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| | | ... asset management division decreased $3.4 million to $34.8 million with its net revenues declining by $9 million due to a lower average FUM. The financial advice business finished positively, however. Underlying NPAT was up $6.4 million or 22.6%. This ... |
| | | | ... head to the Senate, along with our legislation to establish the $10 billion Housing Australia Future Fund, which passed the lower house last night." The key bill being Future Fund, aims to help tackle Australia's housing crisis by securing ongoing ... |
| | | | Amid the largest drop in global pension assets since the GFC, Australian super funds held steady with lower bond allocations and Super Guarantee flows. Global pension assets had their largest annual decline since the GFC, dropping 16.7% to $47.9 trillion ... |
| | | | ... underlying NPAT of $55 million, halved from $111 million last year. This is due to the simplification project carried out, lower average AUM and price reductions implemented the previous year, AMP said. "Our strategic focus has been on simplifying our ... |
| | | | ... mortgages, but it'll be harder if inflation gets too high and stays too high, meaning even higher interest rates and lower employment." However, not everyone was convinced. Senator McKim fired back, saying Australians took on mass debt following ... |
| | | | ... Essential Super invested in in-house products. It also affected members in the FirstWrap Pooled Cash Account who earned lower interest rates well below the market so that for CFSIL could retain the margins for its own benefit. As ordered by the Federal ... |
| | | | ... institutional sales fell 14% to $2.9 billion. Challenger's Funds Management business EBIT was down 42% to $31 million, due to lower average funds under management (FUM) of $93 billion compared to period prior. The Funds Management FUM balance was maintained ... |
| | | | ... Furthermore, these households are cashed-up, with some $280 billion sitting in savings and $110 billion in offset accounts. The lower income group on the other hand might be feeling the pinch. Household savings for low-income earners fell materially ... |
| | | | ... actions to ensure regulator compliance." PCCU contributed $5.4 million in annualised net revenue, which Fiducian said was lower than expected because of a decline in funds under advice. "In time, inflation will be tamed and as always wars, and the impact ... |
| | | | ... to rally as demand for hard commodities surges following China's reopening. Moreover, Australian equities are trading at lower valuations relative to US equities, he said. McCormack also favoured insurers like QBE and IAG which have a captive market ... |
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