Industry fund launches SMSF product

Industry superannuation fund Hostplus is making a play for self-managed super fund business, offering access to assets “ordinarily unavailable to retail investors.” In what is claimed to be a first for the…

Financial planning divestments pick up pace

Less than a week after Commonwealth Bank announced the sale of Count Financial Planning, MyState has revealed plans to plans to get out of the personal financial planning business. The acquirers, CountPlus…

People: Frontier bulks up its consulting team

ANZ New Zealand chief executive David Hisco has left the company after a review of his personal expenses. He had held the position since 2010 and has been with ANZ for over…

Taking ESG beyond impact investing

For fixed-income investors, understanding environmental, social and governance (ESG) factors – as they are financially material to performance – has proven to be critical in assessing an issuer’s fundamental quality. In our…

The future of insurance is insurtech

The insurtech sector has grown by 53 per cent in the last year due to internationally founded insurtechs entering the market, accounting for 30 per cent of the ecosystem. according to the…

Inactive super account deadline looms

The Australian Taxation Office has issued an alert to superannuation fund trustees that they need to identify inactive low-balance accounts and be ready to report account details to the ATO. Tax office…

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Private equity challenges the public markets

Australian private equity and venture capital reached an all-time high last year as more businesses chose to stay private for longer, according to new research. The Australian Investment Council (AIC) 2019 Yearbook reveals that Australian private capital firms reached $30…

Tech sector buffeted by Hayne shockwaves

Financial services software developer Intiger is facing “trading challenges”, which it says are a consequence of the Hayne Royal Commission. Business has dried up as clients and prospective clients reassess their approach to personal financial advice. Last month, the company…

People: Bendigo and Adelaide veteran passes the baton

Jacqueline Hey has been appointed as chair of Bendigo and Adelaide Bank. She has been a member of the board since 2011 and was the chief executive of Ericsson in the UK and Australia. Hey is currently a non-executive director…

New Zealand’s search for an alternative to GDP

Last week’s wellbeing budget in New Zealand was based on the Livings Standards Framework (LSF), a set of wellbeing measures that include cultural identity, environment, income and consumption, and social connections. But these provide no overall index of the nation’s…

Legg Mason enters the ESG fray

Fund manager Legg Mason has moved to meet growing demand for ESG investment products, with the launch of a global fund that combines ESG analysis with a negative screen approach. The Legg Mason QS Investors Global Responsible Investment Fund is…

ASFA Retirement Standard put to the test

Grattan Institute chief executive John Daley took to the stage of the Actuaries Summit in Sydney this week to challenge one of the super sector’s widely used benchmarks – the ASFA Retirement Standard. The Association of Superannuation Funds of Australia’s…

Actuaries must broaden their role to cover non-financial risks

APRA deputy chair, John Lonsdale, has told the country’s actuaries that they must go beyond traditional financial risks and take on non-financial risk assessments in their work. Speaking at the Actuaries Summit in Sydney this week, Lonsdale said: “On the…