Insurer TAL has announced it has taken a minority stake in investment manager Challenger.
The Financial Services and Credit Panel has made a written direction after advice regarding non-concessional contributions meant an individual was forced to withdraw over $330,000 from their super.
Asset managers may be encouraged to diversify their product ranges and branch into the retail or intermediary market but, two consultants argue, they may find it more complicated and costly than they expect.
The US$837 billion fixed income manager has created a new head of asset-based finance role amid the rising client demand for asset-based financing and tailored investment solutions.
Platinum Asset Management has rejected a bid from PM Capital to acquire its two listed investment companies.
With Insignia Financial suffering a cyber attack on its Expand platform, this can potentially have a negative impact on the two private equity bids currently in play for the firm.
WT Financial’s new entity with Merchant, Investco, has entered into a heads of agreement to merge three financial advice firms.
Money Management understands Natixis Investment Managers is planning to launch its own private asset product for the Australian retail market.
Magellan’s infrastructure funds have reported gains for the second consecutive month, avoiding potential outflows associated with the exit of its sector head Gerald Stack.
State Street Global Advisors has made an equity investment in Ethic, a platform helping financial advisers to produce bespoke portfolios, reflecting the greater client demand for customised portfolios.
