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Chief economist update: The turn in Australia's cycle from vicious to virtuous

BENJAMIN ONG  |  FRIDAY, 5 JUL 2019
"Such a feelin's comin' over me There is wonder in most everything I see..." - Karen Carpenter Not long now - just less than a percentage away (0.8% to be exact) - and the All Ordinaries index would top the all-time high of 6,853.57 points it ...

Class expands executive line-up

HARRISON WORLEY  |  THURSDAY, 4 JUL 2019
Self-managed super administrator Class made a raft of additions to its executive leadership. In a quarterly update to the ASX today, Class revealed it made three senior appointments to fill its executive leadership team, enabling the firm to formulate ...

HUB24 defends cash accounts

KARREN VERGARA  |  THURSDAY, 4 JUL 2019
... response, HUB24 said it maintains flexible fee arrangements for clients and the fee example reference in the article was "not representative of the administration fees paid and interest rates received for the majority of our clients". It maintains that ...

Chief economist update: Currency manipulators beware

BENJAMIN ONG  |  THURSDAY, 4 JUL 2019
... further raise upward pressure on the US currency. Beggar-thy-neighbour policies have never worked in the past. And it would not now, especially in this age of greater globalisation. Free-floating exchange rates are designed to restore economic equilibrium. ...

Bonds raise alarm at fund manager

KANIKA SOOD  |  WEDNESDAY, 3 JUL 2019
... "marginal", the funds had enough cash available, the bonds had contributed well to the performance and the investments were not blindfolded decisions impacted by on personal relationships between Windhorst and H20 managers. "For absolute clarity, our ...

State Street cops $125m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 3 JUL 2019
... reimbursement, without disclosing that State Street had added extra compensation for itself - compensation that clients had not agreed to pay," SEC Boston Regional Office director Paul G. Levenson said. "Fund expenses make a big difference to mutual ...

Responsible investments outperform mainstream

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUL 2019
... strategies - consumers were found to be most interested in funds that avoided fossil fuels and human rights violations. This is not entirely in line with the most common negative screens. Investment managers are most likely to screen out weapons and ...

Shadforth signs new tech partner

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUL 2019
... 2018-19 financial year for FinClear." Head of Shadforth in Tasmania Gene Phair said: "We were seeking a provider who could not only deliver a fast and efficient broking service, but whose client-first values aligned with our own." The partnership was ...

AMP bolsters managed portfolio offering

HARRISON WORLEY  |  WEDNESDAY, 3 JUL 2019
... to advantages such as reduced operational risk - managed portfolio transactions are generally centrally implemented - and not requiring the production of a statement of advice for every transaction.

APRA warns trustees on PYSP deadline breach

KARREN VERGARA  |  WEDNESDAY, 3 JUL 2019
... charged over 3%. APRA wants trustees to refund members any excess fees no matter how small the amount. Super funds should not mistake members making investment changes as a sign of activity, APRA warned. An inactive account means no contributions and/or ...