in lockdown before the clock strikes midnight tonight. Victoria's Department of Health and Human Services advises that from 11:59pm, 8 July 2020, Melburnians will only be allowed to leave home for four ...

Balanced options in the red, but only just

ALLY SELBY  |  TUESDAY, 7 JUL 2020
... ago, he said. "Superannuation has come through the COVID-19 financial crisis in remarkably strong shape to finish the FY close to flat," Dunnin said. "Given the shock of February and March, to be in this position now is mind-numbingly remarkable." And ...