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First Bitcoin ETF to launch this week on ASX

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
VanEck will make history this week as the first investment manager to launch a Bitcoin ETF on the ASX. The VanEck Bitcoin ETF (ASX: VBTC), which will list this Thursday, has come into being after an uptick in queries and requests from the adviser and ...

Temasek invests $300m in Betashares

KARREN VERGARA  |  MONDAY, 17 JUN 2024
... In 2021, US private equity firm TA Associates took about a 50% stake in Betashares for an undisclosed sum. Betashares did not reveal the exact stake Temasek will gain if the transaction goes ahead, nor did it confirm if TA Associates sold some of its ...

Social media, news addiction cost returns: Morningstar

KARREN VERGARA  |  MONDAY, 17 JUN 2024
... Zealand Mathew Hodge said, but do so at their own peril. For one, investors tend to use smartphones to absorb such news, leading not only to information overload but anxiety, insecurity, attention deficit disorder, and poorer neck posture and eyesight. ...

Innova backs using leverage in super for housing

ELIZA BAVIN  |  MONDAY, 17 JUN 2024
... investment profile should generate similar or greater return than a leveraged property investment." Miles said while it may not be enough to solve the housing crisis on its own, it deserves further considering while younger Australians wait for political ...

'Little prospect' for RBA hike despite stubborn inflation

ELIZA BAVIN  |  MONDAY, 17 JUN 2024
... economists. GSFM investment strategist Stephen Miller said there was "little prospect" of a change in messaging from the "not ruling anything out" mantra the board has stuck to in recent months. "In the wake of the data flow since the board last met ...

Advisers call for apology from Super Members Council

JAMIE WILLIAMSON  |  FRIDAY, 14 JUN 2024
... committed to ensuring they are held to account. FAAA members pay a very large amount to ASIC to monitor and hold to account not only financial advisers but also unlicensed operators. "Our members also actively report misconduct that they encounter, to ...

APRA updates industry on operational resilience guidance

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
The Australian Prudential Regulation Authority (APRA) has released its finalised prudential practice guide to help superannuation trustees, banks and insurers strengthen their management of operational risk and improve business continuity planning. ...

ASIC issues first stop order for crowd funding

ELIZA BAVIN  |  THURSDAY, 13 JUN 2024
... (Corporations Act). ASIC acted in relation to Hirehood's use of a nominee arrangement, the regulator said. "This arrangement did not permit investors to directly acquire ordinary shares in Hirehood. Instead, shares issued by Hirehood were intended ...

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
... advisers using cold-calling businesses to get clients. Currently, the anti-hawking provisions only cover superannuation products, not financial advice services. "Anti-hawking laws should be tightened, and current consumer protections locked into law ...

US looks towards rate cuts, Australia lags behind

ELIZA BAVIN  |  THURSDAY, 13 JUN 2024
A raft of economic data came out from the US overnight with US Federal Reserve chair Jerome Powell indicating the US could cut interest rates at least once this year. A lower-than-expected May CPI print was encouraging, but the FOMC still kept its funds ...