AustralianSuper promotes international investments head to deputy CIO
AustralianSuper has promoted head of international investments Damian Moloney to the role of deputy CIO, effective 1 July. Based in AustralianSuper’s London office for the past five years, Moloney had direct responsibility for the build out of the European and US offices, a key part of the fund’s global growth strategy. Moloney will continue to
June 28, 2023
Merger of two Adelaide Count advisory firms
Adelaide-based advisory firms, Crosby Dalwood and Warnecke & Co, will merge and be rebranded as Count Adelaide from July 2023. The two businesses bring over 70 years of combined experience in providing accounting and wealth advisory services to South Australians and will be led by managing principal Peter Burrows. The development follows Count’s recent company
June 28, 2023
Half of advisers authorised to write MyNorth Lifetime: AMP
Around 50 per cent of Australian advisers are now authorised to write MyNorth Lifetime under their approved product lists and Lifetime accounts have been written by advisers operating under more than 30 different licensees. In a press release from North parent company AMP, the number of advisers using MyNorth Lifetime has grown by 20 advisers
June 27, 2023
MSC appointed by abrdn for trusteeship
MSC Trustees has been selected by global investment manager abrdn to assume trusteeship and responsible entity duties across its Australian fund book. The book comprises 10 registered funds and $1.5 billion funds in management and the appointment will commence from the start of the upcoming financial year. In a media release from MSC Trustees on
June 27, 2023
Government to end ASIC levy freeze
After releasing the final report of the ASIC Industry Funding Model, the government has decided to end the ASIC levy freeze put in place in 2021. The freeze was put in place by the Coalition government in August 2021 after ASIC initially estimated advisers would need to pay a flat fee of $1,500 per license plus
June 26, 2023
ISA, IFM announce Combet replacements
Industry Super Australia and IFM Investors have both appointed chairs to replace Greg Combet who departed to lead the new Net Zero Economy Agency. ISA chair Former NSW Treasurer under the Nick Greiner Liberal Premiership (and not the former PwC partner) Peter Collins has been appointed as chair of the board of ISA. Collins joined
June 26, 2023
ASIC calls on super trustees to better deal with received member money
ASIC is calling on superannuation trustees to ensure they are meeting their legal obligations for dealing with incoming money from consumers if a new or increased interest in a super product cannot be issued by the next business day. In a media release on Tuesday, ASIC said the call follows a review conducted by the
June 26, 2023
Trio of Betashares ETF hit $3b FUM milestone
A group of three Betashares’ flagship ETF funds – it’s ASX 200 (A200) and NASDAQ 100 (NDQ) trackers, and Australian High Interest Cash fund (AAA) – have recently each passed $3 billion in Funds Under Management. In a media release, the Betashares noted the milestone is significant because only 11 of the 330+ exchange-traded products
June 26, 2023
Rest appoints WTW to board
Industry super fund Rest has appointed Willis Towers Watson as its asset consultant to its board and board investment committee. In a media release, the fund said the appointment will bolster the independent advice within Rest’s investment governance framework. The appointment followed a competitive tender process that began in October 2022. WTW will commence the
June 26, 2023
Kaplan launches ‘MBA-style’ corporate workshops
Education provider Kaplan Professional is launching a national series of corporate workshops designed for leaders in financial services who recognise the need to adapt to the changing post-pandemic workplace dynamics. The series of MBA-style face-to-face workshops will begin next month in Sydney. The workshops are targeted for business solution managers; lead project managers; product development
June 23, 2023
Aware Super reconfigures high growth options
Industry super fund Aware Super has introduced an actively-managed high growth socially conscious option and high growth indexed option to complement its core high growth actively managed option. In an update from the fund on Friday, it said more than 5,000 members have already moved about $340 million of their super into the two new
June 23, 2023
Morrison Securities pays $333k infringement notice
Morrison Securities has paid a penalty of $333,000 to comply with an infringement notice issued by the Markets Disciplinary Panel. In an update from ASIC, the regulator said the MDP had reasonable grounds to consider that Morrison contravened Rule 5.9.1 of the ASIC Market Integrity Rules (Securities Markets) 2017 on six occasions on 27 October
June 22, 2023
