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Bleak year for dividend growth in Australia

KANIKA SOOD  |  WEDNESDAY, 19 FEB 2020
... ASX-listed companies cut their dividends in 2019. The biggest cutters were NAB and Telstra. However, even if these companies had not cut dividends, Australia's dividend growth would still have been flat for 2019. Commonwealth Bank tumbled from paying ...

Value disconnect damages adviser relationships

ALLY SELBY  |  WEDNESDAY, 19 FEB 2020
... believed to be of the most value. Morningstar found that there was some agreement between both groups on what was valuable, but "not a strong agreement". "The correlation between both groups' average lists is about 0.46, meaning there is a moderate relationship ...

Super chief opposes SG increase

ELIZA BAVIN  |  WEDNESDAY, 19 FEB 2020
... for an increase in compulsory super, he thinks they need to be "realistic." "Although the current 9.5% compulsory rate is not enough to grow superannuation savings for a comfortable retirement, Australia is in a period of low wage growth therefore an ...

What SMSFs will look like in 2030

ELIZABETH MCARTHUR  |  WEDNESDAY, 19 FEB 2020
... up and we didn't do the things we have to do to put Australians and SMSFs in the right position for the future," he said. "Not enough Australians are getting financial advice. There are 10.4 million Australians who tell us they have a financial advice ...

Franklin Templeton to acquire Legg Mason

JAMIE WILLIAMSON  |  WEDNESDAY, 19 FEB 2020
... there will also be no changes to Legg Mason's senior leadership team, Franklin Templeton said. While cost synergies are not a strategic driver of the transaction, there are opportunities to realise efficiencies through parent company rationalisation ...

Australian ETF industry competition heats up

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
... 'highly concentrated' at end of 2012 to being 'moderately concentrated' in 2014. In the five years since, it has not made much progress in moving towards a more open market. However, when it comes to revenue, the Australian ETF industry ...

AustralianSuper SG modelling paints dismal picture

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
The average female member of Australia's largest superannuation fund will not be able to achieve a comfortable retirement even with a 12% superannuation guarantee, according to the fund's internal modelling. AustralianSuper calculated expected ...

JP Morgan appoints two Aussie leads

ALLY SELBY  |  TUESDAY, 18 FEB 2020
JP Morgan has appointed not one, but two co-heads to lead the firm's investment banking business down under. Jabe Jerram and Simon Ranson have been appointed as co-heads of JP Morgan's investment banking coverage. A JP Morgan spokesperson said the appointments ...

CommInsure income protection off the menu

ELIZABETH MCARTHUR  |  TUESDAY, 18 FEB 2020
... Protection and will upgrade CommInsure Protection customers with the benefits of Priority Protection, where the upgrade does not result in an increase in premiums. "Our commitment to support CommInsure customers is unwavering; their existing cover remains ...

TCorp issues first Euro bond

HARRISON WORLEY  |  TUESDAY, 18 FEB 2020
New South Wales' public sector investment management partner made its first offshore issuance in Euros. TCorp issued a 30-year EUR60 million fixed rate note earlier this week, priced at 0.609% and due on 24 February 2050. TCorp head of funding and balance ...