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Fiducian continues growth trajectory

JAMIE WILLIAMSON  |  FRIDAY, 17 AUG 2018
Fiducian Group has reported a 21% rise in underlying net profit and a $1 billion lift in funds under management, administration and advice. Releasing its full year results today, Fiducian recorded $10.5 million in UNPAT and an 18% increase in FUMAA ...

Chief economist update: Don't mind the gap

BENJAMIN ONG  |  FRIDAY, 17 AUG 2018
Hear ye, hear ye... the unemployment gap has closed! The loss of 3900 workers (versus expectations for a 15,000 addition) may have made for sobering reading on the Australian labour market but this was a small give from the 58,200 additional workers ...

Swiss asset manager eyes Aussie instos

KANIKA SOOD  |  THURSDAY, 16 AUG 2018
A Swiss asset manager is offering two new sustainable infrastructure strategies with a combined capacity of about $1.7 billion to Australian institutional investors as it builds out its APAC presence. SUSI Partners currently has about $1.4 billion in ...

CFS and a messy MySuper transition

KANIKA SOOD  |  TUESDAY, 14 AUG 2018
Colonial First State's messy MySuper transition came under the Royal Commission's lens on Tuesday. Taking the witness box, Colonial First State executive general manager Linda Elkins told the Commission CFS initially failed to transition 13,000 members ...

Commitment to ethical investing booms

KARREN VERGARA  |  THURSDAY, 9 AUG 2018
... majority of professionally managed funds in Australia are committed to responsible and ethical investments - a market that is close to approaching $1 trillion. Joint research from KPMG and Responsible Investment Association Australasia (RIAA) shows $866 ...

AMP wealth arm leaked $873 million in first half

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
AMP's wealth management arm, which includes its superannuation and platform products, saw net outflows of $873 million in the first half of 2018. By comparison, it had recorded net inflows of more than $1 billion in first half of last year. AMP's North ...

Limited MDA deadline closes in

KARREN VERGARA  |  WEDNESDAY, 8 AUG 2018
Financial advisers operating under a limited managed discretionary account should have made other formal arrangements by now, but the truth is many are still lagging behind, according to IMAP chair Toby Potter. With the limited MDA changes taking effect ...

Equity Trustees responds to GAM suspension

JAMIE WILLIAMSON  |  TUESDAY, 7 AUG 2018
Equity Trustees halted applications into and redemptions from two GAM Investments funds following the suspension of the global manager's fixed income investment director. In a letter to unitholders, Equity Trustees - as responsible entity for the ...

MetLife revamps relationship management and underwriting teams

KARREN VERGARA  |  TUESDAY, 7 AUG 2018
MetLife Australia made several senior appointments to its relationship management and underwriting teams. Rachel Towell and Stuart White are the latest to join the life insurer as state managers for New South Wales and ACT, and Queensland respectively. ...

Chief economist update: Do nothing RBA

BENJAMIN ONG  |  TUESDAY, 7 AUG 2018
... always wait, wait, wait until you have perfect certainty." Then again, the US and UK labour markets are operating at or close to full capacity with 3.9% and 4% unemployment rate, respectively. Australia's still trying to get there and a premature ...