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Showing 961 - 970 of 5907 results for "March 31"

Economic recap: Week to August 6

BENJAMIN ONG  |  MONDAY, 9 AUG 2021
At the conclusion of its August board meeting, the Reserve Bank of Australia (RBA) announced its decision to: maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of 0% maintain the target of 10 basis ...

Westpac sells life insurance unit

KARREN VERGARA  |  MONDAY, 9 AUG 2021
Westpac has agreed to offload its life insurance business to TAL Dai-ichi Life Australia for about $900 million. Westpac is due to make a $1.3 billion post-tax loss from the sale. The cash consideration of $900 million includes ongoing payments to Westpac ...

Rest closes basic cash option

KANIKA SOOD  |  WEDNESDAY, 4 AUG 2021
The industry fund will close its basic cash option on August 13, as it sees returns dry up. The option invested in cash securities that have a maximum maturity of three months. It aimed to match the return of the one-month Australian Bank Bill rate ...

CPP Investments APAC lead to depart

JAMIE WILLIAMSON  |  WEDNESDAY, 4 AUG 2021
The head of Asia Pacific for the Canada Pension Plan Investment Board has been promoted, with a replacement yet to be confirmed. Suyi Kim served as head of Asia Pacific since June 2016, overseeing close to $118 billion in investments and about 160 staff. ...

Six Park lowers minimum investment to $2k

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 AUG 2021
Robo adviser Six Park has lowered its minimum investment to just $2000, down from the $10,000 minimum it had at the start of 2020. In March 2020, Six Park first tested out lowering its minimum investment - slashing the $10,000 minimum to $5000. Clients ...

Retail fund tops MySuper tables for FY21

KANIKA SOOD  |  MONDAY, 2 AUG 2021
In a year the average fund posted over 18% in returns, CommBank's Essential Super was the top one-year performer. Essential Super Employer - Lifestage 1980-84 returned 26.5% in the year ending June, according to Rainmaker's performance tables ...

Fund administrator hires from competitor

KANIKA SOOD  |  MONDAY, 2 AUG 2021
Singapore-based Ascent Fund Services has hired from its competitor Apex Group to appoint the lead for its foray into Australia. Eric Koolen was the managing director of Apex Group's Australian business for about two years, ending March 2021. He has ...

Economic recap: Week to July 30

BENJAMIN ONG  |  MONDAY, 2 AUG 2021
The Delta variant outbreak continues to dominate headlines in Australia. Cases of infections in the states of Victoria and South Australia were brought under control and restrictions eased. However, the outbreak in Greater Sydney continued to worsened ...

AFA slams skyrocketing ASIC levy

KARREN VERGARA  |  WEDNESDAY, 28 JUL 2021
The Association of Financial Advisers fears that ASIC's FY21 industry levy will blow out even more than its estimates. The association does not want history to repeat itself, pointing to how the FY20 levy jumped 54% higher than ASIC's estimates. ...

Aon, Willis Towers Watson terminate merger

ELIZABETH MCARTHUR  |  TUESDAY, 27 JUL 2021
The US$30 billion merger between Aon and Willis Towers Watson is off, with Aon paying WTW a US$1 billion termination fee. In a statement, the companies said it was a mutual agreement - though the decision was forced by lack of regulatory approval in ...