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Super Consumers Australia launches, slams MySuper products

KRISTI CHENG  |  WEDNESDAY, 25 SEP 2019
New consumer group Super Consumers Australia has marked its launch with a swipe at MySuper products and the superannuation lobby. The consumer group said its research shows the superannuation system "put over 170,000 people into a poor performing super ...

Insider trading rife among company directors: ANU

ELIZA BAVIN  |  WEDNESDAY, 25 SEP 2019
... from 2005 to 2015, finding trading was contrary to the sentiment of the news. Study lead Dean Katselas said: "My results show these contrary trades were being made with non-public knowledge, privy only to company insiders, about the future performance ...

IOOF completes Ord Minnett sale

JAMIE WILLIAMSON  |  TUESDAY, 24 SEP 2019
... announcement, IOOF said the consortium would also be acquiring J.P. Morgan's 30% stake in the business. Unaudited figures show it contributed $11 million to IOOF's underlying NPAT in the 11 months to 31 May 2019.

Treasury agreed with Grattan SG modelling

KANIKA SOOD  |  TUESDAY, 24 SEP 2019
... scrap increasing the superannuation guarantee to 12% was "broadly consistent" with Treasury's own modelling, staff emails show. In November, Grattan said most workers can expect retirement income of at least 91% of their pre-retirement income, even ...

Investors must monitor social mood: Nikko

ELIZABETH MCARTHUR  |  MONDAY, 23 SEP 2019
Nikko investment director in global equities Iain Fulton says investors should be aware of the social mood and the social reputation the companies in their portfolios carry. At an investor briefing in Sydney, Fulton suggested investors look to the art ...

Growing uncertainty sees more advisers outsourcing

ELIZABETH MCARTHUR  |  MONDAY, 23 SEP 2019
Financial advisers are increasingly bearish in their outlook for Aussie equities and uncertain about global equities - resulting in an uptick in outsourcing. New Investment Trends research indicates a strong trend for advisers moving away from being ...

Businesses warned to avoid dud funds

ELIZA BAVIN  |  MONDAY, 23 SEP 2019
Rainmaker research has shown the difference between the best and worst performing super funds can equate to a difference of up to $880,000 in balances for retirees. The research shows the worst performing funds are paying 5.3% return, a big difference ...

Senate secures members' interest changes

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
Insurance in superannuation is now opt-in only for new members under the age of 25 and those with low account balances, after the government's Putting Members' Interests First super reforms passed through the Senate yesterday. The Senate passed ...

Chief economist update: This is a job for the RBA (and the Treasury)

BENJAMIN ONG  |  FRIDAY, 20 SEP 2019
Sub-one percent official cash rate here we come! The Australian dollar's near half a cent drop to US$67.84 on the day immediately following the US Federal Reserve's announced a 25 bp cut in the fed funds rate underscores financial markets' ...

Banks face imminent disruption

ELIZABETH MCARTHUR  |  THURSDAY, 19 SEP 2019
The banks are facing big problems, according to Catherine Wood, chief executive of ARK Invest. Wood was asked at a Nikko Asset Management event how she considered banks to be positioned for the future. "Banks anywhere in the world have a big problem ...