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Showing 981 - 990 of 4001 results for "Cut"

AMP cuts ongoing advice agreements

ELIZABETH MCARTHUR  |  FRIDAY, 6 DEC 2019
AMP announced it will introduce annual agreements for clients who currently receive ongoing financial advice. During 2020, ongoing advice agreements will be phased out for all AMP-aligned and employed advice networks. "We have been considering the best ...

Chief economist update: A penny saved, a penny not earned by the economy

BENJAMIN ONG  |  FRIDAY, 6 DEC 2019
"As this prudent economy, which some people call Saving, is in private families the most certain method to increase an estate, so some imagine that, whether a country be barren or fruitful, the same method if generally pursued (which they think practicable) ...

Chief economist update: Australian economy gently turning which way?

BENJAMIN ONG  |  THURSDAY, 5 DEC 2019
... despite incorporating two of the RBA's interest rate reduction this year (from 1.5% to 1.25% in June and 1% in July - it cut rates again to 0.75% in October) and the Morrison government's tax cuts implemented in July. Recall that, the RBA's ...

Fee changes at industry super fund

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 DEC 2019
... 1, REI Super will change fees across a number of its options, according to a notice to members. Some options will see a fee cut, while fees on others have been increased. Investment fees charged to members in the fund's growth option will rise from 0.50% ...

CBA chief tasked with rebuilding banking

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
Commonwealth Bank chief Matt Comyn has taken over the reins as chair of the Australian Banking Association (ABA). The position is rotated between the chief executives of Australia's major banks, with ANZ chief executive Shayne Elliot stepping down from ...

Chief economist update: The Grinch steals Christmas

BENJAMIN ONG  |  WEDNESDAY, 4 DEC 2019
... technical assumptions "include the cash rate moving in line with market pricing". Markets are currently pricing another rate cut by February 2020. This suggests that the RBA expects to get to its 3% GDP growth; 5% unemployment rate and 2% inflation by ...

Global firm cuts fund fees

HARRISON WORLEY  |  TUESDAY, 3 DEC 2019
A global asset manager shaved 10 basis points off the management fee of its global fixed income fund. Legg Mason cut the management fee of its $45 million Legg Mason Brandywine Global Income Optimiser Fund to 0.65% per annum, as the offering approaches ...

Deutsche Bank offloads $76b in assets

ELIZA BAVIN  |  TUESDAY, 3 DEC 2019
... Deutsche Bank chief executive Christian Sewing announced the lender would offload back in July. Sewing announced the plan to cut exposure to markets in which the German lender was struggling as part of regulatory risk management in a major restructure. ...

Fee cuts at super fund

KANIKA SOOD  |  MONDAY, 2 DEC 2019
... defensive option, which had $55 million in assets under management at the end of June. The advocacy option is seeing a similar fee cut, taking it from 1.30% p.a. to 1.20% p.a. This option had $93.6 million at the end of June. The biggest fee drop is ...

Chief economist update: Chinese green shoots?

BENJAMIN ONG  |  MONDAY, 2 DEC 2019
... watered by government and central bank stimulus packages? Recall that on November 18, the People's Bank of China (PBOC) cut its seven-day reverse repo rate from 2.55% to 2.50% - the first rate reduction in four years (October 2015). This followed ...