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Showing 621 - 630 of 2155 results for "Extra"

Industry fund revamps MySuper offering

KANIKA SOOD  |  WEDNESDAY, 6 NOV 2019
... APRA statistics. The 11 bps rise in default members' fees as a result of the investment profile change equates to an extra $1.56 million in fees for the fund. The changes come into effect on 18 November 2019 and members have until November 13 to ...

US reaches $1bn settlement over 1MDB scam

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
The US Department of Justice has reached a settlement in its case against assets acquired by Low Taek Jho, also known as Jho Low, and his family. Jho Low allegedly misappropriated funds from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad ...

Industry fund offers bonus on income streams

KANIKA SOOD  |  THURSDAY, 31 OCT 2019
... morning in Melbourne. "We believe this will be an important behavior change mechanism, making a difference not just in the extra cash in their super but by encouraging members to think what solution is right for them in retirement." Five years ago, the ...

Chief economist update: It's the money, stupid

BENJAMIN ONG  |  TUESDAY, 29 OCT 2019
Extra, extra, read all about it! The S&P 500 index closed at a new all-time high overnight underpinned by bullish headlines that include: positive US-China trade talks; near-certainty of another Fed rate cut at its October FOMC meeting and the latest ...

Labor supports FASEA extension, confusion remains

ELIZABETH MCARTHUR  |  MONDAY, 28 OCT 2019
... advisory industry some certainty and take some pressure off of many advisers struggling to run businesses and do all the extra study," Pinnell said.

ASIC imposes AFSL conditions on IOOF

JAMIE WILLIAMSON  |  MONDAY, 28 OCT 2019
... best interests of members. IOOF is also required to appoint an independent expert to report on the implementation of the extra conditions. ASIC is serious about improving the quality of governance and conflicts management across the funds management ...

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
... fallout from the Royal Commission. ANZ saw remediation costs breaking $1 billion, while National Australia Bank added an extra $1.18 billion bringing its total remediation bill over $2 billion. Commonwealth Bank said it has compensated customers over ...

Australia climbs up Mercer global pension index

HARRISON WORLEY  |  MONDAY, 21 OCT 2019
... retirement savings, so does their comfort with amassing debt," he said. "The evidence suggests on a global basis, for every extra dollar a person has in pension assets, their net household debt rises by just under 50 cents."

Hong Kong hedge funds suffering: Report

ELIZA BAVIN  |  MONDAY, 21 OCT 2019
As protests continue in Hong Kong, hedge funds based in the region have seen the first negative net outflows recorded by the industry in a decade. Small to medium-sized funds, overseeing up to US$500 million in assets, have "bore the brunt" of investor ...

How much Future Fund spends in fees

KANIKA SOOD  |  FRIDAY, 18 OCT 2019
Australia's sovereign wealth fund returned a stellar 11.5% in the year to June, but how much did it spend on fees? In its annual report published this week, the Future Fund reported it had a "direct ratio cost" of 0.203% and "look-through costs" ...