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Magellan renews fund administrator

KANIKA SOOD  |  WEDNESDAY, 26 JUN 2019
... years. Mainstream has provided administration services to Magellan since 2007. Magellan has extended the contract for the next five years with an automatic renewal for the five years after that. As a part of the agreement, Mainstream will provide fund ...

Australian Ethical chief executive to depart

ELIZABETH MCARTHUR  |  WEDNESDAY, 26 JUN 2019
... "After nine years at the helm I feel now is the right time to hand over to fresh leadership to take Australian Ethical to the next level. "I leave the business in the hands of a very strong team who are perfectly positioned to help the growing number ...

Chief economist update: ECB to leave no policy tool unturned

BENJAMIN ONG  |  WEDNESDAY, 26 JUN 2019
... remain part of our tools." Draghi's statement was later echoed by ECB governing council member Olli Rehn - touted as the next ECB head when Draghi steps down in October - ""We in the Governing Council are ready to act as appropriate unless there ...

Fund manager insto lead exits

JAMIE WILLIAMSON  |  FRIDAY, 21 JUN 2019
... for just over 12 months, having joined the fund manager in February 2018. According to her LinkedIn, Carter is "seeking the next challenge". Prior to Ellerston, Carter was a project manager at HESTA, contributing to its investment strategy review. She ...

Record number of tax evasion reports

ELIZABETH MCARTHUR  |  FRIDAY, 21 JUN 2019
... under reported income and the cash economy, non-lodgement and inadequate or no super paid and overstating expenses were the next most common tip offs. Assistant commissioner Peter Holt said the upward trend in the volume of referrals about people suspected ...

Fidelity launches new rating system

ELIZABETH MCARTHUR  |  THURSDAY, 20 JUN 2019
... because of its ongoing engagement with management teams. "Building this proprietary sustainability ratings tool was a natural next step that matches our bottom-up fundamental research process and draws on our deep corporate access," Dropkin added. Fidelity ...

Facebook to launch own currency

HARRISON WORLEY  |  WEDNESDAY, 19 JUN 2019
... product of its new financial services subsidiary Calibra - would be available in Messenger, WhatsApp and as a standalone app next year, and will allow users to send Libra to "almost anyone with a smartphone". Facebook likened a Libra transfer to sending ...

Will financial advisers cease to exist?

JAMIE WILLIAMSON  |  TUESDAY, 18 JUN 2019
... skillset to be a financial adviser evolving, about 54% of advisers around the world believe their role will change in the next five to 10 years while 4% believe it will cease to exist, the Future Investment Professional report states. The report surveyed ...

Industry fund appoints deputy CIO

ELIZABETH MCARTHUR  |  TUESDAY, 18 JUN 2019
... included equities, debt and absolute return strategies. As deputy chief investment officer Chatfield will now focus on the next stage of the fund's investment strategy, including the roll out of additional internal strategies. He will support chief investment ...

Chief economist update: Another RBA rate cut should be enough

BENJAMIN ONG  |  MONDAY, 17 JUN 2019
... to 1.25% handed this month with not one, not two but three more rate reductions - two this year to 0.75% and one by June next year to 0.5%. Yes Virginia, you, I and Irene would dump the A$ too given these expectations. But just as we've proven the ...