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Showing 1 - 10 of 97 results for "BT Funds Management"

BTFM, Asgard Capital fined $3m

KARREN VERGARA  |  MONDAY, 26 JUL 2021
The Federal Court will force BT Funds Management and Asgard Capital Management to pay $1.5 million each for charging fees for no service and making misleading statements. Between September 2014 and August 2017, the court found that the companies harmed ...

AMP loses default KiwiSaver mandate

ELIZABETH MCARTHUR  |  FRIDAY, 14 MAY 2021
... has been cut from nine to six. This resulted in AMP, ANZ and ASB being cut. Bank of New Zealand, Booster, BT Funds Management, Kiwi Wealth, Simplicity and Smartshares have retained their mandates. AMP Wealth Management chief executive Blair Vernon said ...

ASIC not recommending general advice change

JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
... ASIC's win over Westpac in the High Court in February, confirming that Westpac Securities Administration and BT Funds Management did provide personal financial advice in calls made to 14 customers regarding their superannuation. The research findings ...

Westpac to combine Advance super with BT Super

KANIKA SOOD  |  MONDAY, 15 FEB 2021
... member accounts (down 19% in two months). Average member had $58,000 in balance, according to APRA statistics. "BT Funds Management Limited...the Trustee of Advance Retirement Suite, has decided to transfer all member interests including the Advance ...

High Court dismisses Westpac appeal

JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
... in December 2018, with the Federal Court ruling that Westpac Securities Administration Limited (WSAL) and BT Funds Management (BTFM) had breached the Corporations Act when recommending customers rollover of superannuation accounts to Westpac/BT products. ...

New heatmap shames trustees

KARREN VERGARA  |  FRIDAY, 18 DEC 2020
The same underperforming and costly MySuper products APRA named and shamed last year have failed members again in the latest iteration of the heatmaps. APRA is taking action on 10 MySuper products overseen by eight trustees. It will issue notices for ...

Retail superannuation funds grilled on member priorities

KARREN VERGARA  |  TUESDAY, 24 NOV 2020
A parliamentary inquiry has again cast doubt over retail superannuation funds' ability to put the best financial interests of members ahead of profit and shareholders. The most recent Standing Committee on Economics into super heard instances of ...

World largest asset owners increase ESG, AUM

ANNABELLE DICKSON  |  TUESDAY, 17 NOV 2020
... Owner top 100 followed by Future Fund at 57th, Tcorp at 86th, Nulis Nominees at 89th, Aware Super 90th and BT Funds Management at 98th. The largest asset owner is the Government Pension Investment Fund of Japan with US$1.55 trillion in AUM followed by ...

Super fund overhauls performance on red rating

KARREN VERGARA  |  TUESDAY, 15 SEP 2020
... performance and relatively high fees based on APRA's heatmap metrics. Maritime Super, LUCRF Super, and several BT Funds Management products such as Asgard's Employee MySuper, BT Super for Life and Westpac Group Plan MySuper, were some of the ...

ASIC takes action against BTFM, Asgard, StatePlus

JAMIE WILLIAMSON  |  THURSDAY, 20 AUG 2020
ASIC has commenced Federal Court proceedings against BT Funds Management and Asgard over fee-for-no-service conduct and making misleading representations in relation to the fees. It has also launched a similar case against StatePlus. ASIC alleges that ...
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