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Showing 441 - 450 of 2181 results for "Financial Year"

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... the Relevant Period at an inflated price," court documents show. AMP closed its books on the first half of 2023 financial year provisioning $50 million for the buyer of last resort class action. It is fighting two other legacy class actions that it says ...

Magellan performance halves across the board

KARREN VERGARA  |  FRIDAY, 18 AUG 2023
... profit drastically decline, its investments in Barrenjoey Capital Partners and FinClear also took a toll on its 2023 financial year performance. The group's average funds under management almost halved to $48.8 billion as outflows continued across ...

ASIC appeal in CBA, CFS case dismissed

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
... online. Under an agreement, CBA was entitled to 30% of the total net revenue derived by CFS from the product every financial year. In total, this amounted to about $22.7 million over nine payments. ASIC alleged CBA and CFS breached conflicted remuneration ...

ASX profits hit by CHESS setbacks, acts on review findings

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
... to $317.3 million, largely weighed down by hefty CHESS replacement costs. The securities exchange finished the financial year with an underlying net profit after tax (NPAT) of $491.1 million, marking a 3.4% decline. ASX chair Damian Roche said the last ...

Netwealth gears up to relaunch Core, market share expands

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... record funds under administration (FUA) of $70.3 billion in FY23, representing a 26.3% increase on the previous financial year. In an ASX announcement, Netwealth disclosed FUA net inflows of $9.9 billion, a reduction of $3.1 billion from FY22. The company ...

Institutional investor pumps $750m into Qualitas fund

CHLOE WALKER  |  WEDNESDAY, 16 AUG 2023
... development preparation and execution process," he said. Schwartz said the additional dry powder heading into a new financial year allows Qualitas to take advantage of further dislocation in the CRE credit market. "We continue to be cautious in deployment ...

Challenger Life books record annuity sales

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
Challenger Life reaped the benefits of regulatory reforms in the 2023 financial year and a greying population as retail and institutional investors alike increasingly turn to retirement income products. Annuity sales stemming from the domestic retail ...

Fiducian eyes IFAs, South Australia for inflows

KARREN VERGARA  |  MONDAY, 14 AUG 2023
... Australian presence to bolster its inflows as it sets an ambitious plan to exceed its performance reported in the 2023 financial year. The ASX-listed group's latest full-year results saw net inflows of $265 million out of the total $364 million came ...

AustralianSuper bungle underpays some Choice members

KARREN VERGARA  |  THURSDAY, 10 AUG 2023
... members avoid extra fees" and that it failed to identify all instances of multiple member accounts. In the 2023 financial year, the $300 billion super fund delivered 8.22% for its balanced investment option. It recently made several senior appointments ...

Former advisers costs CBA $1.2bn in remediation

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... the full-year financial results show. The total customer remediation amounted to a huge $2.6 billion in the 2023 financial year, of which the lion's share related to its historical aligned adviser network. The former aligned advisers were representative ...