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Chief economist update: RBA May cut, May not

BENJAMIN ONG  |  FRIDAY, 3 MAY 2019
... employment in Australia; and the economic prosperity and welfare of the people of Australia." In discerning the RBA's next move, we must look at what it saw at its last meeting and if anything has significantly changed since. "The outlook for the ...

Pendal profits plunge, advisers remain positive

KANIKA SOOD  |  THURSDAY, 2 MAY 2019
... Gonzalez also announced plans for Pendal to move towards its own middle office and back office external relationships over the next two or three years. "We are still receiving those services through Westpac. We will be looking for HR, custody, registry ...

What will super funds get from the ASX CHESS replacement?

KANIKA SOOD  |  THURSDAY, 2 MAY 2019
... cost. I imagine that this infrastructure will create value by providing a platform for better products and services for the next decade or more, in addition to lowering risks and costs." In dollar figures, a 1% benefit on super funds' ASX settling ...

Industry funds announce $26bn joint venture

KANIKA SOOD  |  WEDNESDAY, 1 MAY 2019
... drive four to six basis points in savings for the members, he says. "We are in loose discussions with other funds. Over the next 12 to 18 months, we want to make sure we are very attractive to other superannuation funds who are committed to a skills-based ...

Admin change leaves super fund members in the dark

KARREN VERGARA  |  WEDNESDAY, 1 MAY 2019
... operational, we will be communicating with all members to explain the registration process. This communication will start next week. "While online access might be limited, our services are operational as usual and we are processing member requests as ...

HSBC appoints new custody business lead

ELIZABETH MCARTHUR  |  WEDNESDAY, 1 MAY 2019
... management and sales, and as head of investment analytics. In his new role, Cotroneo will be responsible for driving the next phase of development in HSBC's securities services business and leveraging its significant share of the local custody market. ...

Former Labor senator joins Sargon

HARRISON WORLEY  |  TUESDAY, 30 APR 2019
... appointed to Sargon's board. Stephen Conroy has joined as a non-executive director at Sargon, as the firm embarks on its next growth phase. Commenting on Conroy's appointment, Sargon chief executive Phillip Kingston said the experiences of the former ...

Aon exits advice

HARRISON WORLEY  |  TUESDAY, 30 APR 2019
... global financial services giant announced it will sell its finance advice arm and exit its aligned adviser channel in the next few months, in what it described as a "phased approach." In a media statement, Aon confirmed Aon Hewitt Financial Advice (AHFA) ...

Retirees to fall short: Research

HARRISON WORLEY  |  MONDAY, 29 APR 2019
... sustain themselves. According to the latest findings from Roy Morgan, almost half a million Australians intend to retire in the next 12 months - a 6% increase on 2018. However, the research shows intending retirees have average growth wealth of just ...

Future Fund crosses $150 billion

KANIKA SOOD  |  MONDAY, 29 APR 2019
The sovereign wealth fund has crossed $150 billion in assets after a strong quarter, as it readies to pitch in to the next Federal budget. The Future Fund returned 5% over the quarter to March end, taking its decade-long performance to 10.4% - 3.9% ...