Data from ASIC’s Moneysmart has found that Gen Z (aged 18 to 26) women are more likely than Gen Z men (87 to 77 per cent) to be severely stressed about the cost of living, while the generation as a whole reported feeling overwhelmed by finances and money.
Aware Real Estate, a subsidiary of Aware Super, is set to develop 135 apartments in Sydney inner suburb Zetland as the fund expands its built-to-rent portfolio.
For all of the perceived and actual benefits of AI – and there are many, and they are significant – there are risks and a much greater need for great governance, clear accountability and robust safeguards. The methods for introducing AI models to businesses don’t necessarily follow traditional innovation paths, which presents another set of challenges, says KPMG responsible AI lead Melinda Rankin.
The concern is the US office downturn could turn into a systemic financial crisis because so much debt needs renewing when US 10-year Treasury yields are about 4 per cent compared with less than 1 per cent in 2020. That means we can expect more write-downs in super portfolios.
The Federal Court has approved Count’s scheme of arrangement for its proposed acquisition of ASX-listed company Diverger.
Magellan Financial Group has nabbed Maple-Brown Abbott’s top executive Sophia Rahmani as managing director of its asset management business.
As institutional investors turn away from the “divest and forget” approach to more active engagement, Australian Ethical chair Steve Gibbs said funds should not restrict their efforts to companies or assets they are invested in, but realise they have influence around periphery too. CareSuper chair Linda Scott said divestment was still an appropriate tool at times, but Mine Super chair Christina Langby urged an orderly transition in those cases.
HUB24 has remained the top investment platform for advisers, according to research firm Investment Trends.
Life insurer Zurich has extended its partnership with the Melbourne Football Club men’s and women’s AFL teams for another three seasons until 2026.
DASH Technology Group has posted a close to 50 per cent jump in its investment platform’s funds under administration for the 2023 calendar year.
UniSuper has acquired a warehouse, logistics and manufacturing greenfield development site in Deer Park, Melbourne for $260 million.
Almost four years after the previous Morrison government unveiled its seminal Your Future Your Super reform package, the controversial “stapling” measures aimed at denting the default system are starting to alter dynamics as funds with younger demographics reap the rewards. But analysis of APRA data shows overall account creation is not declining as intended.
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