MLC Life and Resolution Life Australasia to merge
Dec 11, 2024 · Nippon Life president Hiroshi Shimizu said the deal aligns with the company's intentions to continue to grow in the Australian life insurance industry and emphasised the merger's benefits for Australian consumers. "This merger demonstrates our commitment to delivering innovative products, exceptional service, and leading customer experiences in the Australian life insurance market," Shimizu said.
BNP Paribas secures Insignia mandate | Financial Standard
Dec 17, 2024 · BNP Paribas' Securities Services business has been appointed by Insignia Financial to provide custody and administration services. BNP Paribas said the mandate with Insignia, which holds $319.6 billion funds under management and administration, further strengthens its position in the Australian market.
Engage Financial launches practice management firm
Dec 11, 2024 · Engage Practice Management is led by directors Lena Ridley and Charles Blake, each bringing over 25 years of industry experience. Ridley, formerly the chief executive of Profile Financial Services, has an extensive background working with advice and accounting practices, Engage Financial said.
ANZ, OnePath settle $50m class action | Financial Standard
Oct 4, 2024 · ANZ and OnePath superannuation customers may be entitled to get their super back after Slater and Gordon secured a $50 million class action settlement.
JBWere partners to launch fixed income funds | Financial Standard
Dec 17, 2024 · "Australian investors allocated a record $6.26 billion to managed fixed income funds in the first half of the year," Saadie said. "Now, with the US Federal Reserve easing and inflation moderating, there is a timeliness to clients having access to expertly managed portfolios that deliver both global and domestic exposure and a strong defensive profile."
RBA 'paves way' for February rate cut | Financial Standard
Dec 11, 2024 · The Reserve Bank of Australia (RBA) surprised no one by leaving the official cash rate on hold at 4.35% at its final meeting of the year. While this was the ninth consecutive month the central bank has kept the cash rate steady, the decision was met with a more dovish shift in tone - giving experts optimism that a cut could be on the horizon early next year.
Financial Standard
AustralianSuper aims to five-fold $1.4bn Euro venture in five years MATTHEW WAI AustralianSuper has acquired a 50% stake in Oxford Properties Group's $1.4 billion European industrial and logistics portfolio, with the partnership to target up to $7.5 billion worth of high-quality warehouses over the next three to five years.
Con Michalakis jumps to Funds SA | Financial Standard
Dec 12, 2024 · High-profile Hostplus executive Con Michalakis has landed the top investment job at the $46 billion public sector investment manager. Reporting to Funds SA chief executive John Piteo, Michalakis will replace acting chief investment officer Matt Kempton who has led the investment team for the last six months.
Unemployment drops below 4% | Financial Standard
Dec 12, 2024 · "The participation rate fell by 0.1 percentage point to 67% in November, from the historic high of 67.1% in September," Taylor said. "Despite the fall, the participation rate was the same as a year ago, and 1.5 percentage points higher than March 2020."
TelstraSuper and Equip Super merger to go ahead
Dec 3, 2024 · The merger will create a combined profit-to-member fund with more than $60 billion in funds under management and over 225,000 members. Equip Super will be the go forward brand, with the TelstraSuper brand to be retired.