Hirst to replace Hazelton as AMP chair
AMP has named former Bendigo and Adelaide Bank chief executive Mike Hirst as chair, replacing Debra Hazelton who is retiring after this year’s AGM.
iExtend appoints chair
iExtend has appointed the founder of AMP’s private capital business Peter Cassidy as chair of its board.
SMSFs outperform APRA-regulated funds in market downturn: Research
University of Adelaide research has found that SMSFs outperformed ARPA-regulated super funds in a period of market downturns.
FSC recommends lifting investor test threshold, grandfathering
Research released by the Financial Services Council has found that in less than a decade, almost a fifth of Australian households would be eligible to buy wholesale products without retail consumer protections, leaving them potentially vulnerable due to not properly understanding the associated financial risks.
Australian funds well placed to go head-to-head with global giants: IFM
The unique characteristics of the Australian superannuation system position funds to compete on a global stage for the best long-term investment opportunities, even against funds that are many times their size. But despite the advantages, David Whiteley of IFM Investors argues it will take a collective effort by pensions and sovereigns and some long-term planning to fully exploit the potential opportunities.
‘Retirement is hard’: AusSuper finalises plans for guaranteed income
Half a million AustralianSuper members will retire in the coming decade. To help them prepare and meet its retirement income covenant obligations, the nation’s largest fund will shortly unveil a new product in partnership with life insurers and is urging Treasury to make the system simpler to navigate.
REST ups impact and alternative allocations via agriculture fund
Retail workers industry fund REST has ramped up its impact and strategic alternatives allocations through an investment in the agriculture focused Cibus Fund II.
TAL unveils course program for its Risk Academy
Life insurer TAL has announced the 2024 course program for TAL Risk Academy, an education platform for financial advisers, professional year candidates, and support staff.
Count acquires offshore service company Solutions Centric
Advice network Count has acquired Solutions Centric, an Australian company that provides offshore accounting, tax and SMSF services out of India.
Jeremy Cooper joins Bennelong board
Former Challenger retirement income chair and lead of the eponymous Cooper Review under the Rudd government, Jeremy Cooper, has joined Bennelong Funds Management as non-executive director.
Court rules Block Earner crypto product needs AFSL
Fintech company Block Earner has been found by the federal court to have engaged in unlicensed financial services conduct when offering its crypto-backed Earner product.
Aware Super chair: Tech investment essential to avoid member ‘tragedy’
Aware Super chair Sam Mostyn told the Investment Magazine Chair Forum that if funds can’t support members well enough as they move into retirement, they run the risk of being perceived as “just big rapacious engines” and no better than the banks and insurers of the early 2000s. Allianz Retire+ director Bernie Ripoll and Equity Trustees Super chair Catherine Robson said funds can look to tech developments in the adjacent financial advice and wealth platforms space for inspiration.
