Financial Standard
WEBFinancial Standard provides trade news and education for superannuation trustees, financial planners, industry professionals and investment managers.
Future Super acquires Aon's super business - Financial Standard
WEBDec 22, 2021 — Trustee services for the fund are provided by Equity Trustees. Future Super said the acquisition puts it on track to reach $10 billion in funds under administration, management, and advice in 2022 and $30 billion by 2030. The acquisition is due to complete in February 2022. The Aon smartMonday team will …
J.P. Morgan rolls out global accounting services
WEBSep 23, 2020 — J.P. Morgan rolls out global accounting services. J.P. Morgan has begun moving its Australian customers over to its global accounting system, which will give local clients access to additional services. The move to the new accounting system, FIS' InvestOne, has been a multi-year project and seeks to deliver enhanced, globally consistent ...
Super fund restructures, adds new roles | Financial Standard
WEBMar 31, 2022 — As part of this, Carrie Norman will move into the newly created role of chief member officer. Norman is currently executive, member services. "As an exceptional and experienced leader, Carrie will further advance how legalsuper plays to its strengths, armed with deep insights into the needs and aspirations of people in the legal community, extending our delivery of high quality and ...
Settlement approved in AMP shareholder class action
WEBNov 15, 2023 — BY JAMIE WILLIAMSON | WEDNESDAY, 15 NOV 2023 12:46PM. The $110 million settlement that was reached in the long-running fees-for-no-service class action against AMP was approved by a judge yesterday. The class action was filed in June 2018 and came on the back of misconduct made public by the Royal Commission.
AustralianSuper, LUCRF push ahead on merger - Financial Standard
WEBNov 8, 2021 — AustralianSuper, LUCRF push ahead on merger. The boards of $7.4 billion LUCRF Super and $230 billion AustralianSuper have approved a Heads of Agreement as they continue to advance discussions towards a merger. This agreement follows the successful completion of due diligence by the two funds and their respective advisers.
UniSuper, Australian Catholic Super exploring merger
WEBDec 1, 2021 — The $11 billion Australian Catholic Superannuation has committed to explore a merger with $105 billion industry fund UniSuper. The two funds signed a Memorandum of Understanding to explore a potential merger, which would see Australian Catholic Super and Retirement Fund (ACSRF) members folded into UniSuper.
Australian economic growth slows, IMF maintains positive outlook
WEBJan 22, 2024 — Australian economic growth is slowing due to tighter macroeconomic policies and financial conditions, but the International Monetary Fund (IMF) maintains a robust outlook. In an annual review of Australia's economy, the IMF reported a decrease in economic growth from 3.7% year-over-year in 2022 …
New bill seeks to block investments involving Cbus
WEBAug 22, 2024 — "A super fund is not involved in the design, construction, or approval of any of these projects," he said. "Once the settings are right and agreed upon, a super fund would be the provider of debt funding to the relevant party, such as a community housing provider, rather than the recipient of HAFF project funding. "This new proposal is akin to saying a super fund should not be able to buy ...
La Trobe takeover confirmed - Financial Standard
WEBMar 21, 2022 — BY CHLOE WALKER | MONDAY, 21 MAR 2022 12:38PM. Following speculation, Brookfield Asset Management has announced an agreement to acquire La Trobe Financial for $1.5 billion. The valuation includes a contingent payment tied to the business achieving certain performance milestones. La Trobe Financial is currently owned by Blackstone, which owns 80 ...