Mirae injects funds into Stockspot
Robo-adviser Stockspot has received a major strategic investment from asset manager Mirae Asset Global Investments.
Challenger bullish on insto annuity sales amid slow RIC progress
Challenger says inking deals with super funds to provide guaranteed income products to members remains a priority, as it reports institutional sales of $5.4 billion in FY23 and partnerships with Telstra Super and Aware Super. About half of super trustees are believed to have a longevity solution in place for members, with that number expected to grow as they race to meet their obligations under the retirement income covenant.
Members starting to switch due to poor experience
Research house CoreData says members with high account balances are starting to leave funds if they are not getting the level of service they expected. The data on member switching comes as regulators and the federal government pressure funds to improve customer service.
ASIC proposes to extend DDO instrument
ASIC is inviting industry feedback on a proposal to extend the operation of the ASIC Corporations (Design and Distribution Obligations Interim Measures) 2021/784 instrument for a further five years.
IFS partners with BCG to improve education & advice
Industry Fund Services has partnered with global consulting firm Boston Consulting Group to help improve how profit-to-member super funds find new ways to improve the delivery of financial education and advice.
Franklin Templeton launches its first alternatives fund
Investment manager Franklin Templeton has launched the Franklin K2 Athena Fund, its first alternatives fund.
MFS appoints head of operations in Australia & New Zealand
MFS Investment Management has elevated Josh Barton to the role of managing director and head of operations in Australia and New Zealand, replacing Marian Poirier, who will retire next year.
North partners with researcher Sandstone Insights
AMP’s investment platform North, which has recently surpassed $11 billion in assets under management (AUM), has partnered with research house Sandstone Insights to provide advisers with the latest equity research and analysis.
FSI appoints institutional distribution head
Investment manager First Sentier Investors has appointed Kevin Kandasamy as head of institutional distribution in Australia and New Zealand.
Commercial property woes re-shaping super portfolios
Asset owners are under pressure over their commercial property holdings, as they write down valuations and face headwinds including poor income growth, liquidity squeeze for portfolio managers and growing ESG risk.
BT appoints platform strategy head
Former BT head of platform simplification Russell Brinckley has returned to the business as head of platform strategy and development.
Active Super sued over ESG, Russia divestment claims
ASIC deputy chair Sarah Court says “competition among super funds for new members” inspired allegedly misleading claims by Active Super about its exposure to tobacco, fossil fuel and Russia-domiciled investments. The regulator has commenced legal proceedings against the fund formerly known as Local Government Super as part of its crackdown on greenwashing.
