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Mental health over financial health: Research

ELIZA BAVIN  |  THURSDAY, 19 NOV 2020
... Almost half (40%) of employees said their employer doesn't offer any support to improve mental wellbeing, and 50% said they are not being offered financial health support. Interestingly, MetLife found that while 73% of employers claim to offer flexible ...

Funds management in ASIC spotlight

ELIZA BAVIN  |  THURSDAY, 19 NOV 2020
... Economics. ASIC acting chair Karen Chester said the review seeks to identify where "competition is effective, where it is not, and if not, why not". "There is over a trillion dollars' worth of assets under management in Australia, invested across ...

ASX runs into trouble again

KANIKA SOOD  |  WEDNESDAY, 18 NOV 2020
... ASX Centre Point execution prices will be based on the ASX-lit best bid and offer only. That is, Chi-X bids and offers would not be used. "By not considering Chi-X bids and offers, transactions conducted on Centre Point may no longer constitute a Trade ...

Spaceship launches new managed fund

KANIKA SOOD  |  WEDNESDAY, 18 NOV 2020
... feature heavily in other Voyager products), industrials, consumer discretionary and healthcare. Fifteen of these are new names not held in other Voyager funds. It is managed in-house by Jason Sedawie, Phoebe Jin and Tommy Rogulj. By sector, it has 18 ...

AustralianSuper net-zero promise flawed: MarketForces

KANIKA SOOD  |  WEDNESDAY, 18 NOV 2020
... indices after it started measuring carbon intensity in 2013. "While there are some positive elements to the new policy, it does not categorically rule out coal mining or coal power investments, set a path to exiting the oil and gas sector, nor set short- ...

Shipton's tax bill under scrutiny

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 NOV 2020
... bill for Shipton to $75,000. Hehir acknowledged issues of governance over the procurement of tax advice within ASIC. It was not clear why ASIC procured the tax advice rather than Shipton procuring it himself and then being reimbursed by ASIC. Paterson ...

Old problem needs new solution: Research

ANNABELLE DICKSON  |  WEDNESDAY, 18 NOV 2020
... Reserve Bank of Australia's (RBA) latest cash rate cut, down to 10 basis points, retirees with a large allocation to cash are not able to generate sufficient levels of income. Further to this, Allianz Retire+ chief executive Matt Rady said traditional ...

Morningstar adds ESG to analysis

ANNABELLE DICKSON  |  WEDNESDAY, 18 NOV 2020
... engagement and proxy voting programs," Morningstar said. Morningstar said its analysts that classify a fund with a "low" rating do not believe it serves the needs of investors that seek investments that meaningfully incorporate ESG whereas for an asset ...

COVID-19 to remain dominant in 2021

ELIZA BAVIN  |  WEDNESDAY, 18 NOV 2020
The end of 2020 is not likely to see the end of COVID-19, particularly when it comes to the impact it has on global markets. J.P. Morgan Asset Management (JPMAM) explored the trends that will impact portfolios in its annual Long-Term Capital Market ...

Chief economist update: Vaccine optimism sparks AUD resurgence

BENJAMIN ONG  |  WEDNESDAY, 18 NOV 2020
... as a risk currency; it's sold in times of heightened uncertainty and correlates positively with good tidings. It's not surprising therefore for the AUD to weaken anew following the second wave in Europe and the reimposition of restrictions there ...