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Showing 41 - 50 of 4235 results for "Poor"

Most Australian actively managed funds lag the index

ANDREW MCKEAN  |  WEDNESDAY, 13 SEP 2023
... merged or liquidated over a 15-year span. The S&P Global Australian Persistence Scorecard, released earlier this year, showed poor performance is a key indicator of future fund closures. The report demonstrated that nearly half of actively managed funds ...

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON  |  FRIDAY, 8 SEP 2023
... how trustees are monitoring and merging multiple accounts. That review urged trustees to do better on this front, saying poor practices were causing member detriment. In court documents, ASIC said that between 2019 and 2023, the super fund failed to ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN  |  THURSDAY, 7 SEP 2023
... industry to consider improving the "insufficient rigour" in the processes that ensure remuneration consequences result from poor risk management outcomes. APRA conducted a two-phased review from September 2021 to December 2022 to assess how financial ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
ASIC continues to crack down on providers of contracts for difference (CFD), options and other high-risk products that flout their target market determinations (TMD), and design and distribution obligations (DDO). The newly published Report 770 Design ...

Government must do more after product failures: FSC, SCA

JAMIE WILLIAMSON, RACHEL ALEMBAKIS  |  FRIDAY, 1 SEP 2023
As the likes of Crescent Wealth and Insignia Financial respond to the 2023 superannuation performance test results, the Financial Services Council (FSC) and Super Consumers Australia have said the government must still do more to ensure members in underperforming ...

Magellan performance halves across the board

KARREN VERGARA  |  FRIDAY, 18 AUG 2023
... opportunities, including its FCX platform, a secure DLT-based platform for investors and private companies." Despite the poor results, Magellan chief executive and managing director David George said there are signs of performance improvement, pointing ...

Former advisers costs CBA $1.2bn in remediation

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... insurance products, certain superannuation, and other products. About $673 million was remediated to customers suffering from poor retail and business banking services, as well as package fees, interest, and other fee remediation. CBA said that it continues ...

Are indexes the next target for greenwashing investigations?

RACHEL ALEMBAKIS  |  TUESDAY, 8 AUG 2023
... Authority (FCA) issued a letter to CEOs of index providers, warning them that in the FCA's general view, ESG disclosures are poor. "There were often instances where benchmark administrators did not provide sufficient detail and description of the ...

Commercial property deals stuck at 2011 levels

JAMIE WILLIAMSON  |  THURSDAY, 3 AUG 2023
... 10-year average is 29%. "Acquisitions by offshore investors picked up in the second quarter; an encouraging sign after such a poor start to the year. Where they are deploying capital is interesting as well: they are shying away from offices, which have ...

Trustees to disclose more remuneration details

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
APRA will force superannuation funds to provide more details into how they pay executives, particularly wanting deeper insight into how variable remuneration is rewarded. The prudential regulator has updated Prudential Standard CPS 511 Remuneration ...