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Material weakness in super funds, insurers exposed

KARREN VERGARA  |  THURSDAY, 23 MAY 2019
... responses, including the application of an operational risk capital overlay," he said. He warned APRA's policy agenda for the next 12 months includes strengthening prudential expectations for governance, accountability and culture - as well as focusing ...

Chief economist update: Like Britney Spears, Financial Standard's done it again

BENJAMIN ONG  |  THURSDAY, 23 MAY 2019
... "At the time the forecasts were prepared, market pricing implied that the cash rate was expected to decline to 1% over the next year. If, instead, we had used an assumption of unchanged interest rates, the growth forecast would have been lower and the ...

Industry fund appoints inaugural CIO

KANIKA SOOD  |  WEDNESDAY, 22 MAY 2019
... competition and regulation. We are pleased to expand the capability of our teams to do this and I'm looking forward to the next year as we continue to evolve," Petrou said.

Industry responds to election outcome

ELIZABETH MCARTHUR  |  MONDAY, 20 MAY 2019
... under attack during the election campaign. The AIC argued: "These proposed changes have been consigned to history with the next Labor leader certain to embrace a more modest set of reforms." On the other hand, SMSF Alliance principal David Busoli celebrated ...

Investec closes robo-advice

ELIZABETH MCARTHUR  |  MONDAY, 20 MAY 2019
... fairness." Clients of Click & Invest were written to and informed their investments would have to be moved elsewhere within the next 90 days. The options to existing clients are to sell the investments and withdraw money in cash, transfer to another ...

Super funds to dominate ASX: Research

KARREN VERGARA  |  FRIDAY, 17 MAY 2019
... billion of new money to invest every week and about one third will likely to go towards investing in Australian companies. "The next frontier is how do we get super funds to invest in smaller companies? That is, how do we create channels to enable super ...

Chief economist update: June RBA rate cut not a sure bet

BENJAMIN ONG  |  FRIDAY, 17 MAY 2019
... tell us that. In fact, the financial markets' reaction suggests that the probability of the RBA cutting interest rates next month is more than "54%". The yield on Australian 10-year bonds dropped to a record low 1.65%; the A$/US$ exchange rate depreciated ...

Rainmaker unveils the best wholesale managed funds

KARREN VERGARA  |  THURSDAY, 16 MAY 2019
... retail-based properties. The latest Wholesale Managed Funds Performance report ranked Fidelity China Fund (20.1%) as the next top-performing fund, followed by T. Rowe Price's Global Equity Fund (19.1%), Pendal's MicroCap Opportunities Fund (17.2%) ...

No single solution for advice: CFA

HARRISON WORLEY  |  TUESDAY, 14 MAY 2019
... rewarding ethical practices and decision making. The institute also recommended outlawing grandfathered commissions within the next 12 months. "This allows firms to take a short sunset period to adjust, and customers of financial advice firms to see ...

Morgan Stanley raises capital for 86 400

ELIZABETH MCARTHUR  |  FRIDAY, 10 MAY 2019
... the first three years of operation. We're going to marketplace with a view of bringing on the first shareholders in the next year or so." Bell explained that the aspiring bank has an approved $300 million warehouse facility in place for mortgage ...