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Australia's billionaire boom branded 'morally wrong' by Oxfam

ANDREW MCKEAN  |  TUESDAY, 3 JUN 2025
... meet, the country's richest continue to amass eyewatering fortunes, often without lifting a finger," Muli said. "The single most urgent, structural, and strategic action that the Australian government can take now is to rapidly and radically reduce the ...

Global stock markets rally, but Trump's next post could flip the script

ANDREW MCKEAN  |  TUESDAY, 3 JUN 2025
... markets roared back in May, staging a spectacular turnaround from the extreme volatility and negative returns that rattled most developed equity markets in April. But uncertainty still looms large. UniSuper head of fixed interest David Colosimo says ...

LGT Crestone, AUSIEX acquisitions finalised

KARREN VERGARA  |  TUESDAY, 3 JUN 2025
... "provide local institutions, financial advisers, family offices, SMSF and high-net-worth and wholesale investors with one of the most comprehensive investments trading and portfolio administration platform offering in the country." NRI in turn aims to ...

Minimum wage to rise 3.5%

JAMIE WILLIAMSON  |  TUESDAY, 3 JUN 2025
... wage of $948 per week, up about $32, or an annual salary of $51,512. Accounting for inflation, which came in at 2.4% at the most recent read, it is a real wage increase of 1.1% - one of the largest awarded by the Fair Work Commission in its history. ...

Perpetual promotes two to strengthen fixed income team

MATTHEW WAI  |  TUESDAY, 3 JUN 2025
... tenure, to which Gillespie said: "Michael's contribution, not only as a leader in our business but as one Australia's most respected credit and fixed income investors, has been enormous." Perpetual's credit & fixed income team comprises of ...

Retirement confidence highest since 2020: SSGA

MATTHEW WAI  |  TUESDAY, 3 JUN 2025
... retirement confidence has increased from 24% in 2023 to 33% in 2025. Australia now sits just behind the US (34%) as one of the most optimistic countries regarding retirement readiness financially, with the survey pointing to financial planning as a stabiliser ...

Superhero plans 'mass affluent' wealth play

JAMIE WILLIAMSON  |  MONDAY, 2 JUN 2025
... governance at AustSafe Super which merged with Sunsuper in 2019. Simon Keast joined in April as chief financial officer, having most recently worked at Ovanti. Before that he was chief financial officer, US at Zip and also held roles at Macquarie, IAG ...

AMP launches superannuation feature to boost retirement income

ANDREW MCKEAN  |  MONDAY, 2 JUN 2025
... members to get more out of their superannuation. "This is a breakthrough innovation for the superannuation industry and, most importantly, our members - a simple, no-cost feature that can significantly increase retirement income and improve access to ...

Apostle launches CastleKnight Management in Australia

KARREN VERGARA  |  MONDAY, 2 JUN 2025
... investors," he said. CastleKnight managing partner and chief investment officer Aaron Weitman said: "We believe this is one of the most attractive environments we've seen in over a decade. Our approach attempts to capture dislocations and capitalise ...

ASIC blasts managed funds' poor compliance plans

KARREN VERGARA  |  MONDAY, 2 JUN 2025
... said. Many REs exhibited poor practices of not addressing all regulatory obligations. For example, the review identified that most plans did not address the obligation to periodically report IDR data to ASIC, as about 40% of the plans did not deal with ...