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New ETF for ASX All Tech Index

KANIKA SOOD  |  TUESDAY, 25 FEB 2020
... to ride the freshly-minted S&P/ASX All Tech Index will have access to a new ETF from BetaShares next week, but the fees are not cheap. The BetaShares S&P/ASX Australian Technology ETF (ATEC) is expected to list on March 5 investing in a diversified index ...

Three ETFs axed by Morningstar

KANIKA SOOD  |  TUESDAY, 25 FEB 2020
Dwindling client demand will see Morningstar analysts cease coverage on two BlackRock ETFs and a BetaShares product next month. From March 20, it will no longer publish qualitative research on iShares MSCI Japan (IJP), iShares China Large-Cap (IZZ) ...

Shape up on climate change risk: APRA

ELIZABETH MCARTHUR  |  TUESDAY, 25 FEB 2020
... directly as well as indirectly. APRA will develop a climate change financial risk prudential practice guide, which it says will not be intended to establish new obligations but to assist entities in complying with their existing prudential requirements. ...

IOOF faces new class action

ELIZABETH MCARTHUR  |  TUESDAY, 25 FEB 2020
... management over several years," Shine Lawyers class action practice leader Craig Allsopp said. "To date, these shareholders have not been able to recover any of their losses. I'm glad to be pursuing a solution for the many people affected by IOOF's alleged ...

SG amnesty bill finally passes

HARRISON WORLEY  |  TUESDAY, 25 FEB 2020
... cases - if they fail to get their house in order before the amnesty period ends. The bill's passage through the Senate was not secured without a brawl, with the government and opposition locked in tense discussion over a last-minute amendment as the ...

Chief economist update: Who's afraid of COVID-19?

BENJAMIN ONG  |  TUESDAY, 25 FEB 2020
... S&P/ASX 200 index, among others, even hitting record highs. Even heavily-hit China's stockmarket had started to bounce back. Not anymore. On February 24, COVID-19 gnawed through investors' hazmat suit, sending equity markets from London to Rio ...

Consumers trust Google over advisers: NobleOak

ALLY SELBY  |  TUESDAY, 25 FEB 2020
... those surveyed, only 18% were confident the issues identified by the Royal Commission would be fixed, with the majority (30%) not confident at all. "This indicates a lack of trust in the industry to change," NobleOak argued. "Interestingly, the younger ...

SMSF property adviser pleads guilty

ELIZA BAVIN  |  MONDAY, 24 FEB 2020
... Developments," the regulator said. "Charges laid against Nowak concern the misappropriation of $1.2 million in SMSF monies by not holding those funds in a designated account and by not applying those funds towards the intended property purchase." The ...

Freedom Insurance appoints liquidators

KANIKA SOOD  |  MONDAY, 24 FEB 2020
... but was waiting on ASIC to give the final clearance. "ASIC has advised us that a final deregistration of the company will not be possible until it has concluded its investigation, the timing of which we are not privy to," it said. "However we have taken ...

Super tax concessions out of hand

HARRISON WORLEY  |  MONDAY, 24 FEB 2020
... the form of superannuation tax concessions. "The rapid growth in these tax concessions will only make this worse," he said. Not only does the difference in wealth between rich and poor households grow in line with super tax concessions, but so does the ...