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Australian investment market moves onward and upward

ANDREW MCKEAN  |  THURSDAY, 10 OCT 2024
... Australia, holding a 10.6% market share, and its FUM growth over the past year is higher than the combined growth of the next four largest fund managers. The research also showed strong performance in retail super, with FUM rising 9.9%, making it the ...

ETF winners and losers in September

ANDREW MCKEAN  |  THURSDAY, 10 OCT 2024
... marking its strongest move in a decade. The worst performers were the VanEck Global Carbon Credits ETF (Synthetic), down 9%, next in line was the Betashares Crude Oil Index ETF - Currency Hedged (Synthetic), which dropped 6.1%, and the Betashares Australian ...

Netwealth FUA soars, names new chief financial officer

ELIZA BAVIN  |  THURSDAY, 10 OCT 2024
... younger clients. "We are pleased to welcome the Flux team to Netwealth. They have achieved strong success in engaging with the next generation of young adults, particularly the Emerging Affluent segment, on their finances and investments since 2020," ...

Ares buys GCP International in $5.5bn deal

JAMIE WILLIAMSON  |  WEDNESDAY, 9 OCT 2024
... enterprise customers continues to accelerate with capital expenditure expected to materially exceed $1.48 trillion over the next three years, buoyed by global secular trends driven by the increase in data and compute needs, cloud migration, data security ...

FAAA announces 2024 awards finalists

KARREN VERGARA  |  WEDNESDAY, 9 OCT 2024
... Wealth Partners' Jakob Ayres, Bravium's Kirra Sharrock, and Verse Wealth's Simone Vasnaik are the finalists for the FAAA Gen Next Rising Star of the Year. The awards also highlight outstanding university students that represent the bright future of the ...

Market has priced in 'too many' rate cuts

ELIZA BAVIN  |  WEDNESDAY, 9 OCT 2024
... current slowdown. Therefore, we expect the Fed to deliver two more 25 bps rate cuts this year, for a total of six cuts by next year." Boothe said the US economy is on good footing and improvements will flow through the start of 2025, but there are concerns ...

Pride Advice acquires two Adelaide-based firms

MATTHEW WAI  |  TUESDAY, 8 OCT 2024
... and fewer younger people entering the profession, there's never been a greater need for sound and trusted advice." AZ Next Generation Advisory (AZ NGA) acquired Pride Advice in 2015, which had $180 million in assets under management at the time. ...

Rest chief investment officer departs

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
... first chief investment officer and, after nearly five years at Rest, has decided now is the right time to move on to his next opportunity," Doyle said. "I want to recognise and thank Andrew for the work he has done to create a strong foundation for the ...

Commonwealth Bank shakes up executive leadership team

ANDREW MCKEAN  |  WEDNESDAY, 2 OCT 2024
... Commonwealth Bank has overhauled its executive leadership team after two senior members signalled their intent to retire next year. Commonwealth Bank chief risk officer Nigel Williams and human resources group executive Sian Lewis will both step down ...

GSFM welcomes new chair

MATTHEW WAI  |  WEDNESDAY, 2 OCT 2024
... the staff and executives at GSFM and the board, we wish Andrew a wonderful retirement, and all the best as he starts this next chapter in his life."