John Kavanagh
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Another LIC folds

K2 Asset Management will close its listed investment trust, K2 Global Equities Fund, offering investors a transfer to the unlisted version of the fund or a final distribution. Trading in the listed trust, which listed in July 2015 and has…

Contrarian buys gold miners as a defensive position

Marc Christopher Lavoie and Robert Brunelle are contrarian equity investors, so naturally with the US market close to a record high they are taking a defensive stance. The problem is traditional defensive stocks are expensive too. The pair are among…

ATO clarifies its approach to investment in DomaCom funds

Fractional property investment company DomaCom has received clarification from the Australian Taxation Office about its approach to compliance when a self-managed super fund invests in a DomaCom sub-fund and where a related party of the SMSF may be a tenant.…

Push to remove complexity from advice rules

Australia’s accounting bodies have joined forces to advocate for a more efficient and better harmonised regulatory system for advisers. Three accounting bodies – CPA Australia, the Institute of Public Accountants and Chartered Accountants Australia and New Zealand – have launched…

Why Westpac’s sales calls were ‘personal advice’

In its case against ASIC over a telephone campaign promoting superannuation consolidation, Westpac argued it was sales and marketing, not advice. The Federal Court disagreed. “The dichotomy which Westpac seeks to establish in this case between advertising and marketing on…

Investor ‘loyalty’ programs growing in popularity

Pengana Capital will offer unitholders in its Pengana Private Equity Trust a “loyalty benefit” as part of an offer of new units in the ASX-listed trust. Pengana announced last week that it would offer additional units in Pengana Private Equity…

Foreign resident CGT: new bill, old problem

The Government has reintroduced a bill that removes the entitlement to the main residence capital gains tax exemption for foreign residents, with a significant change from the original 2018 bill. There were strong objections to the original bill from Australian…

Cash transaction bill goes to the Senate

A bill to limit the use of cash was passed in the House of Representatives last week and will now be subject to a Senate committee review before it is dealt with in the upper house. The bill has attracted…

Big name managers losing FUM

Some of the biggest names in investment management are suffering significant fund outflows, and for some it is becoming a chronic problem. Pendal Group reported net outflows of 2.3 billion in the September quarter, Perpetual had net outflows of $1.8…

Capital drying up for fintechs

Australian fintechs are finding it harder to get access to capital, with the economic slowdown and global uncertainties discouraging investors from backing start-ups. According to the latest EY Fintech Australia Census, 38 per cent of the 120 fintechs surveyed said…