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Showing 41 - 50 of 1451 results for "Prudent"

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON  |  FRIDAY, 8 SEP 2023
... honestly and fairly. It also said AustralianSuper didn't "exercise the same degree of care, skill and diligence as a prudent superannuation trustee would have", or "perform its duties and exercise its powers as a superannuation trustee in the best ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN  |  THURSDAY, 7 SEP 2023
APRA has found early signs of change in the remuneration practices of financial services entities in a review of how Prudential Standard CPS 511 has been applied. In a letter to all APRA-regulated entities, the regulator said it was pleased with the ...

Macquarie flags asset management challenges

CASSANDRA BALDINI  |  THURSDAY, 7 SEP 2023
Macquarie Group posted a 3% drop in its private markets assets under management (AUM) to $326.8 billion and said its asset management business will face economic challenges over the short term. In an investor presentation, the group said the drop was ...

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
The Financial Accountability Regime (FAR) passed the upper and lower houses of parliament yesterday, more than four years after it was first introduced. The Financial Accountability Regime Bill 2023 will apply to the banking industry six months after ...

Most trustees pass Canva valuation test: APRA

KARREN VERGARA  |  MONDAY, 4 SEP 2023
Most superannuation funds are appropriately valuing their investments in Canva, according to APRA, which used its high-profile and whipsaw valuation in 2022 to see if they are abiding by its unlisted asset valuation requirements. Canva was at the forefront ...

Australian Ethical hits $9.2bn, focus turns to back-office

ANDREW MCKEAN  |  FRIDAY, 25 AUG 2023
Australian Ethical has reported 48% year-over-year growth in its funds under management (FUM), reaching $9.2 billion due to positive net flows and its successor fund transfer (SFT) with Christian Super. In an ASX announcement, the company reported underlying ...

Iress sells MFA business, reports $140m loss

CASSANDRA BALDINI  |  MONDAY, 21 AUG 2023
... infrastructure, market data and inflationary salary costs." Commenting on the dividend suspension, Price said the board felt it prudent due to the current environment and the ongoing transformation process. "We will conduct a thorough reassessment of ...

Equity Trustees to exit UK, Ireland

ANDREW MCKEAN  |  TUESDAY, 15 AUG 2023
... significantly, leading to increased costs and pricing pressures that require continued investment," O'Brien said. "This is a prudent move for Equity Trustees to ensure its capital is invested across the group where we believe it can generate the ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... George said. "Given the current uncertainty around the Court's judgment and other litigation matters, we are taking a prudent approach with our capital and liquidity and will pause tranche three of the capital return. We will review the decision ...

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 ...