ESSSuper named top-performing balanced fund in FY23
Emergency services industry fund ESSSuper was the top-performing balanced super fund for the 2022-23 financial year, returning 13.3 per cent for its balanced growth option, according to researcher SuperRatings.
July 17, 2023
Intra-fund advice scope to creep beyond super
The Albanese government has given its strongest indication yet that it is open to a more radical expansion of intra-fund advice, with super trustees likely to be able to able to advise members on topics beyond their interests in the fund.
July 17, 2023
Nanuk appoints portfolio manager
Sustainable investment-focused fund manager Nanuk Asset Management has appointed John Lobb as a portfolio manager.
July 17, 2023
‘Great outcome’: CFS reaches $100m settlement in grandfathered commissions suit
Colonial First State will pay $100 million to settle a lawsuit claiming damages from grandfathered commissions and fees for no service. The outcome has been welcomed by applicants in the class action, despite the former CBA wealth arm not admitting any wrongdoing.
July 14, 2023
MA Moelis expands equity research team
MA Moelis Australia has appointed Paul Hissey and Tom Tweedie as executive director and vice president of its equity research team, respectively.
July 14, 2023
Where’s the conflict? Smaller AFSLs believe there is none
Less than a quarter of smaller licensees believe they have any conflicts of interests, according to research from Holley Nethercote. The results are completely inverse for larger licensees with just over a quarter believing they don’t.
July 13, 2023
Advisers push minister on ASIC levy
The advice industry has pushed back on the new levy imposed by the corporate regulator – but with advice practices reporting large profit margins and the expectation the QAR “quick wins” will help boost client loads – the complaints may fall on deaf ears.
July 13, 2023
Australian ETF industry breaks $150b barrier
The Australian ETF industry reached $150 billion in funds under management during June 2023, according to analysis of security exchanges ASX and CBOE by Betashares.
July 13, 2023
Business is booming: Near-50pc gains in advice revenue
Advice practices have added an average of $500,000 in revenue over the past two years, but there is a sizable gap in profitability between the best-performing and the average advice practice.
July 12, 2023
