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KPMG foretells open super era

HARRISON WORLEY  |  WEDNESDAY, 16 OCT 2019
The global consulting giant believes developments in open banking could be the boon to solve superannuation's member engagement challenges. In a new report released today, KPMG revealed the future of member engagement in super will closely follow the ...

AFCA gets 1450 complaints a week

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
... the authority had received just over 35,000 complaints. If the complaints keep coming at this pace, AFCA may well receive close to 40,000 complaints for the next half of its first year in operation. An AFCA spokesperson said that the authority has boosted ...

ASX faces challenge on ETF stronghold

KANIKA SOOD  |  TUESDAY, 15 OCT 2019
ASX-listed exchange traded funds have raised close to $56 billion but now its lesser-known rival Chi-X is ready to start listing ETFs, with a Kapstream fund kicking off on it today. Chi-X started off trading small amounts of equities in Australia in ...

Grandfathered commissions ban passes

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
The legislation that will end grandfathered commissions has passed both houses of federal parliament. Under the reforms, the benefit of any conflicted remuneration payable under a contract must be passed on to the client. The Treasury Laws Amendment ...

Chief economist update: Brexit uncertainty is not all that bad

BENJAMIN ONG  |  TUESDAY, 15 OCT 2019
Hear ye, hear ye! Her majesty Queen Elizabeth II has spoken. "My Government's priority has always been to secure the United Kingdom's departure from the European Union on October 31," she has said. Whether her majesty will later come to regret ...

UniSuper appoints chief operating officer

JAMIE WILLIAMSON  |  TUESDAY, 15 OCT 2019
The $80 billion superannuation fund has appointed a former NAB general manager as its first chief operating officer. Kevin Roadnight will join the UniSuper executive team in the newly created role to lead its finance and legal and governance functions. ...

BT Financial Group enlists research provider

ELIZABETH MCARTHUR  |  MONDAY, 14 OCT 2019
... Managed Accounts Survey of financial advisers found that 44% of advice practices using managed accounts are doing so for close to half their client base.

One in three chance of global recession: Aviva

ELIZA BAVIN  |  MONDAY, 14 OCT 2019
... increasingly concerned about the downside risks, it is cautious about the outlook for risk assets. "While many equity markets are close to their all-time high, we think they are fragile and susceptible to further downside news on growth," Aviva said. ...

ETFS Capital backs indexing startup

KANIKA SOOD  |  FRIDAY, 11 OCT 2019
ETFS Capital, chaired by Australian billionaire Graham Tuckwell, made a significant investment in a London indexing startup founded by industry heavyweights last year. Moorgate Benchmarks kicked off last year and aims to provide benchmark solutions ...

mFunds crack $1 billion, PIMCO dominates

KANIKA SOOD  |  FRIDAY, 11 OCT 2019
... Hiscock's ICE fund (SHF02) and Bennelong's ex-20 Aussie equities fund (BAE03). In August, mFunds total assets came close to $1 billion but ended the month at $991 million. By September end, they had crossed the milestone, ASX monthly data shows. ...