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Times of turmoil create opportunities: deVere

ALLY SELBY  |  WEDNESDAY, 25 MAR 2020
... global economy amid the pandemic. Despite short-term growth being damaged, Morningstar predicts a global economic recovery next year. "We expect near-term impact to be savage, shaving off 2 percentage points from global GDP growth," it said. "However ...

IMAP not anticipating regulatory overhaul

ELIZA BAVIN  |  WEDNESDAY, 25 MAR 2020
... said that he believes it is unlikely the regulator will move to take regulatory action in the MDA space at least over the next six to 12 months. "ASIC had already said in the event of regulatory change there would be a consultation paper, consultation ...

The impact of COVID-19 on emerging markets

ALLY SELBY  |  TUESDAY, 24 MAR 2020
... is going to be so key across all markets and the credit market is also key to look out for, in terms of what we should do next." However, the risk of a second derivative or reinfection in China could lead to opportunities in other emerging markets, Patel ...

COVID-19 to hasten merger talks

HARRISON WORLEY  |  TUESDAY, 24 MAR 2020
... Members can continue to draw pensions from cash and not panic about the fall in the rest of their portfolio at least for the next six-12 months," the firm said. "We might find the normal frugality of retirees tightened further due to increased uncert ...

Early release to bite retirement hard

KANIKA SOOD  |  TUESDAY, 24 MAR 2020
... If this person was to avail the $10,000 release twice (as is permitted by the government for this financial year and the next), this person would be $78,952 worse off in retirement as their end balance slips to $355,357. The modelling shows while the ...

Calls for super release to borrow from RBA

ALLY SELBY  |  TUESDAY, 24 MAR 2020
... Scott Morrison's proposal to allow Australians financially impacted by the coronavirus to withdraw up to $20,000 over the next two financial years from their superannuation balances, in the case they find themselves out of work or lose 20% of their ...

EY appoints wealth, asset management leader

ELIZABETH MCARTHUR  |  TUESDAY, 24 MAR 2020
... leading the EY team in order to help our clients continue to grow as they navigate this new environment and prepare for the next wave of change in the sector," Da Silva said.

Industry fund boss exits

HARRISON WORLEY  |  TUESDAY, 24 MAR 2020
... on April 6, after more than seven years with the industry super fund. Russell will transition away from the fund over the next few months, staying on as a strategic adviser until July 1, to help smooth the leadership transition. His role will be filled ...

APRA heat map update in doubt

HARRISON WORLEY  |  MONDAY, 23 MAR 2020
... APRA said. APRA chair Wayne Byres said it was more important for regulated entities to focus on the current crisis than the next tranche of regulatory work, given the difficult period ahead of the financial services industry, and the work APRA had done ...

Early release better than SG freeze

KANIKA SOOD  |  MONDAY, 23 MAR 2020
... Minister Scott Morrison yesterday announced Australians will be able to withdraw up to $10,000 from their superannuation for the next two financial years if they have lost a job or 20% of their income, as COVID-19 knocks down economic activity. The Treasury ...