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AMP Capital grows infrastructure team

KARREN VERGARA  |  TUESDAY, 11 JUL 2017
... Pahari commented the appointments reflect AMP Capital going from strength to strength after a successful US$2.4 billion close of the global infrastructure platform at the end of last year, and growing its capabilities in the energy sector.

Government closes super loophole

EMMA RAPAPORT  |  MONDAY, 10 JUL 2017
A loophole which allowed some superannuants to reduce taxation obligations on their superannuation income stream by electing to treat income as a series of lump sum payments has been closed by the Federal Government. The closure, announced on 3 May ...

Looking ahead key to flipping bad money habits

JAMIE WILLIAMSON  |  MONDAY, 10 JUL 2017
About 10% of Australians struggle so much with debt that it directly impacts their wellbeing and UBank believes widespread financial mismanagement is the result of a severe disconnect from our future selves. UBank, NAB's digital-only offering, conducted ...

Steady increase for life insurance premium flows

KARREN VERGARA  |  MONDAY, 10 JUL 2017
Life insurance premium inflows inched 2.1% in the 12 months to March, the latest analysis from Strategic Insight shows. The report, which analyses life insurance across group risk insurance, individual risk lump sum and risk income insurance, found ...

Hawkish central banks? Not the BOJ

BENJAMIN ONG  |  FRIDAY, 7 JUL 2017
... yields on 10-year bonds have risen sharply - US Treasuries were up 23 basis points to 2.37% overnight from 2.14% at the close of the week ended 23 June (before hawkish comments); Eurozone bonds up 31 bps and UK gilts up 28 bps - Japanese JGBs of the ...

FPA professionalism plans garner adviser support

JAMIE WILLIAMSON  |  THURSDAY, 6 JUL 2017
Live polling conducted at the Financial Planning Association of Australia's National Roadshow demonstrates a strong margin of financial advisers support the association's proposals around the forthcoming education and professional standards legislation. ...

IOOF appoints new asset consultant

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2017
... consultant, following Russell's contract with IOOF ending on 30 June. Russell notified IOOF at the end of 2016 of its intention to close its asset consulting business and focus instead on implemented consulting and asset management solutions. IOOF chief ...

Industry fund reduces insurance premiums

EMMA RAPAPORT  |  TUESDAY, 4 JUL 2017
An industry super fund will reduce its insurance premiums by 6% and has pledged to lock the reductions until 2020. From 1 July 2017, Hostplus members will receive at least a 6% reduction to Death and Total and Permanent Disablement (TPD) premiums. Hostplus ...

Fortnum inks advice fintech deal

ALEX BURKE  |  TUESDAY, 4 JUL 2017
Fortnum Financial Advisers is partnering with a provider of real-time data, budgeting and reporting software to augment its client engagement strategy. Under the new partnership, Fortnum will distribute MoneySoft's cashflow and budgeting tool through ...

Insurers held to account with new FSC code

ALEX BURKE  |  MONDAY, 3 JUL 2017
The Financial Services Council rolled out its Life Insurance Code of Practice, along with a new set of standardised medical definitions, on July 1. The new definitions for cancer, heart attack and stroke in trauma and critical illness policies were ...