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Industry fund awards infrastructure mandate

KANIKA SOOD  |  TUESDAY, 17 MAR 2020
An industry fund has allocated about $27 million to an unlisted infrastructure fund from First Sentier, as it diversifies its portfolio. Christian Super invested €15 million (about $27.4 million) to the First Sentier European Diversified Infrastructure ...

Volatility hits super funds

HARRISON WORLEY  |  TUESDAY, 17 MAR 2020
... long-term smooths things out, and that enables you to build long-term savings." Delaney added that even members who are close to retirement should consider that their investment horizon might be quite long, pointing out it could stretch from anywhere ...

UK asset manager acquires stake in retirement funder

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... Capital's first non-domestic, multinational investor and will be used to underpin its corporate growth. Legal & General has close to £1.2 trillion in assets under management. The company is also a provider of insurance, annuities and lifetime mortgages ...

Wall Street tumbles, ASX holds ground

ELIZA BAVIN  |  TUESDAY, 17 MAR 2020
... environment." Rodda said that despite Wall Street experiencing such an exaggerated fall overnight, US Futures saw a bounce after the close. "In this environment things don't move the same direction every day," he said. "Things are going to be exaggerated ...

Afterpay coughs up $1.5m over US loans

ALLY SELBY  |  TUESDAY, 17 MAR 2020
Afterpay has settled with a California financial services regulator over allegations it was offering illegal loans in the state without a licence. The settlement with the California Department of Business Oversight (DBO) will see the 'buy now pay later' ...

Philippines halts all trading

ELIZA BAVIN  |  TUESDAY, 17 MAR 2020
... The Philippines Stock Exchange (PSE) has announced it will halt trade until further notice, making it the first nation to close markets. The PSE made the announcement to the stock market, saying the decision is to ensure the safety of employees and traders ...

Chief economist update: China leads the way

BENJAMIN ONG  |  TUESDAY, 17 MAR 2020
"Hush, little baby don't say a word Papa's gonna buy you a mocking bird..." Perhaps, a throwback to my childhood but the lullaby applies to the different stages governments around the planet - culminating in total lockdown of their borders - ...

Financial regulators poised for action

HARRISON WORLEY  |  MONDAY, 16 MAR 2020
... accelerate" the payment of outstanding remediation to customers. "The members of the Council of Financial Regulators remain in close contact with one another and with the Australian Government and their international peers," the council said. "The council ...

Bridges acquires bank advice business

JAMIE WILLIAMSON  |  THURSDAY, 12 MAR 2020
Bridges Financial Services will take over the financial planning business of a 140-year-year old bank. Following a comprehensive review, IMB Bank has announced it will sell its financial planning business to Bridges, effective May 1. The sale sees Bridges ...

Westpac not evacuated, misinformation abounds

ELIZABETH MCARTHUR  |  THURSDAY, 12 MAR 2020
... they had direct contact with. "Based on what we know, and advice from our independent health experts, if you have not had close contact with a suspected case the risk to you is low. As such, please continue to work as you normally would, being alert ...