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Is EM an investor's saving grace?

ELIZA BAVIN  |  THURSDAY, 7 NOV 2019
With interest rates at record lows, Fidelity International believes investing in emerging markets may be the saving grace for many investors feeling the pinch. Speaking at the Fidelity Emerging Markets Adviser Forum in Sydney, Fidelity's cross asset ...

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 ...

Former Apogee, GPS Wealth advisers banned

JAMIE WILLIAMSON  |  THURSDAY, 7 NOV 2019
... comply with the best interests duty and to provide appropriate advice. Khaw, a former authorised representative of Apogee, was not adequately trained or competent to provide financial services and was found to have backdated file notes, ASIC said. The ...

Vanguard swoops on superannuation

KANIKA SOOD  |  WEDNESDAY, 6 NOV 2019
... been looking at for 22 years. Superannuation is a part of the reason why we came to Australia," Bowerman said. Bowerman did not comment on a timeline for the launch, or the place for external mangers in its superannuation product, saying it's too ...

Industry fund revamps MySuper offering

KANIKA SOOD  |  WEDNESDAY, 6 NOV 2019
A $5.6 billion industry superannuation fund is revamping its MySuper option, which will see default members' exposure to growth assets and fees rise. EISS Super is switching its MySuper options from a "conservative balanced" portfolio to a "balanced ...

Trustee firm, super fund in hot water

JAMIE WILLIAMSON  |  WEDNESDAY, 6 NOV 2019
... general advice model used to promote the mobiSuper fund had insufficient regard for consumers' best interests and this was not adequately monitored by Tidswell and ZIB. According to documents filed with the court, the advice provided was personal ...

Advice practices urged to contact ombudsman

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
... are bearing the brunt of brutal restructures by their licensors.. "They are saying that licensors' handling of matters has not been transparent or equitable." The Ombudsman was clear in saying it wants to hear from any financial adviser who feels that ...

Chief economist update: RBA holds but for how long?

BENJAMIN ONG  |  WEDNESDAY, 6 NOV 2019
... a self-fulfilling prophecy. The same as Lowe's optimism, hopefully, becomes self-fulfilling. But, but... but, they may not have been an utter repetition, but these words and phrases rhyme with the governor's words just a month before the RBA's ...

US reaches $1bn settlement over 1MDB scam

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
... US Attorney Nicola Hanna of the Central District of California. "The message in this case is simple: the United States is not a safe haven for pilfered funds. Our strict anti-money laundering controls are effective, and we will seize assets used by criminals ...

Antares hires from Gandel family office

KANIKA SOOD  |  TUESDAY, 5 NOV 2019
... investment officer Jonathan Armitage said. "At the same time, identifying a candidate as skilled as Gehan from within Antares not only means a seamless transition and great fit, but also highlights our support for developing and promoting strong talent ...