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Budget 2019-20: Social media reacts

KARREN VERGARA  |  TUESDAY, 2 APR 2019
... https://t.co/7FEXCNAMKp pic.twitter.com/M6Dg2YfwBi - Liberal Party (@LiberalAus) April 2, 2019 Opposition Leader Bill Shorten was not impressed. After six years of cuts and chaos, the Liberals have no plan for the future. Just the same Liberal cuts. ...

Budget: RC response to cost over $600m

HARRISON WORLEY  |  TUESDAY, 2 APR 2019
... statement also said the Government would assess whether industry had implemented the Commission's recommendations, but did not provide a cost. The Financial Services Council said it supported APRA and ASIC's additional funding, adding appropriate resourcing ...

JPMorgan portfolio manager leaves

KANIKA SOOD  |  TUESDAY, 2 APR 2019
A portfolio manager at a $460 million JPMorgan strategy has left, sparking a review of the strategy at Morningstar. The JPMorgan Global Macro Opportunities Fund has been managed by James Elliot and Shrenick Shah since they co-created the strategy in ...

AustralianSuper hikes insurance fees

KARREN VERGARA  |  TUESDAY, 2 APR 2019
... low-balance accounts to the ATO and cease charging insurance for inactive members. An account dormant for 16 months, which has not received contributions for this period, and has balance less than $6000, will be transferred to the ATO. Last financial ...

Alternative platform launches

HARRISON WORLEY  |  TUESDAY, 2 APR 2019
... of technology now makes those benefits attainable outside of the wrap model. "We're now at a point where at least 90%, if not 100%, of a regular investor's diversity needs can be met by listed products, and technology has progressed to the point we can ...

MP slams prolonged grandfathered commissions carve out

KARREN VERGARA  |  TUESDAY, 2 APR 2019
... the basis that grandfathered commissions would guarantee part of the profits. In response, George said: "I'm probably not the right person to ask about that particular question. I haven't been involved in too many acquisitions of those smaller ...

New Zealand investors call for action after attacks

ELIZABETH MCARTHUR  |  TUESDAY, 2 APR 2019
... moved to make viewing and sharing the video illegal and Prime Minister Jacinda said of Facebook: "They are the publisher, not the postman. There cannot be a case of all profit, no responsibility." Speaking to Financial Standard, Australian Ethical head ...

Chief economist update: China stitches it in time

BENJAMIN ONG  |  TUESDAY, 2 APR 2019
... since November 2018, better than consensus expectations for a 50.1 outcome and is the highest reading since July last year. Not only this, forward indicators have also improved. As per Caixin, "The subindex for new orders climbed to its highest level ...

Regulators name laggard life insurance providers

KARREN VERGARA  |  MONDAY, 1 APR 2019
... expectations upfront of what is covered by the product, or that the adviser discouraged the policyholder from lodging a claim that is not covered by the policy, they said, adding individual advised accident is an exception and has a low admittance ra ...

AMP Capital invests in student accommodation

KANIKA SOOD  |  MONDAY, 1 APR 2019
... and quality. However, the broader platforms that Infratil intended to develop using the ANU portfolio as a cornerstone has not eventuated," Morrison and Co executive Mark Mudie said. "This conditional sale agreement enables ANU to continue to grow its ...