|Magellan Financial Group reported a 78% jump in its profit for the financial year ending June and announced a $275 million institutional raise for MFG shares this morning.|
|A Sydney small caps boutique has signed an exclusive retail distribution agreement with Zurich Investments and has also won the mandate to manage Zurich's $60 million small companies fund.|
|Praemium saw funds under administration hit $16.1 billion over the last financial year, thanks largely to its off-platform managed accounts service.|
|Challenger subsidiary Fidante has lost $3.9 billion in funds under management at the expense of superannuation funds increasingly internalising their investment strategies.|
|Clime Capital has settled a Federal Court class action in principle for an agreed sum of $8.3 million.|
|An activist short-seller has valued Rural Funds Management's agricultural fund as "ultimately worthless," alleging it is falsifying accounts and over-inflating assets.|
|Activist short-seller Muddy Waters is shorting Burford Capital, YouTube fundie Neil Woodford's second largest holding in his embattled fund.|
|Platinum Asset Management reported $108 million in net outflows in July, including $54 million net that flowed out of its trust funds during the month.|
|Reporting a 50% drop in wealth management profits, AMP conceded chief executive Francesco De Ferrari's remuneration will have to be reconsidered in light of share price tumbles.|
|Commonwealth Bank's overall remediation and compliance costs have hit $2.2 billion, dragging its full-year June 2019 results.|
A new superannuation fund hoping to bridge the retirement savings gap will launch with the hope of disrupting the system that has disadvantaged women.
The general manager of superannuation and retirement solutions at a $57 billion industry fund has resigned, with the hunt commencing for a replacement.
Praemium saw funds under administration hit $16.1 billion over the last financial year, thanks largely to its off-platform managed accounts service.
OnePath has moved to enhance the abilities of financial advisers using its OneView Life client management portal.
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