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Australia home to 43 billionaires: UBS

KARREN VERGARA  |  MONDAY, 16 DEC 2024
Australia has consistently produced billionaires over the last 10 years and is home to 43 of the richest people in the world, according to a new report from UBS. Australia gained two billionaires over the course of 2024 - the majority of which (77%) ...

Hostplus' AFCA complaint response times lag

ELIZA BAVIN  |  MONDAY, 16 DEC 2024
... improved to 119 days in the quarter ending June 30. However, both were higher than the super industry average of 105 days to close a complaint. The report also revealed that less than half (46% in the quarter ending March 31 and 49% in the quarter ending ...

TCorp buys Euroclear stake from LSEG

JAMIE WILLIAMSON  |  FRIDAY, 13 DEC 2024
... derivatives and funds, as well as collateral management services, across 50 different markets and in 45 currencies. It counts close to 2500 institutions among its clients and holds about $65 trillion in custody on their behalf. "Euroclear is a foundational ...

ETF industry scales to new heights: VanEck

ANDREW MCKEAN  |  FRIDAY, 13 DEC 2024
According to the VanEck ETF Industry Pulse for November 2024, the Australian ETF industry reached a record $243 billion in funds under management, bringing it closer to $250 billion. This represents a 4.5% increase from October and a 42.5% rise from ...

ASFA names former ABC presenter as strategy chief

ELIZA BAVIN  |  THURSDAY, 12 DEC 2024
... since February this year as a strategy and communications consultant. Prior to that, Morris was a journalist at the ABC for close to a decade, including four years as the ABC News Breakfast finance presenter. "I'm delighted to welcome Madeleine to this ...

RBA 'paves way' for February rate cut

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2024
The Reserve Bank of Australia (RBA) surprised no one by leaving the official cash rate on hold at 4.35% at its final meeting of the year. While this was the ninth consecutive month the central bank has kept the cash rate steady, the decision was met ...

GQG raises $145m for private markets fund

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2024
GQG Partners has announced that its GQG Private Capital Solutions business has closed around $145 million for its initial private capital fund. GQG said the addition of private markets capabilities is an important step in diversifying its sources of ...

Eyes on gaming, Chinese tech in 2025: Orbis

MATTHEW WAI  |  WEDNESDAY, 11 DEC 2024
Orbis Investment is feeling good about its investment in Japanese video game giant Nintendo, believing it's about to defy its historic 'boom-bust' cycle. Speaking to Financial Standard, Orbis Investment head of clients, Australia Eric Marais ...

Funds are 'getting back to basics', says report

ANDREW MCKEAN  |  TUESDAY, 10 DEC 2024
... price pressures now easing, these funds are shifting focus to the long-term drivers of economic and market outcomes, with close to 60% identifying technological change or equilibrium real interest rates as the key factors shaping their five-10-year investment ...

Perpetual-KKR deal hits tax bill snag

KARREN VERGARA  |  TUESDAY, 10 DEC 2024
... Further, Perpetual said it is engaging with KKR to consider the potential impact on the transaction. The deal was slated to close in early 2025. If it goes ahead, the sale of the wealth management and corporate trust businesses will leave Perpetual as ...