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One in three chance of global recession: Aviva

ELIZA BAVIN  |  MONDAY, 14 OCT 2019
Aviva Investors has warned of a one in three chance of a global recession next year, saying the trade and manufacturing sector is already at recessionary levels. The global asset manager outlines in its report that it expects global growth to remain ...

Chief economist update: When QE is not QE

BENJAMIN ONG  |  MONDAY, 14 OCT 2019
... [October 15] to mid-November" before adjusting the timing and amount of T-bill purchases "at least into the second quarter of next year to maintain over time ample reserve balances at or above the level that prevailed in early September 2019." Quantitative ...

Chief investment officer leaves industry fund

HARRISON WORLEY  |  FRIDAY, 11 OCT 2019
The chief investment officer of a $4 billion industry superannuation fund has departed. legalsuper will next week begin the search for a new chief investment officer, after Edward Smith left the role in late September. legalsuper confirmed Smith's ...

BlackRock Australia rejigs multi-asset range

KANIKA SOOD  |  THURSDAY, 10 OCT 2019
... stable and growth versions. They now have about $540 million in assets and are used by over 1000 Australian advisers. Starting next month, the portfolios for both funds will be screened for ESG factors, said David Griffith, BlackRock's head of investment ...

Volcker Rule tweak gets green light

KANIKA SOOD  |  THURSDAY, 10 OCT 2019
... while providing greater clarity and certainty for activities allowed under the law." The rules come into effect on January 1 next year and have a compliance date of 1 January 2021. The five agencies whose approval was needed include: Federal Reserve ...

Chief economist update: Negative bang for RBA, government's buck

BENJAMIN ONG  |  THURSDAY, 10 OCT 2019
... which shows: Family finances versus a year ago dropped to 80.2 in October from 84.3 in the previous month; family finances next 12 months (93.3 from 96.9); economic conditions next 12 months (87.1 from 92.6); economic conditions next five years (88.9 ...

State Super to sponsor retirement income research

HARRISON WORLEY  |  WEDNESDAY, 9 OCT 2019
... future of pensions in the public sector and what this means for attracting and retaining talent," Livanas said. "Over the next decade, we will face challenges with a changing membership profile, reduced inflows and anticipated regulatory changes. "The ...

Standard Life Aberdeen chair steps down

ELIZABETH MCARTHUR  |  TUESDAY, 8 OCT 2019
... Standard Life Aberdeen board. Martin Gilbert advised he will not seek re-election at the company's annual general meeting in May next year and agreed with the board he will retire at the end of September 2020. Commenting on the move, which comes after ...

Investors deluded on returns

ELIZABETH MCARTHUR  |  FRIDAY, 4 OCT 2019
... of the S&P 500 since 1957 is less than 8%. Investors also indicated they would like to receive an income of 10.7% over the next year but expect to receive 10.3%. In Australia, income expectations were even higher. Australian investors would like 11.5% ...

Legg Mason expands Asia Pacific role

ELIZA BAVIN  |  THURSDAY, 3 OCT 2019
... Lim is set to retire in March 2020 after 12 years and he will be transitioning his duties to Sowerby over the course of the next few months. "Lennie has been instrumental in establishing many of our business relationships in Asia and we would like to ...