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Showing 701 - 710 of 2129 results for "Financial Year"

MySuper returns negative

ELIZABETH MCARTHUR  |  FRIDAY, 7 AUG 2020
Default MySuper products delivered negative returns in the 2019/2020 financial year, but the results weren't as bad as they could have been. According to the Rainmaker MySuper investment performance index, MySuper products delivered an average return ...

Chief economist update: Escape from Victoria

BENJAMIN ONG  |  FRIDAY, 7 AUG 2020
... an extra A$15.6 billion for the JobKeeper scheme, taking the total cost of the programme to A$102.2 billion this financial year. Needless to say, this will raise the country's budget deficit than that forecast by the Treasury in its July Economic ...

CalPERS chief investment officer resigns

JAMIE WILLIAMSON  |  FRIDAY, 7 AUG 2020
... following the resignation of Yu (Ben) Meng. Meng was appointed to the lead investments role in January 2019 and, last financial year, achieved a return of 4.7% - beating its 4.3% benchmark despite the extreme volatility sparked by COVID-19. He will be ...

Netwealth hits fund managers with new fee

KANIKA SOOD  |  FRIDAY, 31 JUL 2020
... therefore will charge $1000 plus GST for FY21, after which it will go to $2000 plus GST per rebate agreement from next financial year. As an example, a fund manager offering fee rebates on one fund to 10 advisers, licensees or managed accounts providers ...

Macquarie fired 32 people in "consequence management"

ELIZABETH MCARTHUR  |  THURSDAY, 30 JUL 2020
... the bank's "consequence management", highlighting the consequences of inappropriate behaviour. He said that in financial year 2020, there were 164 matters at Macquarie Group that involved conduct or policy breaches that led to formal consequences. "Of ...

CBA ups remediation bill for advice

ELIZA BAVIN  |  THURSDAY, 30 JUL 2020
... additional pre-tax customer remediation provisions of $300 million across our aligned advice businesses for the financial year ended 30 June 2020." The additional costs have brought the banks total remediation bill across its advice practices to $834 ...

Super to lose $3tn by 2040

JAMIE WILLIAMSON  |  FRIDAY, 24 JUL 2020
... extended to December 31. MySuper products are also expected to demonstrate an average return of -0.7% for last financial year - the lowest returns since the Global Financial Crisis. The projection of a $3 trillion hit was reached after Rainmaker's ...

No returns in sight for AAP investors

ALLY SELBY  |  TUESDAY, 21 JUL 2020
... return on their investment, with contributors donating anywhere between $3000 and $1 million at the close of the financial year. Led by impact investor Nick Harrington and philanthropist John McKinnon, the new AAP will be run as a not-for-profit - without ...

Super to tip into negative cash flows: Research

ELIZABETH MCARTHUR  |  MONDAY, 20 JUL 2020
... super program. Right Lane predicts that 54 of 90 super funds could be in negative cash flows by the end of the 2020 financial year. Across the board, Right Lane believes, excluding investment performance, most funds will deliver modest or no growth in ...

Specialist platforms prosper in June quarter

ALLY SELBY  |  MONDAY, 20 JUL 2020
HUB24 has reported record annual inflows of $4.95 billion for the 2020 financial year, which it says has been driven by clients ditching "incumbent platforms" for the specialist provider. Its funds under administration lifted 24% for the FY20 to hit ...