Industry Updates

GQG added to CFS platform

The GQG Partners Wholesale Global Equity Fund is now available on the CFS FirstChoice platform.

‘Buy now, pay later’ consultation open

The government has commenced a consultation process for regulating ‘Buy Now, Pay Later’ (BNPL) products.

Gender diversity a priority for fund managers

The 2022 Financial Services Council (FSC) Diversity Survey found 20 of its global and domestic fund manager members want to improve diversity in investment teams.

Fortnum launches business optimisation service

Australian financial services licensee Fortnum Private Wealth has launched a business optimisation service to help advisers materially improve their businesses’ quality, profitability, and capital value.

Stonepeak and Spirit Super acquire GeelongPort

Alternative investment firm Stonepeak and Australian industry super fund Spirit Super have acquired GeelongPort, Victoria’s second-largest port and a significant driver of the state’s economy.

Perpetual head of equities resigns

Perpetual head of equities Paul Skamvougeras has resigned and will be replaced by Vince Pezzullo.

Zurich enters partnership agreement with Wests Tigers

Life insurer Zurich Financial Services has partnered with NRL team Wests Tigers, including sponsorship of the Zurich Centre, a new state-of-the-art training and administrative facility.

Consumer financial wellbeing slipped slightly over the last year

Savvy, an online financial broker, has released the Financial Wellbeing Report: The Changing State of Australians’ Finances, which reveals the latest findings on how the nation’s population has fared financially over the past three years.

RI managers performing in line with ERIG Index

Responsible Investment (RI) tilted Australian equity funds tracked the index during the September quarter, according to the most recent update from the Evergreen Responsible Investment Grading (ERIG) Index.

Sally Loane appointed as chair of Destination NSW

Former Financial Services Council chief executive Sally Loane has been appointed as chair of tourism body Destination NSW.

Number of advisers steadying

The profession has seen a net departure of three advisers this week with the total number on the ASIC Financial Adviser Register sitting at 15,899.

Pendal/Perpetual still working on deal ‘despite what you may have read in the press’

Perpetual’s proposed acquisition of Pendal has seen both parties agree to advised terms in the arrangement.

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