Industry news

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…

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…

Investors swear off margin loans

The global financial crisis continues to haunt investors and their advisers, resulting in the lowest level of margin loans in over a decade. The latest Reserve Bank of Australia data reveals that margin lending is at its lowest level since…

The Inside Network enters the financial services events market

Peer-to-peer networking and innovative thinking will be two of the key principles behind The Inside Network (IN), the latest entrant to the Australian financial services education/events stage. The brainchild of Jamie Nemtsas and Drew Meredith, principals of the IFA firm…

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…

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…

Westpac promises brokers an improved mortgage process

Westpac’s changes to home loan underwriting has disrupted its growth and led to ongoing problems with mortgage lending. The implementation of a new expenditure verification tool has significantly affected lending volumes due to being “clunky”. As a result, the bank’s…