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Showing 761 - 770 of 7086 results for "June 30"

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
AMP is facing legal action from global reinsurer Munich Re over potentially deceptive practices in past reinsurance arrangements. In a disclosure nestled within AMP's recent half-year results, it was revealed that AMP Limited and its subsidiaries, including ...

HSBC committed to local custody arm despite rapid decline in assets

JAMIE WILLIAMSON  |  TUESDAY, 22 AUG 2023
Despite its local assets under custody and administration plummeting by more than 60% in the past six months, HSBC is adamant it's not going anywhere. The most recent statistics to come out of the Australian Custodial Services Association (ACSA) show ...

Qualitas scores another $700m from ADIA

CHLOE WALKER  |  TUESDAY, 22 AUG 2023
The listed real estate manager has secured a second commitment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The sovereign wealth fund will now invest a total of $1.4 billion in the Qualitas Diversified Credit Investments ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
AMP has put to bed a class action relating to fee for no service scandals and misleading regulators as exposed by the Royal Commission but claims no responsibility in settling for $110 million. The class action filed in June 2018, affected AMP shareholders ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
Westpac has posted a net profit of $1.8 billion for 3Q23, driven by steady operating revenue and disciplined margin management. Despite inflationary headwinds which led to a rise in expenses by approximately 5% for the second half of 2023 compared to ...

Magellan performance halves across the board

KARREN VERGARA  |  FRIDAY, 18 AUG 2023
As Magellan Financial Group's funds under management and profit drastically decline, its investments in Barrenjoey Capital Partners and FinClear also took a toll on its 2023 financial year performance. The group's average funds under management ...

GQG hits $104.1bn on back of inflows

ANDREW MCKEAN  |  FRIDAY, 18 AUG 2023
GQG Partners' funds under management (FUM) has surged to $104.1 billion as of June 30, reflecting 20.1% growth year on year. In an ASX announcement, GQG attributed FUM growth to $6.2 billion of net inflows and strides in the global equity markets. The ...

ASIC appeal in CBA, CFS case dismissed

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
Having had its initial conflicted remuneration case against Commonwealth Bank and Colonial First State dismissed in September 2022, ASIC's appeal of that decision has also now been dismissed. The case was first brought by ASIC in June 2020 and related ...

Norway's sovereign wealth fund returns 10%

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
Norway's $1.4 trillion Government Pension Fund Global returned 10% in the first half, equivalent to $343 billion. Norges Bank Investment Management reported a $13.7% return on equity investments for the first half of 2023, while fixed income yielded ...

ASX profits hit by CHESS setbacks, acts on review findings

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
The ASX reported a 37.6% plunge in statutory net profit to $317.3 million, largely weighed down by hefty CHESS replacement costs. The securities exchange finished the financial year with an underlying net profit after tax (NPAT) of $491.1 million, marking ...