Future Fund probed ANZ bond trading scandal
The Future Fund did its own investigations into the ANZ bond trading scandal, contacting market participants to get a sense of how it might have happened.
Financial Services
Getting the band back together: Behind banking’s extraordinary day
A series of cascading executive moves in one day, including a high-profile defection, are reshaping the top of the nation’s banks.
$1bn tied up in funds linked to Chiodo
The corporate regulator will seek to wind up a second fund after Melbourne property developer Paul Chiodo was raided by authorities.
NAB trades business banking boss for Canadian connection
The banking major is staring down competition from Westpac and CBA, which are vying for its top spot in business banking, where the profits are richer than home loans.
Advisers using managed accounts to grow client base
More advisers are directing client money into managed accounts but some in the industry question the benefits.
AOFM softens stance on ANZ
The federal government debt agency has met with ANZ bankers as it confronts refinancing a $80bn pile of Covid-19 debt, softening its stance toward the bank which was frozen out of all government bond deals.
‘There’s enough checks and balances on super funds’: Hostplus
Hostplus chief investment officer Sam Sicilia has pushed back against criticism heaped on industry funds over a lack of leadership accountability.
Fundies line up as investors chase ‘defensives’
The lure of defensive investments is well timed for the many managers rolling out reams of new income-focused strategies. But some are riskier than others.
Agribusiness dishes out hard lessons from tariff pain
Throughout the history of food trade, tariffs have followed. That’s why its worth listening to the cooler heads at the farm gate.
Super scare: As markets tumble, is your super setting OK?
Sharemarket turmoil and a grim outlook for investment returns is prompting many to question what effect all this will have on their superannuation.
Trusting your partner to manage your super? Avoid these horror scenarios
Most SMSFs are run by a couple, and when one behaves badly, the consequences can last long after separation or divorce.
Staley ‘had sex with Epstein worker’
The former boss of Barclays had sex with a member of Jeffrey Epstein’s staff in a New York apartment owned by the convicted paedophile’s brother, a court has been told.
Engage with world rather than hit back at US, says Westpac boss
Westpac chief executive Anthony Miller says the best answer to Donald Trump’s tariffs is to engage more with the rest of the world, rather than a retaliatory response to the US.
Super industry is ‘not equipped’ to meet retirement demands
Setting up a super system for the accumulation phase is easy compared with the demands of supporting members in retirement, an industry expert says.
ASIC puts payday lenders on notice
The corporate watchdog has sounded the alarm on payday lenders shifting vulnerable customers up to higher-value loans that provide fewer consumer protections, a day after lashing the super industry.
Super funds the ‘poster child for what goes wrong when governance fails’
ASIC chair Joe Longo has launched a major broadside at leaders of the superannuation industry that should send shockwaves across the sector.
Cashed up super sector ‘poster child’ for poor governance
ASIC chair Joe Longo has hit out at Australia’s $4.1 trillion superannuation sector for its failure to properly service its millions of members, calling it the ‘poster child’ for bad governance.
‘I got sent down rabbit warrens’: AusSuper sued for claim delays
ASIC is suing AustralianSuper for taking too long to process 7000 death benefit claims, with one one widow saying she only received her payment after making a formal complaint to the regulator.
ASX 200 trims falls; tech stocks pummeled
Australian stocks trimmed half of a sharp intraday fall as US futures rebounded after recession fears hit Wall Street. Brookfield begins Healthscope sale process. Brickworks takes a writedown on US operations. Polynovo shares drop after CEO sent packing.
Unions accuse APRA of super fund overreach
The ACTU has accused the prudential regulator of straying beyond its purpose and seeking to ‘all but run’ industry super funds.
ANZ woos clients with dinner, golf as deal work declines
Banking major ANZ invited about 250 high-valued clients to its annual three-day knees up in the Hunter Valley as it tries to halt the decline in deals market share.
PEP to broaden access of its Gateway fund beyond the rich
Pacific Equity Partners’ Gateway fund has been returning up to 20 per cent to wealthy investors in recent years and soon access is expected to be made available to a broader clientele.
Uneven fight: Can this green banker win against Trump?
It’s the most uneven match up. Canada is betting it all on a former central banker with almost no political experience to take on Donald Trump’s tariffs.
ASX 200 edges higher; Star’s hotel sale ramps up
Salter Bros understood to be leading race for Star’s Sydney hotel, as casino group reviews Bally’s last-minute offer. Stocks lift from six-month lows. Energy sector leads gains. Johns Lyng dives.
‘We’re quite vulnerable to shocks’, warns stockpicker Conn
Simon Conn is leaving Investors Mutual after 27 years. This is what he thinks about Trump, markets and government spending.
Inside the mission to pull Star casino back from the brink
Project Antares was the radical plan CEO Steve McCann had quietly been working on for months. It fell into place just as the casino was about to run out of cash.
Wanted: a minister who likes crypto
The crypto industry is mobilising ahead of the looming election to lobby for political backing, setting up a potential clash with ASIC over plans to regulate the sector.
SS&C reveals major Australian expansion plans
Through its novel deal with Insignia, US software and admin giant SS&C Technologies has big plans to become a major player in the Australian superannuation market.
My fund performance speaks for itself: Ten Cap’s Liu
Women work 10 times harder to prove themselves in funds management according to serial outperformer Jun Bei Liu.
‘I really don’t like recessions’: NAB’s Alan Oster draws the line
The big four bank chief economist has analysed and probed every data point over nearly four decades. This is what he has discovered.
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