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WAM Active returns 30%, beats indices

KARREN VERGARA  |  WEDNESDAY, 28 AUG 2024
Listed investment company (LIC) WAM Active (WAA) returned nearly 30% p.a. to unitholders, trumping its benchmarks in the last financial year. WAA beat its reference indices S&P/ASX All Ordinaries Accumulation Index by 13.3% and the Bloomberg AusBond ...

Inflation eases in July

ELIZA BAVIN  |  WEDNESDAY, 28 AUG 2024
... quarterly CPI results before it could act, suggest the first potential rate cut at this stage would not come until February next year (after the December quarter CPI result in late January)."

APRA reorganises as it sets sights on superannuation

ELIZA BAVIN  |  WEDNESDAY, 28 AUG 2024
... the regulator will maintain the "strength and stability of Australia's banks, insurers and superannuation trustees over the next four years". APRA's top priorities will include working with ASIC to ensure superannuation trustees meet their requirements ...

Investment firm becomes cornerstone investor in Finexia

ANDREW MCKEAN  |  TUESDAY, 27 AUG 2024
... closing price yesterday. It will be executed in two stages, with a first tranche of 10.77 million shares to be completed next week, resulting in Factory Capital holding approximately 17.77% of Finexia. The second tranche, which involves the issuance ...

Former adviser cops 12 years' imprisonment

KARREN VERGARA  |  TUESDAY, 27 AUG 2024
Former financial adviser Ben Jayaweera will spend the next 12 years behind bars after he was found guilty of fraud again. Jayaweera was sentenced in a retrial at the Brisbane District Court yesterday after he was found guilty of 28 counts of fraud amounting ...

Sequoia ends FY24 with 350 advisers

KARREN VERGARA  |  TUESDAY, 27 AUG 2024
... said it accrued the amount in the FY24 financial statement but did not disclose exactly how much. "One of our goals over the next two years is to further expand our number of self-employed advisers in financial planning under the Interprac Financial ...

Praemium revenue grows to $85m

ELIZA BAVIN  |  MONDAY, 26 AUG 2024
... resilience have set us up for long-term success." In addition, Wamsteker said the company was on the cusp of launching its next generation IDPS with a launch set for October this year. "We have listened to our stakeholders and deployed our best operational ...

Super on parental leave bill hits parliament

JAMIE WILLIAMSON  |  THURSDAY, 22 AUG 2024
... two million members, of whom more than one million are women. This reform needs to pass as soon as possible so that, from next July, our members on parental leave can start benefitting from the compounding returns on their new entitlements." According ...

MA Financial eyes growth with Warburg Pincus, Flexicommercial

MATTHEW WAI  |  THURSDAY, 22 AUG 2024
... experiencing one of the largest housing deficits on record, with an estimated shortfall of over 250,000 dwellings projected over the next three years. "The commercial real estate funding market needs to expand significantly to support developers in activating ...

ASIC locks eyes on super industry

ELIZA BAVIN  |  THURSDAY, 22 AUG 2024
The Australian Securities and Investments Commission (ASIC) has unveiled its corporate plan for the next 12 months, with the superannuation industry in the firing line. ASIC said its review of the superannuation industry has been a multi-year project ...