It is “highly likely” that global advisory group Brite Advisors misappropriated client funds for its own purposes, the Federal Court has heard, as receivers examine the variance of $100 million in its accounts.
According to Calastone, 2023 was the first year since 2019 that Australian investors were net sellers of equity funds, as they turned their heads towards the promise of fixed income.
While fewer than one in five Australians consult financial advisers, the vast majority wish they could do more to feel in control of their personal finances, two new reports highlight.
Ahead of its half-year results next week, Magellan has reported a rise in funds under management for the third consecutive month, but outflows remain elevated.
Two potential side effects have been flagged around changes to the sophisticated investor test following a recent Treasury consultation, which could see thousands of investors no longer classified as 'wholesale investors'.
Wealth Data’s Colin Williams and the Financial Services Council’s CEO Blake Briggs are among industry commentators who have shared their insights into the impact of the Hayne royal commission changes.
Australia is at the forefront of active exchange-traded funds (ETFs) according to Zenith, despite statistics showing they have experienced heavy outflows.
A specialist Australian asset manager has been recognised as one of just eight firms globally, representing 8 per cent of asset managers surveyed, to be classed as an ESG leader by Morningstar.
Financial software firm Bravura has hired a chief people officer, fresh from transforming the culture at AMP.
Key performers emerging across Asia could see the region outperform the US market over the long term as a ‘growth de-synchronisation’ plays out, according to fund manager abrdn.
