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Australia's billionaire boom branded 'morally wrong' by Oxfam

ANDREW MCKEAN  |  TUESDAY, 3 JUN 2025
... of their riches, followed by retail, investments, and mining/resources. Oxfam also revealed that the average 'Rich Lister' now holds more than 116,000 times the wealth of an Australian in the bottom 50%. Notably, the average wealth of someone in the ...

LGT Crestone, AUSIEX acquisitions finalised

KARREN VERGARA  |  TUESDAY, 3 JUN 2025
... Australia's (CBA) private wealth business has completed. AUSIEX, which is a subsidiary of Nomura Research Institute (NRI), has now expanded into over the counter (OTC) domestic and international fixed income products with the acquisition of FIIG. FIIG ...

Retirement confidence highest since 2020: SSGA

MATTHEW WAI  |  TUESDAY, 3 JUN 2025
... uncertainty, and heightened retirement costs, retirement confidence has increased from 24% in 2023 to 33% in 2025. Australia now sits just behind the US (34%) as one of the most optimistic countries regarding retirement readiness financially, with the ...

Superhero plans 'mass affluent' wealth play

JAMIE WILLIAMSON  |  MONDAY, 2 JUN 2025
... years, including as head of super and head of growth and development - wealth. Following the most recent raise, Superhero is now valued at $150 million.

Soul Patts merges to create new $14bn company

ANDREW MCKEAN  |  MONDAY, 2 JUN 2025
... over the past few decades, with growth in the value of its property assets and its building products portfolio. "The time is now right to combine with Soul Patts, bring our portfolios under one investment company, and become a well-resourced and more ...

ASIC blasts managed funds' poor compliance plans

KARREN VERGARA  |  MONDAY, 2 JUN 2025
... widespread," ASIC said, noting some plans completely failed to address one or more of the obligations. Following the review, it is now investigating potential breaches of compliance plan obligations. "Failing to plan is planning to fail," the corporate ...

Allan Gray exposes 'hateful eight' bubble threat

ANDREW MCKEAN  |  FRIDAY, 30 MAY 2025
... increased their weight in the ASX 300, he said there's clear evidence concentration risks are abound. "The Australian index is now extremely concentrated. Passive, index investors are currently knowingly or unknowingly allocating a huge part of their ...

Regal Partners charts US expansion

JAMIE WILLIAMSON  |  FRIDAY, 30 MAY 2025
... offshore versions of its funds. In 2024, offshore clients accounted for about $600 million or 30% of Regal's net FUM flows. Now, they represent some $3.3 billion or 20% of its total FUM. "... and we are optimistic this could grow materially in the coming ...

Quality over quantity: CareSuper on mergers

JAMIE WILLIAMSON  |  THURSDAY, 29 MAY 2025
... he's not looking to make a habit of it. On November 1, CareSuper and Spirit Super finalised their merger, creating what is now a $56 billion fund with more than 580,000 members, and taking on the heritage CareSuper brand. A few short weeks later ...

Greenwashing remains an enforcement priority: ASIC

MICHELLE BALTAZAR  |  THURSDAY, 29 MAY 2025
... and to support 'capacity building' in the sector. Under the current guidance, companies or reporting entities will now provide four reports to the regulator, namely its annual financial report, the directors report, the auditor's report and ...