John Kavanagh
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Montgomery fund downgraded

Morningstar has downgraded Montgomery Investment Management’s The Montgomery Fund to negative, with a recommendation that “Australian equity investors can find better alternatives.” The Montgomery Fund strategy is to buy high quality companies with strong growth prospects at cheap valuations. The…

ETF economies of scale an important consideration

Investors considering different exchange traded fund options will usually have a better outcome selecting a bigger ETF over a small one, according to new research. Morningstar has analysed the trading history of listed funds and found that big ETFs have…

Get ready for ‘consent management-as-a-service’

Data-related services will play an increasingly important part in the businesses of Australian financial institutions in coming years, as Open Banking takes hold. The passage of Consumer Data Right legislation last week has started a discussion about the impact the…

ASIC spells out ETF crackdown

The Australian Securities and Investments Commission confirmed yesterday that it has notified the ASX and other exchange market operators that it does not want them to admit certain types of funds, while it reviews the exchange traded fund sector. The…

Financial planner numbers in decline

The number of people licensed as financial planners fell by 1217 in the June quarter – a 4.8 per cent fall in overall adviser numbers. According to a review of the financial adviser sector by Adviser Ratings, the number of…

Insurance broker launches takeover offer

General insurance broker Steadfast Group has launched a takeover offer for IBNA Ltd, a network of insurance brokerages. The companies have entered into a bid implementation agreement, under which Steadfast will launch of off-market bid for up to 100 per…

Bankruptcies hit 24-year low

Despite ongoing concerns about high household debt levels, the latest personal insolvency statistics suggest that Australians are doing a better job of managing their finances. The number of bankruptcies fell 8.8 per cent to 15,329 in the year to June…

UCT extended to insurance contracts

The unfair contract terms regime will be extended to insurance contracts, under a legislative amendment the Government released for consultation this week. Unfair contract terms law was introduced in 2010, covering most sectors of that use standard from contracts in…

Cash economy crackdown

Cash transactions of $10,000 or more will be banned under a black economy crackdown detailed in new legislation. The government has released an exposure draft of a bill that restricts the use of cash and has called for submissions. The…

Russell enters the managed accounts market

Russell Investments has entered the managed accounts market with a suite of multi-asset portfolios, which it is pitching as active management at a “cost-effective price point”. Four portfolio options, ranging from conservative to growth, are made up of a concentrated…