Industry Updates

REST increases investment in real estate debt

REST has upped its investment in Australian asset manager Metrics Credit Partners’ Real Estate Debt Fund (REDF), which will be deployed into Australian commercial real estate loans across sectors including residential, industrial and specialised real estate assets. 

Bombora appoints growth manager to bolster risk network

Bombora Advice has appointed David Mounsey as business growth and development manager, a newly created role to strengthen Bombora’s risk specialist marketplace.

AMP appoints head of retirement solutions

AMP has hired Estelle Liu as head of retirement solutions, a newly created position as AMP bolsters its retirement capabilities. 

June adviser exam sees 70pc pass rate

Around 70 per cent of candidates have passed the 25th adviser exam, which was held in June, according to an update from ASIC. 

IFS and Kaplan partner on proposed education solution

Industry Fund Services and Kaplan Professional have partnered on a proposed education solution to develop future talent.

TelstraSuper returns 9.6pc in FY24 for default MySuper

TelstraSuper has posted a 9.6 per cent return for its MySuper Growth option in FY24, which is the investment option that applies to all members below age 50 who do not make an investment choice. 

Aware Super reports 11.02pc FY24 MySuper return

Aware Super has reported an 11.02 per cent return for its High Growth accumulation option in FY24, the default members aged 55 and under with the fund’s MySuper product, which has a lifecycle design. 

CFS posts double-digit returns for MySuper in FY24

Colonial First State has delivered double-digit returns in the FY24 for its MySuper balanced and growth funds. 

FAAA awards open for nominations

Nominations are now open for the 2024 Finance Advice Association awards, and members are encouraged to apply for an award themselves or to nominate fellow members who they believe deliver the highest standards of financial advice to Australian consumers while also serving their community.

AustralianSuper delivers 8.46pc MySuper return in FY24

The nation’s largest superannuation fund, AustralianSuper, has returned 8.46 per cent in its MySuper Balanced investment option, and 10.2 per cent for High Growth in FY24. 

Sequoia restructures reporting lines, announces staff reduction

Sequoia will streamline its divisional structure from four to two reporting divisions, as well as reduce headcount by 10 per cent.

iExtend gains AFSL

Life insurance policy extender iExtend has gained its AFSL after ASIC accepted a court enforceable undertaking from the business to apply for a license earlier this year.  

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