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Kapstream cuts fees on flagship fund

KANIKA SOOD  |  WEDNESDAY, 11 SEP 2019
... funds under management across its strategies. Separately, co-founder Kumar Palghat announced his plans to retire in April next year.

Calls to give ASIC power to repair reputations

ELIZA BAVIN  |  WEDNESDAY, 11 SEP 2019
... evidence," Crutchfield said, speaking at the Turnaround Management Associated conference in Melbourne. "The reporting the next day of a person's name in association with damaging question or submission can have lethal consequences," he said. Crutchfield ...

Chief economist update: Fed has Trump's trade war number

BENJAMIN ONG  |  MONDAY, 9 SEP 2019
... investment and production. They concluded that globally and in the United States, its impact is around 1% to GDP... through early next year. With U.S. GDP estimated at about $20 trillion, and world GDP at about $85 trillion, a 1% impact would put the ...

Industry super fund headcounts to swell

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2019
... professionals based in Melbourne should have no trouble finding job opportunities with industry superannuation funds over the next 12 months, according to recruitment experts. According to Kaizen Recruitment, the current job climate remains positive ...

Adviser cops 262 month jail sentence

JAMIE WILLIAMSON  |  FRIDAY, 6 SEP 2019
A financial adviser in the US will spend the next 22 years in prison after he defrauded his own family out of millions. Treyton Lee Thomas has been sentenced to 262 months in prison for wire fraud and 60 months for tax evasion to run concurrently, as ...

Time to reset member return expectations?

HARRISON WORLEY  |  FRIDAY, 6 SEP 2019
... have fallen. Consequently, we have had ten years of strong returns which have been great for all members. But what of the next 10 years?" With past performance no reliable indicator of a fund's future performance, Rice Warner noted "the best members ...

Boutique AFSL acquires advice practice

JAMIE WILLIAMSON  |  THURSDAY, 5 SEP 2019
... Profile said. Explaining the decision to join the Profile business, Igor said: "It's time to start looking forward to the next chapter of my life - I'm not getting any younger." "We were in the final stages of negotiation when our previous licensee ...

Intra-fund advice must improve: Rice Warner

HARRISON WORLEY  |  WEDNESDAY, 4 SEP 2019
... ASIC's MoneySmart calculator instead, losing the opportunity to engage their members," Rice Warner said. It warned the next 12 months pose an opportunity for the super industry to finally begin delivering advice for members approaching retirement ...

Buyback ensures Aussie ownership

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 SEP 2019
... 19.98%. The buyback represents 5.1% of the company's issued share capital and will be subject to shareholder approval at its next executive general meeting. M&C has also sold 12.5 million Moelis shares at $3.40 a share to public market investors and ...

Northern Trust hires from State Street

KANIKA SOOD  |  TUESDAY, 3 SEP 2019
... on two or three of Australia's ten largest superannuation funds as a client for the integrated trading system in the next three years.