Page 32 - Knowledge Centre News Today

Asset managers set to take hit over next 5 years By Neil Griffiths 28 June 2021 The next five years will be “much tougher” than the last five for asset managers, according to a new report by Ernst & Young. EY’s latest global analysis on the future of the asset management sector suggests that firms will experience “potentially dramatic effects of profitability” on the back of the COVID-19 pandemic. “Monetary stimu...

Westpac sells asset finance arm By Annie Kane The major bank has offloaded another of its specialist businesses to a non-bank lender. Westpac has confirmed that it will sell its motor vehicle dealer finance and novated leasing businesses to Angle Finance, a portfolio company of Cerberus Capital Management. Westpac’s auto finance businesses comprise retail auto loans originated through more than 250 auto dealer groups, strategic alliance agreements w...

New super changes ‘a major win’ for Australians By Neil Griffiths 28 June 2021 Colonial First State says the new superannuation changes, coming into effect on 1 July, will boost retirement savings for millions of Australians. The super provider has cited the planned SG increases and expanded concessional contributions as the key to the boost in new analysis, which will best assist Millennials who can make an extra $650,000 ...

Speed of economic recovery exceeding ‘all expectations’: Frydenberg By Neil Griffiths Treasurer Josh Frydenberg says Australia’s economy is recovering far quicker than expected. Delivering a keynote speech at the launch of the latest intergenerational report in Melbourne on Monday, Josh Frydenberg said that while COVID has presented a number of challenges, “the speed of our recovery to date has exceeded all expectations”. The latest report,...

HESTA appoints new GM to fund  — 1 minute read HESTA has announced a new appointment to the position of general manager responsible investment. Kim Farrant, who most recently worked as head of ESG at Hostplus, will work within HESTA’s investment management team to “progress the fund’s responsible investment strategy and broader impact ambitions”. “HESTA has pioneered an award-winning impact investment program and responsible investment framework that contribute positive...

Aviva Investors boosts emerging markets team  — 1 minute read 28 June 2021 The global investment manager has appointed three new staff to its emerging markets debt team as it builds out the asset class as an “important building block” of its fixed-income business. In a statement, Aviva said it had appointed Amy Kam as a new senior portfolio manager for its emerging market corporate bond strategy. The group said Ms Kam had over a decade of experience in...

Equip, Catholic Super tie-up reaches final phase By Reporter 28 June 2021 The super fund has said that its members will benefit from a significant drop in fees as the final step of its joint venture with Equipsuper comes into effect later this week. In a statement, Catholic Super said members would receive investment fee reductions of up to 20 per cent as a result of its “groundbreaking” tie-up with industry fund Equip. “...

The government’s Financial Regulator Assessment Authority bill has passed in Parliament this week.

Climate change impacts to drive investment returns: BlackRock By Neil Griffiths 16 June 2021 The COVID-19 pandemic has created an increased focus on climate change and sustainability, according to global asset manager BlackRock. In its latest weekly market commentary, “What lies beyond the restart?”, the BlackRock Investment Institute (BII) noted the pandemic as a key investment implication moving forward. BII said the pan...

Trends that will shape the remainder of 2021 By Anna Stupnytska 16 June 2021 As we move towards the halfway point of 2021, some key trends are emerging that will shape markets and economies for the remainder of the year and well into 2022. While any predictions remain subject to the vagaries of the battle between virus and vaccine, one thing is clear – the global response to the COVID-19 pandemic has set the stage for a histo...