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Active managers must explain value better: Formica

DARREN SNYDER  |  TUESDAY, 3 APR 2018
The co-chief executive at a $484 billion (US$370bn) global asset manager believes the industry can take lessons from Shrek and vacuum manufacturers to improve storytelling and customer service. Speaking at a media lunch in Sydney last week, Janus Henderson ...

Prime Value appoints new portfolio manager

ALEX BURKE  |  TUESDAY, 3 APR 2018
A former portfolio manager at Contango Asset Management is taking on a new role at Prime Value Asset Management. Richard Ivers joins Prime Value's Australian equities team as a portfolio manager. He will also be responsible for managing Prime Value's ...

Less than half of all super funds are gaining new members

ALEX DUNNIN  |  THURSDAY, 29 MAR 2018
APRA released its 2017 superannuation fund level statistics and it shows that of the 170 funds included in their report, less than half experienced growth in net new membership. Reinforcing the growing dominance of not-for-profit super funds, they accounted ...

Super Plus switches to SMSF fintech

KANIKA SOOD  |  THURSDAY, 29 MAR 2018
... shift to Mclowd is a no-brainer," Super Plus managing director Phillip Whiteley said. Mclowd, which says it now manages close to $1 billion in superannuation assets on its SMSF accounting platform, says its offering is based on decentralised and scalable ...

Managed accounts climb to $57bn

ALEX DUNNIN  |  TUESDAY, 27 MAR 2018
The managed accounts sector climbed 46% last year to reach $57 billion by December 2017, according to the latest Institute of Managed Account Professionals market census. The results show that managed accounts are growing three times faster than other ...

Chief economist update: The euro's doing Trump's work in the Eurozone

BENJAMIN ONG  |  TUESDAY, 27 MAR 2018
... said that while the central bank remains confident that inflation would eventually rise to the ECB's target of "below but close 2% over the medium term"... "there are still two risks to the outlook that could - if they intensify - conspire to reduce ...

OneVue sells SMSF admin business

ALEX BURKE  |  MONDAY, 26 MAR 2018
OneVue has sold its self-managed superannuation administration business. The business was acquired by AMP, via SuperConcepts. SuperConcepts chief executive Natasha Fenech said the acquisition is "consistent with our growth strategy, building the scale ...

ASIC closes doors on Storm charges with two fines

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... retired, with limited assets and income - was "inappropriate to their personal circumstances." ASIC said the fines draw to a close its Storm litigation, "which has included investors receiving compensation in relation to losses suffered on investments ...

CommInsure launches digital claims for super funds

KANIKA SOOD  |  FRIDAY, 23 MAR 2018
CommInsure will now offer digital claims for its institutional partners, joining other insurers digitising their claims process. CommInsure says the digitization will be end-to-end, covering all aspects of the claim process. "We listened closely to ...

Challenger chief becomes FSC deputy chair

ALEX BURKE  |  THURSDAY, 22 MAR 2018
Challenger chief executive Brian Benari has taken on a role on the board of the Financial Services Council. Benari will become the FSC's co-deputy chair, alongside BT Financial Group chief executive Brad Cooper. Benari said: "I'm pleased to take on ...