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Billions withdrawn from super

ELIZA BAVIN  |  FRIDAY, 24 APR 2020
... will now begin to release the money. "Those applications are now with the superannuation funds for their payment over the next five days," he said. The Australian Taxation Office said it had received 975,300 registrations of interest for the ERS scheme ...

Morningstar acquires global ESG ratings house

ALLY SELBY  |  FRIDAY, 24 APR 2020
... transaction includes a cash payment of approximately $93.2 million (EUR 55 million), and additional cash payments in the next two years based upon a multiple of Sustainalytics' 2020 and 2021 fiscal year revenues, Morningstar said. The research house ...

The next big short

ALLY SELBY  |  THURSDAY, 23 APR 2020
... before extreme weather events battered the world, before COVID-19, The Big Short 's Michael Burry said he had found the next bubble: passive investments. Now, with asset prices trembling in the face of the pandemic, could there still be a darker ...

Calls for super funds, government to collaborate on energy security

KANIKA SOOD  |  THURSDAY, 23 APR 2020
... later, is yet to publish a report. "The important thing is that it is only a good start, if we look at what we are going to do next." he said. "We need to look at a pathway where we have storage in Australia. We also need to look at Australia's refining ...

Has COVID-19 solved the advice problem?

HARRISON WORLEY  |  THURSDAY, 23 APR 2020
... firm's new digital data collection mechanism, which pushes Xplan data to the client for review and adjustment, ensuring the next meeting between the adviser and client involves updated data. Dillon was at pains to clarify the firm is not planning to ...

Members begin to turn on industry funds

HARRISON WORLEY  |  THURSDAY, 23 APR 2020
... particular is about how many Australians will take up the federal government's $20,000 super fund withdrawal option over the next six months," Levine said. "Industry funds based on employees in hospitality and retail industries are particularly exposed ...

Multi-asset strategies key in COVID-19 crisis: First Sentier

ALLY SELBY  |  THURSDAY, 23 APR 2020
... provide investment returns for real spending in retirement. "While we expect to see low inflation or even deflation in the next few quarters, once we come out on the other side, the amount of stimulus being put into the system could see it emerge as ...

Chief economist update: Thank goodness for Sorbent

BENJAMIN ONG  |  THURSDAY, 23 APR 2020
... toilet paper and pasta and rice and beers, Australian consumers would have much of their essentials taken care of for the next few months, suggesting a sharp decline in retail spending going forward. This is supported and indicated by the deepening pessimism ...

Market pain to continue: State Street

ALLY SELBY  |  WEDNESDAY, 22 APR 2020
... uncertainty has been removed. "With markets reacting to news, we are now getting conditioned to coronavirus updates and should the next leg of the risk move be lower, it is likely to exhibit low volumes and lower volatility than we saw earlier," Choudhury ...

APRA to track ERS payment times

ELIZA BAVIN  |  WEDNESDAY, 22 APR 2020
... data collection to assess the progress and impact of the government's temporary early release of superannuation scheme. From next week, registrable superannuation entity (RSE) licensees will be asked to complete and submit the regulators new Early Release ...