The Australian wealth management firm has named a custodian for its MLC and OnePath businesses following an extensive tender process.
Experts believe rival licensee AMP and technology software firms could be next on the list for private equity firms looking to enter the Australian market.
Global real asset manager CapitaLand Investment has announced a key acquisition from Wingate as part of its growth strategy in Australia.
ASIC has announced its finalised industry funding levy, detailing how much licensees will have to pay for the 2023–24 financial year and how it compares to original estimates.
A legal expert has flagged there is growing tension in the industry as ASIC considers naming licensees in its breach reports, with such a move potentially deterring proactive self-reporting.
The potential $2.7 billion bid for Insignia from US private equity player Bain Capital could be hard for shareholders to resist and would “open the floodgates” for US firms looking at Australia, according to experts.
Income Asset Management has hired former ASIC commissioner Danielle Press to its board as a non-executive director as it launches corporate bond ETFs.
Betashares is to close three managed funds and three ETFs after they failed to secure sufficient assets.
November proved to be a standout month for international equities, with these ETFs witnessing nearly double the flows of the next closest category.
The FSCP has issued its second written reprimand this week against an adviser who provided incorrect advice to clients regarding the non-concessional cap.
