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Showing 331 - 340 of 5906 results for "March 6"

Multiple account bungle costs AustralianSuper $27m

KARREN VERGARA  |  FRIDAY, 21 FEB 2025
The Federal Court today slapped AustralianSuper with a $27 million fine for dragging its feet on a multiple account bungle that lasted more than four years. Judge Hespe found that AustralianSuper failed to promptly identify and merge members' multiple ...

Magellan sees profit fall 10%

ELIZA BAVIN  |  THURSDAY, 20 FEB 2025
Magellan Financial Group (MFG) saw net profit down 10% to $94 million in the half year to 31 December 2024. Assets under management remained steady at $38.6 billon, and performance fees rose slightly from $6 million to $6.1 million. Magellan declared ...

Convicted adviser fails to appeal prison sentence

MATTHEW WAI  |  THURSDAY, 20 FEB 2025
Former Melbourne financial adviser Bradley Grimm will continue to serve his sentence after failing to have his dishonesty conviction and prison term overturned. Grimm pleaded guilty to three counts of engaging in dishonest conduct whilst running a financial ...

HUB24 engulfs ClearView's remaining superannuation business

KARREN VERGARA  |  WEDNESDAY, 19 FEB 2025
HUB24 expects its $121 billion in funds under administration (FUA) to surge even further as it takes on ClearView's superannuation and pension business, WealthFoundations. WealthFoundations will bring $1.3 billion in FUA via a successor fund transfer ...

RBA delivers 'cautious' cut, road ahead unclear

ELIZA BAVIN  |  WEDNESDAY, 19 FEB 2025
The Reserve Bank of Australia (RBA) cut the cash rate by 25 basis points, bringing the official interest rate down to 4.1%. While the cut was widely expected, the RBA was quick to diffuse any hopes of a quick cutting cycle. "A range of indicators suggest ...

Foreign investors banned from buying homes

ELIZA BAVIN  |  MONDAY, 17 FEB 2025
The Albanese government has announced it will ban foreign investors from buying established homes for at least two years and crack down on foreign land banking. Treasurer Jim Chalmers said the move is aimed at easing pressure on the Australian housing ...

GQG records US$1.7bn net flows in January

MATTHEW WAI  |  MONDAY, 17 FEB 2025
GQG Partners has recorded US$1.7 billion net flows in January, bringing its total funds under management to US$160.4 billion. The firm recorded US$20.2 billion net flows throughout last year, nearly doubling its net flows of US$10.2 billion in 2023. ...

Australian Retirement Trust, Qantas Super set merger date

ELIZA BAVIN  |  FRIDAY, 14 FEB 2025
Australian Retirement Trust (ART) has signed a Successor Fund Transfer Deed (SFT) with Qantas Super to progress its merger, scheduled to complete on 29 March 2025. ART chief executive David Anderson said the merger completion will deliver benefits to ...

ASX reports 'record' revenue for 1H25, lags in listings

MATTHEW WAI  |  THURSDAY, 13 FEB 2025
The Australian Securities Exchange (ASX) has reported record operating revenue for its half-year result ending 31 December 2024. Following a turnaround year, the exchange saw its operating revenue surge 5.9% to $541.9 million from the previous corresponding ...

SG Hiscock, Ruffer shutter funds

KARREN VERGARA  |  THURSDAY, 13 FEB 2025
Two funds managed by SG Hiscock (SGH) and Ruffer have closed due to lack of investor interest. The SGH Ex-20 Australian Equities Fund was terminated on February 3 for failing to reach its required scale and retain and attract the desired number of investors. ...