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Actuaries develop retiree rule of thumb

HARRISON WORLEY  |  THURSDAY, 7 NOV 2019
... manner. "The majority of Australians are members of defined contribution superannuation schemes, and on retirement they apply the balance of their account to start an account-based pension," De Ravin said. "But it is very hard for retirees, who are generally ...

Chief economist update: The yen to dictate if BOJ turns words into action

BENJAMIN ONG  |  THURSDAY, 7 NOV 2019
"Actions speak louder than words." That may be so but it appears that this generally accepted truism does not apply to the Bank of Japan (BOJ). The Japanese central bank has kept monetary on hold since it introduced quantitative and qualitative easing ...

Vanguard swoops on superannuation

KANIKA SOOD  |  WEDNESDAY, 6 NOV 2019
... illusion that it is a lot of work to get a license and then to get a product to the market." Bowerman said Vanguard will apply to APRA to get a responsible superannuation entity licence. But there is a lot of regulatory and legal work to go through before ...

RI Advice faces ASIC action

JAMIE WILLIAMSON  |  THURSDAY, 31 OCT 2019
... months later which he failed. In August of that year RI Advice received a complaint about Doyle. Still, RI Advice did not apply any enhanced supervision of Doyle, failing to audit any of his files until February 2015 - almost two years after he initially ...

AMP Capital boosts Asia presence after record raise

ELIZABETH MCARTHUR  |  THURSDAY, 24 OCT 2019
After raising a record US$6.2 billion for its fourth infrastructure debt strategy, AMP Capital is ramping up its presence in Asia and opening new offices. AMP Capital head of Asia Pacific Craig Keary said: "We had a total of 86 investors from 14 countries. ...

Whistleblower calls out approved product lies

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
... are still the norm and not even heat from the recent Financial Services Royal Commission has been enough to compel them to apply higher standards and put their clients first," Morris said. ClearView managing director Simon Swanson said a sales culture ...

Another winter of Australian discontent

BENJAMIN ONG  |  WEDNESDAY, 23 OCT 2019
... are getting tougher and the tail of enduring impacts of the drought is getting longer... And these impacts don't just apply to cash flow for growers - they also relate to stymied expansion plans, as well as growing soil and resource management challenges." ...

RBA blames lack of demand in property downturn

ELIZA BAVIN  |  THURSDAY, 17 OCT 2019
Reserve Bank deputy governor Guy Debelle said despite historically low interest rates and a rise in loan approvals, turnover in the housing market remains low. Speaking at the CFA Societies Australia Investment Conference event in Sydney the deputy ...

Get on top of non-financial risk: ASIC

HARRISON WORLEY  |  WEDNESDAY, 2 OCT 2019
A new ASIC report reveals company boards need to apply more focus and urgency to non-financial risk. ASIC's Director and officer oversight of non-financial risk report shows company management operates outside of board-approved risk appetites for ...

Chief economist update: The greatest central banker of modern times

BENJAMIN ONG  |  TUESDAY, 1 OCT 2019
... virtue." We've heard, read and seen this quote many, many times. This is a quote that's so easy to say but difficult to apply - more so if you're the head of one of the world's biggest central banks, presiding over a fast slowing economy ...