New Investor Featured

Active managers had a shocker last year

Only a small percentage of active Australian equity fund managers were able to beat their benchmarks last year, in the worst year for active managers over the past five years. The best results were in the mid and small-cap sector.…

Have we reached peak SMSF?

The value of assets held in self-managed superannuation funds fell last year, in another sign that SMSFs may have lost some of their appeal as retirement savings vehicles. The Australian Prudential Regulation Authority reported yesterday that assets in SMSFs fell…

Trawalla backs ex-Macquarie team’s boutique

Three founding members of Macquarie Group’s Asian listed equities division have re-joined forces to establish Stonehorn Global Partners and launch the Stonehorn Asia Equity Fund. Sam Le Cornu, the former co-head and head of investments of Macquarie’s Asian listed equities…

LIC market: sector consolidation gathers pace

Century Australia shareholders voted yesterday in favour of a proposal to merge their company with another listed investment company, WAM Leaders. The two companies announced plans to merge in November, with WAM Leaders to acquire 100 per cent of Century’s…

Boutique manager to de-list LICs

Watermark Funds Management has embarked on a complete overhaul of its business, moving to convert one of its listed investment companies to an unlisted unit trust and proceeding with plans to withdraw from global equities altogether. The company, which has…

MLC Wealth slashes platform fees

MLC Wealth has made a number of changes to the pricing of its Wrap, MasterKey Super and Pension Fundamentals products, claiming administration fee reductions of up to 50 per cent. From February 4, the administration fees for MLC’s retail Wrap…

Takeovers Panel puts the brakes on LIC acquisitions

The Takeovers Panel has put a stop to John Bridgeman Ltd’s takeover of Henry Morgan Ltd and Benjamin Hornigold Ltd, citing unacceptable circumstances. It has issued interim orders, telling JBL to stop processing acceptances received under each bid. It says…

Platform providers face ‘the great compression’

Specialist fund administration providers will continue to take market share away from the incumbents but their earnings will come under significant margin pressure, according to a new report. Macquarie Securities has produced a study of the sector, titled ‘The Great…

FSC extends Life Code consultation

The Financial Services Council has extended the consultation period for its revised Life Insurance Code of Practice to January 31, saying a number of submissions are still being finalised. The FSC has re-written the Code it introduced in 2016, which…

Adviser education pathway finalised

The Financial Adviser Standards and Ethics Authority has finalised its adviser education requirements, yesterday releasing FPS001 Education Pathways Policy. Under the policy, the maximum requirement for a new entrant will be an approved bachelor degree of 24 subjects. The minimum…