Industry Updates

HESTA, IFM Investors acquires stake in EV subscription company

HESTA and super fund-owned investment vehicle IFM Investors has acquired a stake in subscription vehicles company Splend Group.

Bain Capital matches CC Capital bid for Insignia

Bain Capital has made a revised offer to take over ASX-listed wealth giant, Insignia Financial, matching the offer from CC Capital last week. 

Government establishes regulatory grid

The government has established the Regulatory Initiatives Grid, aiming to better streamline and coordinate regulation in the financial sector to help build a more competitive, dynamic and productive economy.

NESS Super partners with Otivo for digital advice service

Electro-technology profit-to-member fund NESS Super has partnered with digital advice provider Otivo.

Growth super funds on track to finish CY24 with 11 pc gain: Chant West

The median growth option in super funds are on track to finish the 2024 calendar year with an 11 per cent gain, according to the latest estimate from research house Chant West.

REST appoints people and culture leaders

Super fund REST has appointed two general managers to lead its workplace culture and employee experience development. 

Mason Stevens acquired by private equity firm

Private equity firm Adamantem Capital has entered into a binding agreement to acquire wealth platform Mason Stevens.

Insignia rejects $2.7b Bain Capital bid

ASX-listed Insignia Financial has rejected the non-binding $2.7 billion offer from Bain Capital, saying the bid "does not adequately represent fair value" for shareholders. 

NZ Super appoints former Future Fund CIO to board

Former Future Fund chief investment officer Sue Brake has been appointed to the NZ Super board.

AIA Australia and CFS renew group insurance partnership

Life insurer AIA Australia has announced that it has renewed its partnership with Colonial First State to continue as its group insurer. 

IAM appoints former ASIC Commissioner as non-executive director

Income Asset Management has appointed Danielle Press to the board as a non-executive director.  

Morningstar hires new principal of super research

Morningstar has hired William Anglingdarma as principal to lead the research house's superannuation coverage. 

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