APRA locks in rate buffer amid stability risks

regulation/Policy-&-Regulation/interest-rates/markets/

| By Charbel Kadib |

The prudential regulator has opted to maintain its macroprudential settings, citing a “high degree of uncertainty” in the economic outlook.

AUTHOR

Charbel Kadib

Charbel is an experienced financial services journalist, previously serving as news editor of The Adviser and Mortgage Business. Prior to joining Money Management, he also covered defence and national security developments as news editor of Defence Connect, Cyber Security Connect, and Space Connect. Charbel graduated from the University of Notre Dame with a double major in politics and journalism.

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ETFs record ‘tepid’ growth in 2022: Morningstar

morningstar/ETFs/retail-investors/vanguard/

| By Jasmine Siljic |

Funds management

Despite exchange traded funds’ (ETFs) increasing popularity amongst retail investors, assets witnessed slower growth compared to 2021, growing 4.9% in 2022.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Westpac joins peers in revising cash rate outlook

westpac/interest-rates/RBA/inflation/

| By Charbel Kadib |

Funds management

The major bank has revised its monetary policy expectations off the back of the Reserve Bank's hawkish rhetoric.

AUTHOR

Charbel Kadib

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Praemium earnings up, fund flows down

investment-platform/Funds-management/financial-reporting/strategy/

| By Charbel Kadib |

Platforms & wraps

The investment platform has issued its first financial results update following the sale of its international business.

AUTHOR

Charbel Kadib

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Former CEO pleads guilty to dishonest conduct for cheating investors

ASIC/dishonesty-charges/

| By Rhea Nath |

Financial planning

A former director and CEO has pled guilty to two counts of engaging in dishonest conduct, with two further offences under consideration, for cheating investors of nearly $1 million.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Perpetual profits drop 55% after Pendal acquisition costs

Pendal-Group/Perpetual/Rob-Adams/financial-results/

| By Charbel Kadib |

Funds management

The asset manager has posted a 55% decline in net profit after tax as a result of costs associated with the Pendal acquisition.

AUTHOR

Charbel Kadib

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Pengana reports nil performance fees in 1H23

Pengana/financial-results/performance-fees/

| By Laura Dew |

Funds management

Fund manager Pengana Capital Group paid zero performance fees in the first half of the financial year despite positive performance, a “highly unusual” position for the firm.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Diverger plans scale increase to target advisers

Diverger-Limited/Nathan-Jacobsen/mergers-and-acquisitions/acquisition/

| By Laura Dew |

Financial planning

Diverger has added 160 self-licensed advice firms in the first half of 2022/23 as it targets achieving net revenue of $45 million in FY25.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Is ASIC litigating enough?

ASIC/Senate-Estimates/Joe-Longo/Sarah-Court/

| By Laura Dew |

Policy & Regulation

ASIC staff need to consider if they are taking on enough risk in choosing cases to litigate, according to chair Joe Longo, prompting a Senate committee to ask if it should re-adopt the ‘why not litigate’ mantra.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Clime Capital seeks M&A opportunity amid industry consolidation

Clime-Investment-Management/clime-capital/acquisition/M&A/financial-results/

| By Laura Dew |

Funds management

Clime Capital has indicated it could take up new M&A opportunities this year as the firm opts to hold onto cash rather than pay an interim dividend.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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