John Kavanagh
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Property fund merger off, questions remain unanswered

Australian Unity Office Fund (AOF) and CHAB Office Trust have terminated their scheme implementation agreement, after AOF unitholders knocked back resolutions at a scheme meeting. Under the proposed scheme, CHAB would have acquired all the units in AOF – an…

ETF market ends the year with a bang

The ETF market is ending the year with a flourish, with Schroders launching an income ETF, BetaShares launching a range of four diversified ETFs and SelfWealth benchmarking top performing SMSFs to come up with a share portfolio. Schroders is launching…

CommInsure pleads guilty to hawking

Commonwealth Bank life and general insurer CommInsure has pleaded guilty to 87 counts of making “non-compliant, unsolicited” telephone calls to sell insurance products. CommInsure is in the process of refunding $12 million to 30,000 customers. CommInsure’s sale to Hong Kong-listed…

Comyn puts the finishing touches to his top team

Commonwealth Bank chief executive Matt Comyn has chosen a mix of talent from banking, telecommunications and IT for his overhaul of the bank’s senior ranks. In his latest move, Comyn has hired a South African banker to run CBA’s business…

ECP signs with Copia for a crack at the retail market

Multi-boutique asset management distribution group Copia Investment Partners has added ECP Asset Management to its stable, signing a partnership agreement with the Australian equity fund manager. Copia will provide exclusive retail distribution and marketing support for the listed investment company…

ATO gives its blessing to SMSF investment in fractional property

The Australian Taxation Office has provided a further update on the implications of the Aussiegolfa case, confirming its view that a self-managed super fund trustee could contravene the sole purpose test by investing in a sub-fund of the DomaCom Fund…

Minister to cede financial markets powers to regulators

Ministerial power to regulate financial market operators will be transferred to regulators, under proposed financial market infrastructure regulatory reform. The Council of Financial Regulators has issued a consultation paper, outlining proposed changes to the regulatory regime for market operators, benchmark…

Financial planners’ life expectancy models too simplistic

The Actuaries Institute has warned financial planners to check that the life expectancy tables they are using are best practice. It says much of the data that appears in legislation, on websites and in the media is simplistic and recommends…

Pengana invests in US asset manager

Fund manager Pengana Capital will take a “significant stake” in a US asset manager Lizard Investors – a specialist global small and mid-cap equity manager. Lizard and Pengana have had a joint venture since 2015, when Lizard became a sub-adviser…

Adding social impact to portfolios

With ethical investing well established in Australia, the next phase of development in the sector is providing investors with more than negative screens to remove “sin stocks” from portfolios. Social impact investing is now the cutting edge. One group pursuing…