ASIC to let funds give limited advice…temporarily

A spokesperson for one super fund expressed concern that funds should not be advising members about switching options without taking their whole financial situation into account. Vamos and Reynolds, however, said that they hoped this latest ASIC measure would lead to longer-term reform enabling funds to give simple advice. The Financial Services Working Group currently has submissions on this issue before Treasury.

 

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As the Magnificent Seven fade, CFS looks further afield for returns

Colonial First State chief investment officer Jonathan Armitage says a shift away from reliance on US mega-cap tech stocks is reshaping portfolio resilience, with emerging markets, private debt and catastrophe bonds helping to drive returns across the portfolio.

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