Compliance failures common in super fund advice to members

Less than half of the financial advice provided by superannuation funds to their members was fully compliant with advisers’ best interests duty and related obligations, a review has found. And a significant…

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…

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…

People: HUB24 puts a lawyer on the board

HUB24 has appointed Ruth Stringer as a non-executive director and a member of its audit, risk and compliance committee. Stringer is currently a consultant at Herbert Smith Freehills and prior to that…

The great wealth transfer: the risks and opportunities for advice firms

Australia, like the rest of the developed world, is on the verge of the largest intergenerational wealth transfer in history. It’s estimated more than $3 trillion will change hands over the next…

ASIC powers beefed up

The Hayne fallout continues, with the introduction into Parliament last week of a bill to give ASIC greater powers. Financial Sector Reform (Hayne Royal Commission – Stronger Regulators 2019 Measures) Bill 2019…

Today’s Best Videos 

Call for RBA rate cut ahead of ECB easing move

If the European Central Bank moves to another round of quantitative easing tomorrow (Thursday, European time) as widely expected, the Reserve Bank of Australia could be justified in making another cut to the official interest rate, although declining to do so yesterday, according to Matthew Peter, chief economist at global fund manager QIC….

Blog of the Week

Unicorns are not necessarily mythical beasts and Russian models may not be what they say they are, according to Sheridan Lee*, after attending a conference in Silicon Valley…

Another LIC rides the SMSF wave… this time a hedge fund

Queensland-based hedge fund managers Stuart McAuliffe and Simon Richardson are looking to raise $34 million for the latest listed investment company (LIC), which will actively manage ETF futures, under the brand ‘Henry Morgan’…

Ashton to launch new research firm: Evergreen Consultants

Angela Ashton, a well-known researcher and former fund manager, has set up a new independent research firm, Evergreen Consultants, which is looking to work with a limited number of “high-touch high-value” financial planning and dealer group clients…

Brisbane’s startup hub to double its capacity

Steve Baxter’s tech-orientated startup hub, River City Labs, plans to double in size within the next six months with a relocation in Brisbane to the heritage-listed TCB Building in Fortitude Valley…

How PM Capital analyses a ‘favourite’ stock

The PM CAPITAL Australian Companies Fund, run by portfolio manager Uday Cheruvu , is a benchmark-agnostic concentrated portfolio of between 20 and 30 stocks, which has achieved an annual return of around 11 per cent, since inception nearly 16 years ago…

OneVue adds seven funds and expands international range

Following the Australian launch of global fund manager brands such as ChinaAMC and Neuberger Berman, OneVue Group has announced a significant increase in the number of investment managers using its responsible entity (RE) services…