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Stakeholders ask ASIC for tougher private markets regulation

KARREN VERGARA  |  WEDNESDAY, 4 JUN 2025
ASIC is facing growing pressure to up the ante on regulating private markets, particularly private credit, as key stakeholders fear offerings are becoming increasingly accessible to retail investors. In response to the inaugural discussion paper that ...

Australia's billionaire boom branded 'morally wrong' by Oxfam

ANDREW MCKEAN  |  TUESDAY, 3 JUN 2025
The ranks of Australian billionaires have more than doubled over the past decade, accumulating wealth at $137 million per day on average - $95,000 per minute, according to Oxfam Australia. Its acting chief executive Christina Muli described this as ...

Touchstone closes flagship fund

KARREN VERGARA  |  TUESDAY, 3 JUN 2025
... the fund's viability was in question due to low funds under management and it was in investors' best interests to close the fund." Touchstone, however, continues to actively manage more than $1 billion of Australian equities for direct, advised ...

Perpetual promotes two to strengthen fixed income team

MATTHEW WAI  |  TUESDAY, 3 JUN 2025
Perpetual has named a new head of credit and fixed income, and a deputy portfolio manager of its flagship trust. Vivek Prabhu has taken over the reins as head of credit and fixed income, extending his 20-year tenure at the organisation. The announcement ...

Superhero plans 'mass affluent' wealth play

JAMIE WILLIAMSON  |  MONDAY, 2 JUN 2025
... unsolved challenges in our space. We haven't seen anyone truly crack the nut on it yet, but we think we're pretty close. Our goal is to make it accessible, understandable, and affordable for the mass market." Superhero has added three other senior ...

Dai-ichi Life acquires 15% of M&G

JAMIE WILLIAMSON  |  MONDAY, 2 JUN 2025
Dai-ichi Life HD, which owns TAL, will acquire 15% of British asset manager M&G, with the two establishing a long-term strategic partnership across asset management and life insurance. Under the partnership, which is expected to produce at least US$6 ...

BlackRock hires Housing Australia treasury chief

ELIZABETH FRY  |  THURSDAY, 29 MAY 2025
BlackRock's new head of fixed-income and credit product strategy has returned to funds management after taking on key roles at Housing Australia, New South Wales Treasury, and TCorp. Katherine Palmer brings over 12 years of government balance sheet ...

Quality over quantity: CareSuper on mergers

JAMIE WILLIAMSON  |  THURSDAY, 29 MAY 2025
... certainly challenging for those smaller funds." Established in 1981, with less than 17,000 members MIESF has long focused on its close connection with its membership - something CareSuper is confident it can continue. "What we've been proud of is ...

ASIC sues former director of crypto platform owing nearly $60m

MATTHEW WAI  |  THURSDAY, 29 MAY 2025
... funds or cryptocurrency from their accounts - the liquidator, appointed on 11 February 2022, estimated the company owes close $60 million, about $20 million of which is owed to former customers of the exchange. ASIC has commenced civil penalty proceedings ...

ASIC tells super: 'You have everything you need to not fail'

ELIZA BAVIN  |  WEDNESDAY, 28 MAY 2025
... we'll announce more in that regard soon." Constant said the regulator has been investigating claims handling delays for close to two years now, but in the process has also identified a wider range of issues affecting member services, including issues ...