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Showing 401 - 410 of 1952 results for "Default"

Banks brace for major loan losses

ALLY SELBY  |  WEDNESDAY, 15 JUL 2020
Three of the United States' biggest banks have set aside approximately $40 billion (US$28 billion) to brace for COVID-19 related loan losses, as Wells Fargo posts its first quarterly loss since the Global Financial Crisis. Citigroup saw its net income ...

AustralianSuper PYS fee under scrutiny again

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 JUL 2020
... undertaking following the Royal Commission on "inducements" and how super funds entice businesses to choose them as a default fund for employees. "There has been law reform around inducements and we have been discussing with funds what those law reforms ...

Cbus, Media Super start due diligence

KANIKA SOOD  |  THURSDAY, 9 JUL 2020
... but the merger will be a significant addition in scale for Media Super. On a three-year basis to April end, Cbus's default option is the 11th best performer with 5% p.a. in returns while Media Super is the seventh best with 5.2% p.a, according to ...

Industry fund eyes KiwiSaver accounts

KANIKA SOOD  |  THURSDAY, 2 JUL 2020
... have been working through the many regulatory changes," Watson said. According to the APRA heat map, First Super's default option's total fees fell from 1.64% at November, 2019 for a $50,000 account balance, to 1.19% at May, 2020 for the same ...

Cbus, Media Super explore merger

KANIKA SOOD  |  THURSDAY, 25 JUN 2020
... but the merger will be a significant addition in scale for Media Super. On a three-year basis to April end, Cbus's default option is the 11th best performer with 5% p.a. in returns while Media Super is the seventh best with 5.2% p.a, according to ...

Industry fund in successor fund transfer

JAMIE WILLIAMSON  |  WEDNESDAY, 17 JUN 2020
... the preferred fund as it can also provide sub-plans and separate identities for those sub-plans and continued existing default insurance cover through Hannover Re. Speaking to Financial Standard, OneVue executive general manager, superannuation administration ...

Public super fund rejigs offering

KANIKA SOOD  |  WEDNESDAY, 17 JUN 2020
... continue being members of the fund, provided they served for at least 12 continuous months. As a result, the fund has added default insurance cover for death and total permanent disability (TPD) cover for members who meet four conditions: discharged ...

AustralianSuper gives Rio Tinto slap on the wrist

ELIZABETH MCARTHUR  |  WEDNESDAY, 17 JUN 2020
... member direct options. The majority, 79% or $715 million, of that holding comes from member money in AustralianSuper's default MySuper investment option. The mining giant is the fund's 10th largest Australian equities holding. "We've had ...

Super consolidation to slash 60% of funds

HARRISON WORLEY  |  TUESDAY, 9 JUN 2020
... costs and performance, the impending implementation of the Financial Accountability Regime and ongoing discussions about default arrangements and enhanced prudential oversight. "Other issues include demographic shifts and changing customer preferences ...

Senator criticises lazy super system

JAMIE WILLIAMSON  |  FRIDAY, 5 JUN 2020
... "The problem with best-in-show is that it's a little bit complicated to explain. It was one solution to changing the default mechanism, but I think that there are other ways and other things we should consider when we look at changing default too," ...