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Showing 71 - 80 of 474 results for "ABA"

The trouble with best financial interests duty

KARREN VERGARA  |  WEDNESDAY, 10 FEB 2021
The best financial interests duty reform has major loopholes and lacks guidance from regulators, leading to major confusion for superannuation trustees. The fourth element of the proposed Your Future, Your Super reforms should be abandoned, according ...

Reference checks should cover all advice: FPA

KARREN VERGARA  |  MONDAY, 1 FEB 2021
... Hayne slammed the advice industry for its poor background-checking practices, urging it to follow in the footsteps of the ABA. The inquiry found licensees frequently failed to respond adequately to requests for references on their previous employees ...

MySuper performance recovers, hits record high

KARREN VERGARA  |  MONDAY, 11 JAN 2021
Default superannuation funds have fully recovered from COVID-induced losses, yet underperformance within the asset classes remains rife, according to new Rainmaker data. Rainmaker's November 2020 MySuper index has reached a record high, bouncing ...

Aware Super completes WA Super merger

KANIKA SOOD  |  FRIDAY, 4 DEC 2020
The industry superannuation fund has completed its merger with WA Super initiated earlier this year and now has $135 billion in assets and one million members. The merger gives Aware Super 60,000 members in Western Australia. The smaller fund's ...

IOOF abandons AET sale

KANIKA SOOD  |  FRIDAY, 4 DEC 2020
IOOF yesterday said it won't be pursuing an offer to buy its retail trustee Australian Executor Trustee business. On August 31, IOOF said it had received an expression of interest for AET. "IOOF has considered the expression of interest and confirms ...

Chief economist update: David Australia versus Goliath China

BENJAMIN ONG  |  WEDNESDAY, 2 DEC 2020
The Reserve Bank of Australia (RBA) kept monetary policy unchanged at its December board meeting - the last of 2020 - and for good reason. "In Australia, the economic recovery is under way and recent data have generally been better than expected... ...

Super fund joins climate initiative

ANNABELLE DICKSON  |  MONDAY, 23 NOV 2020
A $54 billion industry fund, a mining company and a professional services firm have joined an initiative to tackle emissions in supply chains by 2050. Cbus, Fortescue Metal Group and Aurecon have signed on to the Australian Industry Energy Transitions ...

Insto demand sees digital asset manager launch

JAMIE WILLIAMSON  |  FRIDAY, 13 NOV 2020
A newly launched UK asset management firm is catering to institutional investors' increasing interest in digital assets, piquing the curiosity of Australian high-net-worths. London-based ByteTree Asset Management launched this week with a mission to ...

Melbourne firm wins $1.1bn in mandates

KANIKA SOOD  |  THURSDAY, 8 OCT 2020
Melbourne's MSC Group has been appointed to provide trustee and fund administration services to three Australian fund managers that are 50% owned by Oaktree Capital Management. Argyle Capital Partners, January Capital and Fortitude Investments Partners ...

Several black holes in budget

KARREN VERGARA  |  WEDNESDAY, 7 OCT 2020
There were several missed opportunities in the federal government's 2021 budget, according to industry leaders in the superannuation and charitable-giving sectors. The superannuation sector is letting Treasurer Josh Frydenberg's proposals sink ...