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Chief economist update: Australia succumbs to pandemic-induced recession

BENJAMIN ONG  |  THURSDAY, 3 SEP 2020
... But now it's all over. A teenie-weenie microscopic organism has ended the Australian economy's 29-year recession-free run. Not that we need to be informed - we were already feeling it deep right through our bone marrows - but the Australian Bureau ...

Super remains grossly inequitable: Per Capita

ELIZA BAVIN  |  WEDNESDAY, 2 SEP 2020
Australia's superannuation system continues to produce grossly inequitable outcomes between the financial security of Australian men and women in retirement, according to research from Per Capita. The research, titled The Herstory of Superannuation ...

UBS appoints new sector heads for equities

KANIKA SOOD  |  TUESDAY, 1 SEP 2020
... logical synergies with utilities. We thank Glyn Lawcock for covering this sector over the last two years, and this change will free up more time for him to focus on our important mining coverage." "In addition to continuing to assist Tom with energy ...

Fake pastor herds believers into Ponzi scheme

ELIZABETH MCARTHUR  |  MONDAY, 31 AUG 2020
... by a team of skilled and licensed traders for foreign exchange and cryptocurrency trading. They allegedly promised a risk-free return of between 6% and 42%. Jali claimed to be a pastor, the SEC said, and told believers that he was a self-made millionaire ...

ASIC grants frozen fund relief

JAMIE WILLIAMSON  |  THURSDAY, 27 AUG 2020
ASIC is granting new relief measures to help investors facing financial hardship get access to money stuck in frozen funds. Pandemic-induced volatility has seen a number of managed investment schemes freeze redemptions for fear of undermining their ...

Sam Henderson pleads guilty

ELIZABETH MCARTHUR  |  TUESDAY, 25 AUG 2020
Former celebrity financial adviser Sam Henderson has plead guilty to three charges of dishonest conduct. Henderson plead guilty to one "rolled up" charge of dishonest conduct along with two counts of making a disclosure document available to a person ...

Roar Software bolsters team, partners with Milliman

ALLY SELBY  |  TUESDAY, 25 AUG 2020
Roar Software has added two new executives to its leadership team, as it announces a partnership with global actuarial management consultant Milliman. Darren Pettiona has been appointed chair, while Simon Bishop has nabbed a role as a national sales ...

Chief economist update: Gone fishing

BENJAMIN ONG  |  MONDAY, 24 AUG 2020
... Factset data, Australia can issue 30-year government bonds at just 1.75% -- accounting for inflation, that's practically free money. But as the Chair of the Economics Committee Tim Wilson asked: "Is one of the core reasons we have been able to cushion ...

Unmet advice needs increases for SMSF trustees

ANNABELLE DICKSON  |  THURSDAY, 20 AUG 2020
... planning. Only 39% of the 3000 SMSF trustees surveyed prefer relying on professional advice while 61% were open to using free non-personalised advice from government bodies and investment newsletters. On the other hand, 46% of financial advisers are ...

How to make sense of reporting season

ALLY SELBY  |  TUESDAY, 18 AUG 2020
... packages, such as JobKeeper, make it increasingly difficult to make sense of reporting season, Wilsons said, with companies free to disclose assistance packages how they see fit. With disclosures varying widely, Wilsons notes it is ever the more difficult ...