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ME Bank profits rise in FY20
ELIZABETH MCARTHUR  |  THURSDAY, 17 SEP 2020
Despite all the challenges of 2020, ME Bank has managed a positive full year result with the bank determined to stick to its simple model. The bank had a statutory NPAT of $80.8 million in 2020, up 20% on last year's results. Its underlying NPAT was ...
Watermark sheds market neutral fund
KANIKA SOOD  |  THURSDAY, 17 SEP 2020
The Sydney boutique is handing over its $36 million market neutral fund to another manager, as it looks to focus on its long/short strategies. The Watermark Market Neutral Trust, which has been running for eight years, will transition to Dalton Street ...
Aware Super joins forces with Dutch pension fund
ALLY SELBY  |  THURSDAY, 17 SEP 2020
Recently rebranded Aware Super has entered into a partnership with the largest pension provider in the Netherlands, APG, to expand a serviced apartment chain across major European capital cities. The asset owners announced the agreement with City ID ...
Industry fund reveals new mandates
JAMIE WILLIAMSON  |  WEDNESDAY, 16 SEP 2020
An industry superannuation fund has overhauled its investment strategy, terminating and replacing several managers in the process. Following the recent termination of AMP Capital as investment manager for its Balanced Socially Responsible option, as ...
Melbourne boutique raising $70m for new fund
KANIKA SOOD  |  TUESDAY, 15 SEP 2020
An impact investing boutique owned by a family office and led by a former JBWere executive is raising $70 million for a new fund. Impact Investment Group's latest fund, the Impact Alternatives Fund, is targeting 6% to 10% per year in returns (before ...
Australian Ethical rejigs insurance
ANNABELLE DICKSON  |  TUESDAY, 15 SEP 2020
Australian Ethical has made a raft of changes to the terms and conditions in its superannuation insurance offering. The ethical super fund has issued a significant event notice to its members outlining the changes to default death and total permanent ...
Rapper charged over crypto scandal
ALLY SELBY  |  MONDAY, 14 SEP 2020
US rapper and actor T.I. is one of five individuals charged over his role in a fraudulent cryptocurrency offering, after the Securities and Exchange Commission found he had promoted and sold tokens on his social media accounts. Clifford Harris Jr, better ...
Legalsuper appoints executive, increases premiums
JAMIE WILLIAMSON  |  MONDAY, 14 SEP 2020
The $4 billion industry super fund has welcomed a new executive manager of member experience formerly of Cbus . It comes as the fund prepares to also increase insurance premiums for its almost 40,000-strong membership. Carrie Norman has joined legalsuper ...
AustralianSuper welcomes Rio Tinto departure
ELIZABETH MCARTHUR  |  MONDAY, 14 SEP 2020
AustralianSuper chief executive Ian Silk was among those to commend the departure of Rio Tinto boss Jean-Sebastien Jacques following the Juukan Gorge scandal. Rio Tinto announced Jacques would be stepping down on September 11, following a review of ...
ASX-listed fintech to buy Wirecard
ELIZA BAVIN  |  MONDAY, 14 SEP 2020
An ASX-listed fintech has launched a capital raising to acquire Wirecard's Australia and New Zealand business. Change Financial, a US-focused fintech company, announced it has entered into a binding agreement to acquire all of business assets or Wirecard ...
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