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MSC Trustees wins mandate

JAMIE WILLIAMSON  |  THURSDAY, 2 JUL 2020
MSC Trustees was appointed trustee for the $1 billion ASX-listed notes of Spark Infrastructure. The notes form part of Spark's stapled security capital structure, first listed in 2005. In taking on the mandate, MSC Trustees replaces Australian Executor ...

Industry fund eyes KiwiSaver accounts

KANIKA SOOD  |  THURSDAY, 2 JUL 2020
... First Super chief executive Bill Watson told Financial Standard. The fund's current member base stands at about 45,000 not accounting for future ERS impact. The 3000 a year addition could swell its member base by about 6.7%. The partnership comes ...

Mandates from superannuation funds slow

KANIKA SOOD  |  THURSDAY, 2 JUL 2020
... classes including fixed income were flat at under $100 million each. "Everyone's been obsessed with the COVID crisis. Now is not the time to be swapping investment mandates," Rainmaker executive director of research and compliance Alex Dunnin said ...

Super for women under scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 2 JUL 2020
... funds - such as Verve and Fairvine - grow in popularity. Lusher Financial Services adviser Christine Lusher said she does not think a super product specifically for women is something the market needs - or even something that would suit many women. "Funds ...

AFCA sees 14% rise in complaints

ELIZA BAVIN  |  THURSDAY, 2 JUL 2020
... complaints for 15 months, from Friday 26 June 2020 to 30 September 2021. Locke said: "It is important that consumers know they do not need to pay someone to lodge a complaint with AFCA. We are an independent ombudsman service, and we are free to consumers." ...

Super reform should happen, but not now: Grattan

ELIZA BAVIN  |  THURSDAY, 2 JUL 2020
The Grattan Institute has warned that now is not the time to enact sweeping reforms as the nation battles the economic effects of the COVID-19 pandemic. Chief executive of the Grattan Institute John Daley said policy priorities need to reflect the new ...

Cbus brings digital assets in-house

ELIZA BAVIN  |  THURSDAY, 2 JUL 2020
... decisions that can improve member outcomes." Pickering said the move to bring digital assets under Cbus' control will not replace administration systems provided by Link Administration. "It will never replace the back-end administration systems that ...

ATO crashes amid tax return, ERS rush

ELIZA BAVIN  |  THURSDAY, 2 JUL 2020
... superannuation," the ATO said. "If you receive a phone call, text message or email offering to help you release your super early, do not provide your personal information or click on any links." The ATO reiterated that those who apply for the scheme ...

Chant West, Zenith agree on acquisition

KANIKA SOOD  |  WEDNESDAY, 1 JUL 2020
... which are confidential, Chant West said in ASX filings this morning. Chant West's chief executive Brendan Burwood will not continue with Zenith. Zenith Investment Partners chief executive David Wright said the acquisition adds a new business segment ...

Perpetual wins government fund mandate

KANIKA SOOD  |  WEDNESDAY, 1 JUL 2020
... of sectors including agriculture, healthcare, education, financial inclusion and clean energy, according to DFAT. It will not offer grants and instead use loans, equity and guarantees to encourage additional investment into investee funds from private ...