Industry news

APRA names and shames underperforming super funds

The Australian Prudential Regulation Authority (APRA) will be looking for significant change from poorly performing superannuation funds, following the release of its MySuper heatmap. APRA’s heatmap of over a hundred MySuper products has outlined the worst performing funds but not…

New Investor has transformed to Inside Adviser

When you see our publication in your inbox or social media feed in the New Year it will have a new name. Next week, on December 18, we will publish our last issue of New Investor for 2019. We are…

APRA approves IOOF’s acquisition of OnePath

The Australian Prudential Regulation Authority has approved the sale of ANZ’s OnePath Pensions and Investments business to IOOF Holdings, bringing to a conclusion a transaction that has been in train for two years. In announcing its decision, APRA says IOOF…

ETF investors getting active

Investor preference is changing towards active exchange traded funds (ETFs) according to a new study. The latest Betashares/Investment Trends ETF Report found that 32 per cent of investors intend on investing in active ETFs in the next 12 months, up…

Pengana confirms loyalty benefits

Pengana Capital has confirmed that “loyalty benefit” that will form part of secondary offer for its Pengana Private Equity Trust. Units will be 1 per cent per $100 million raised. Pengana’s move follows the inclusion of a “loyalty reward” in…

Register to avert elder financial abuse

Federal and state governments have established power of attorney reforms as a further step to prevent financial elder abuse. The Council of Attorneys General has agreed to implement a mandatory national online register of enduring power of attorney documents and…

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…

MySuper heatmap to be extended to Choice products

The prudential regulator’s announcement of a superannuation performance heatmap is causing a stir, especially the issue of its extension to Choice products. The Australian Prudential Regulation Authority (APRA) has confirmed its plans to publish a heatmap of over a hundred…

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…