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Nuveen brings US private credit strategy to Australia

Nuveen/private-credit/private-markets/fund-launch/bonds/fixed-income/

| By Rhea Nath |
Funds management

Nuveen has announced the launch of a new private credit fund for Australian wholesale investors in response to “strong interest” from family offices and HNWIs for private markets solutions.

AUTHOR

Jones announces further details on DBFO

Stephen-Jones/quality-of-advice-review/legislation/financial-advice/

| By Maja Garaca Djurdjevic |
Policy & Regulation

Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best interests duty and reforming Statements of Advice.

AUTHOR

Keystone AM to be wound up, advisers under investigation

ASIC/

| By Laura Dew |
Financial planning

ASIC has confirmed it is investigating the financial advisers who recommended investors to invest in the Shield Master Fund, as the responsible entity Keystone Asset Management is to be wound up.

AUTHOR

ASIC lifts the lid on internal dispute resolution complaints

ASIC/IDR/complaints/

| By Rhea Nath |
Financial planning

The corporate regulator has shared details on how many investment and advice complaints were reported under the internal dispute resolution data reporting framework in FY24.

AUTHOR

‘Like winning the Grand Final’: Entireti’s Younger on AMP deal completion

amp/AZ-NGA/Fortnum/Neil-Younger/AFSL/licensees/financial-advice/

| By Laura Dew |
Financial planning

Entireti chief executive Neil Younger has shared the responsibility and privilege he feels as the head of Australia’s largest advice licensee, and how he aims to prevent attrition as it integrates AMP advisers.

AUTHOR

AFCA and FAAA at odds over causes of industry failure

AFCA/Sarah-Abood/phil-anderson/Dixon-Advisory/CSLR/

| By Laura Dew |
Financial planning

The FAAA and AFCA are in disagreement regarding how much of an industry collapse, such as Dixon Advisory, relates to product failure and how much relates to advice.

AUTHOR

Asset managers vie for slice of robo-advice pie

Robo-advice/M&A/high-net-worth/fintech/PwC/

| By Rhea Nath |
Funds management

Global asset managers are seeking out acquisitions and strategic partnerships in the area of technology and robo-advice to benefit from an evolving wealth management landscape and futureproof their business.

AUTHOR

Netwealth passes $100bn FUA milestone

netwealth/platform/financial-advice/matt-heine/

| By Laura Dew |
Financial planning

Two months after reporting its highest-ever quarterly growth, Netwealth announced it has passed $100 billion in funds under administration.

AUTHOR

Magellan debuts first long-short product

Magellan/equities/Alternatives/

| By Rhea Nath |
Funds management

Magellan has announced the launch of its first long-short product, its third fund arising from its strategic partnership with Vinva Investment Management.

AUTHOR

Aussie managers bring 2 equity funds to market

global-equities/australian-equities/equities/fund-launch/OC-Funds-Management/

| By Rhea Nath |
Funds management

OC Funds Management and PAN-Tribal Asset Management have both launched equity funds, investing in Australian mid-caps and global equities, respectively.

AUTHOR

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