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Global investment firm adds chair

JAMIE WILLIAMSON  |  TUESDAY, 21 APR 2020
... 1983 and served as co-chief executive following its merger with Standard Life. Gilbert is due to retire from the SLA board next month. Toscafund is a $6 billion multi-asset manager with offices in London, New York and Melbourne. In a statement to Financial ...

Five day deadline tough but workable

ELIZABETH MCARTHUR  |  TUESDAY, 21 APR 2020
... government's plan to allow those suffering financially as a result of COVID-19 to access up to $20,000 of their super over the next two years. However, super funds have resolutely gotten on board with the plan. Bloch said since details of the early release ...

AIOFP launches fresh campaign, criticises FPA

ELIZABETH MCARTHUR  |  TUESDAY, 21 APR 2020
... said "This will come with a message from clients/consumers that government should listen now or they will feel them at the next election." At the start of this year the AIOFP admitted a High Court challenge to stop the banning of grandfathered remuneration ...

The five threats to super fund survival

HARRISON WORLEY  |  MONDAY, 20 APR 2020
... intelligence technologies, and the need to keep up with the sector's never-ending regulatory changes. According to SS&C, the next 12 months will see more super funds move towards hybrid operating models, whereby the fund itself will manage member experience ...

Regal Atlantic fund down 58.6%

KANIKA SOOD  |  MONDAY, 20 APR 2020
... from periods of steep underperformance in the past. In 2008, its returns for the year were -68.21% followed by +191.66% the next year. In 2016, it reported -44.53% followed by +72% the next year.

Citi hires new investment banking head from Deutsche

KANIKA SOOD  |  MONDAY, 20 APR 2020
Citi has appointed a new head of investment banking for Australia and New Zealand from Deutsche Bank Australia, while also announcing new co-heads of local equity capital markets. Alex Cartel was most recently Deutsche Bank Australia's head of investment ...

Millions jobless within weeks: Grattan

HARRISON WORLEY  |  MONDAY, 20 APR 2020
... Grattan also of the belief that the six-month JobKeeper package will obscure much of the rise in unemployment to come over the next few months. Nevertheless, the institute still believes Australia's unemployment rate will rise to between 10 and 15%. ...

US fund manager expands into Australia

ELIZA BAVIN  |  MONDAY, 20 APR 2020
... market in Australia, with more than 30 local investors and over $3.6 billion in funds under management in the space, and the next step in our long-term strategy is to further grow our presence in the local market," Abernethy said. "Jane has over 16 years' ...

Increased customers, incoming crypto: Raiz

ALLY SELBY  |  MONDAY, 20 APR 2020
... despite the current volatility they understand the need to stay in the market, realising this crash may be the precursor of the next bull market," he said.

Should unused services on AFSLs be subject to ASIC levy?

KANIKA SOOD  |  FRIDAY, 17 APR 2020
... the plans did not pan out and for FY18 and FY19, the AFSL reported no activities or revenue and a small balance sheet. The next financial year, the revenues recommenced. Last January, the AFSL received an invoice from ASIC to pay industry funding levy ...