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UK pension fund fossil fuel investments laid bare

JAMIE WILLIAMSON  |  THURSDAY, 25 FEB 2021
... of the Earth divestment campaigner Rianna Gargiulo said. Local authorities have the power and duty to ensure local workers not only have a pension for their retirement, but also a future worth retiring into, she added. "Instead of stubbornly sticking ...

Public sector super satisfaction rises

ANNABELLE DICKSON  |  WEDNESDAY, 24 FEB 2021
... Roy Morgan chief executive Michele Levine said 2020 was the year that sparked member interest in their superannuation. "It's not surprising to see public sector fund members the most satisfied - some members have the security of now phased-out defined ...

Vanguard finds dirty assets in ESG fund

KANIKA SOOD  |  WEDNESDAY, 24 FEB 2021
... related screens based on severe controversies. Or so investors were told. Last week, Vanguard informed them that that MSCI was not screening all holdings in the fund, but just the public companies. This means governments or unlisted companies were left ...

ASIC extends olive branch to inside traders

KANIKA SOOD  |  WEDNESDAY, 24 FEB 2021
... criteria and reports the misconduct to ASIC prior to commencement of an investigation into the conduct. "Individuals who do not meet the criteria for immunity are still encouraged to cooperate with ASIC and will be given due credit for any cooperation ...

Australian Ethical continues growth trajectory

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 FEB 2021
... investment philosophy as Australians seek to do more with their money than just generate competitive financial returns, now is not a time to sit on our laurels." He added that despite Australian Ethical's strong performance, the pandemic does still present ...

JANA awarded mandate

ANNABELLE DICKSON  |  WEDNESDAY, 24 FEB 2021
... three-way tender process in January 2021 and follows growth in JANA's investment advisory offering across insurance, retail and not-for-profit space. JANA head of insurance strategy Greg Wilkinson said the firm is impressed with TUH's strong member-centric ...

Crypto chosen over defensive assets

ANNABELLE DICKSON  |  WEDNESDAY, 24 FEB 2021
... investors hold Bitcoin, followed by Ethereum (42.6%), Litecoin (18%) and one in five hold other cryptocurrencies that were not listed. Of Bitcoin investors, a quarter hold it for three to six months while 25.8% hold the asset for one to three years and ...

Chief economist update: Wall Street can't have its cake and eat it

BENJAMIN ONG  |  WEDNESDAY, 24 FEB 2021
... addition, the US unemployment rate which stood at 6.3% as at January 2021 remains far above the 50-year low 3.5% before covid-19, not enough to put upward pressure on wages and, by extension, inflation. Throwing so much greenbacks at the pandemic problem ...

SMSFs given small LRBA win

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
Self-managed super funds that borrowed from a private company under a limited recourse borrowing arrangement (LRBA) will not suffer adverse tax consequences if the loan interest has been capitalised because of COVID-19. This recent announcement by the ...

Mergers prompt 13% fee drop

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... merger, seven of the 11 saw an average reduction of 5%. Rainmaker executive director of research Alex Dunnin said fees do not go down just because a super fund merges, they go down because the trustees redesign the product. "Products are more likely ...