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Three of the big four banks have passed on the latest rate rise in full, as the repayment gap between existing customers on variable mortgage rates and new customers widens.
After failing the superannuation performance test last year, Colonial First State brought in a global asset manager to advise on how to improve its super funds.
Some of Australia’s largest superannuation funds are being urged to review their partnerships with an environmentally friendly investment manager facing backlash for sponsoring a climate-sceptic foundation.
A climate risk assessment of CBA’s home loan portfolio found that $32 billion in mortgages is located in areas exposed to increasing risks of extreme weather events and $14 billion is located in communities heavily reliant on the demand for coal.
Ahead of a Treasury review of the financial advice sector, industry super funds say they want to be able to provide cheap advice to retirees about how much money they need to retire and how long the will money last.