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Future Fund muscles past annual target return, lags in March quarter

ANDREW MCKEAN  |  TUESDAY, 6 MAY 2025
... liabilities - "a classic rainy-day fund." But under prime minister Anthony Albanese and treasurer Jim Chalmers, "that model has now been decisively overhauled." With public debt soaring, a housing crisis that's hitting the younger generation, and ...

What Labor's second term means for regulators

KARREN VERGARA  |  TUESDAY, 6 MAY 2025
... consultation had been done, policies drafted, sometimes legislation drafted as well, but didn't quite get over the line. Now those things, I presume, will keep going. So that's easier for us as we know who we're dealing with," Court said. ...

Magellan sees $1bn monthly outflows

ELIZA BAVIN  |  TUESDAY, 6 MAY 2025
... equity fund offered in connection with Magellan's strategic partnership with Vinva Investment Management. Magellan's AUM is now almost back to the same level as when it reported its half year result to 31 December 2024. At the end of the half, AUM was ...

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN  |  MONDAY, 5 MAY 2025
ASIC has cancelled the Australian financial services licence of Brite Advisors after the now-defunct investment and pension firm failed to compensate a client, triggering a payout under the Compensation Scheme of Last Resort (CSLR). The regulator cancelled ...

Warren Buffett to retire, recommends successor

KARREN VERGARA  |  MONDAY, 5 MAY 2025
... the past, [I couldn't] be more humbled and honoured obviously to be in this role but to have actually been part of Berkshire now 25-plus years." "And you find something like Berkshire that's so special, you fall in love with it and it becomes just ...

ASIC streamlines AFSL applications

JAMIE WILLIAMSON  |  MONDAY, 5 MAY 2025
... to vary, cancel or maintain an AFSL are still in the works, so the existing eLicensing system will remain operational for now. Those applying for an AFSL can do so through the existing system or via the new portal, for which they'll need to register ...

Global economic uncertainty the main priority: Chalmers

ELIZA BAVIN  |  MONDAY, 5 MAY 2025
... Labor government was the best way to deliver that," Chalmers said. "Our agenda is really clear. We have to build more homes now, we've got to get this energy transformation right, we've got to do more to embrace technology, particularly the AI ...

Rest details internal program to reform death benefit processes

ANDREW MCKEAN  |  FRIDAY, 2 MAY 2025
... the spokesperson said. "We've made significant improvements to the speed of our death benefit claims handling and have now doubled the number of claims resolved within 90 days," the spokesperson said. "We've also reduced the number of open claims ...

Wealth managers' recovery looks promising: Research

KARREN VERGARA  |  FRIDAY, 2 MAY 2025
... products, blending accumulation/super with a retirement income solution. As a more focused wealth and bank operator, AMP is now starting to deliver, the research said, thanks to platforms seeing some inflows, super outflows improving, margin pressure ...

CFS allots Martin Currie two mandates

KARREN VERGARA  |  FRIDAY, 2 MAY 2025
... State (CFS) has mandated Martin Currie to oversee two options in its multi-manager single-sector strategy. Martin Currie is now looking after the CFS Australian Share and CFS Geared Australian Share options, replacing Longreach CAI and Tyndall Asset ...