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ANZ staff axed over treasury bond scandal

ELIZA BAVIN  |  THURSDAY, 25 JUL 2024
ANZ has provided an update on its investigations into its Australian Markets business in relation to a 2023 bond transaction. ANZ chief executive Shayne Elliott said the bank had been working with the Australian Securities and Investments Commission ...

Macquarie AM spins off real estate manager

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2024
... due to officially launch in the fourth quarter of this year subject to regulatory approvals. MAM recently announced the close of its global opportunistic real estate fund with $US1.9 billion to be deployed across logistics, warehousing, self-storage ...

Perpetual net outflows top nearly $9bn

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2024
Perpetual's asset management business failed to stem outflows before the financial year end, which saw $8.9 billion of investor money exit its six boutiques. Former investors of Pendal Asset Management drove the exodus, walking away with a whopping ...

Investors brace for turbulence as Biden backs out

ELIZA BAVIN  |  TUESDAY, 23 JUL 2024
Investors are preparing for some market turbulence in the US after President Joe Biden pulled out of the race for President against Donald Trump. American Century chief investment officer Rich Weiss said Biden's decision to withdraw as the Democratic ...

Charges brought against ASX pump and dump group

JAMIE WILLIAMSON  |  TUESDAY, 23 JUL 2024
Four people have been criminally charged after an ASIC investigation identified them as key members of a Telegram group named the 'ASX Pump and Dump Group.' Syed Yusuf, Larissa Quinlan, Emma Summer, and Kurt Stuart have been charged with conspiracy ...

Insignia Financial flags more remediation ahead

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... quarterly update, Insignia Financial confirmed it is adding $135 million after tax to its remediation bill for FY24. Of this, close to $60 million relates to "completed assessments for self-employed advisers which exhibited far higher failure rates than ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
OnePath Custodians is entering a court enforceable undertaking with APRA and will pay close to $11 million, as it continues to identify super members whose contributions weren't directed to a MySuper option when they should have been. APRA has agreed ...

Rest awards private equity mandate to TowerBrook Capital

ANDREW MCKEAN  |  MONDAY, 22 JUL 2024
Rest has awarded a US$75 million ($112.15 million) mandate to transatlantic investment manager TowerBrook Capital Partners, for its Delta private equity impact fund. The Delta fund will invest in mid-sized private companies that are expected to generate ...

Pacific Current sells European boutique

KARREN VERGARA  |  MONDAY, 22 JUL 2024
... 1.37 million shares of Abacus common stock. The transaction is subject to Luxembourg regulatory approval and is expected to close in the coming months. PAC announced it made a US$34.25 million ($47m) investment in Carlisle in 2019, which equated to a ...

Industry funds defend CFMEU board ties

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
Industry funds BUSSQ and Cbus have defended their respective boards' close ties to the CFMEU, saying all representatives satisfy the fit and proper standards outlined by APRA. This week the Victorian branch of the Construction, Forestry and Maritime ...