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08 August 2018 • By Tim Stewart • 1 min read

IOOF settles Provident class action for $44.25m

Australian Executor Trustees, the wholly owned subsidiary of IOOF, has agreed to pay plaintiffs in the Provident class action $44.25 million. The ...

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Forget about the FAANGs, says Lonsec

Although the FAANG stocks have some things in common, they should not be painted with the same broad brush, according to Lonsec Research

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CBA net profit down 4.8% to $9.23bn

The Commonwealth Bank has posted a net profit of $9.233 billion for the 2017–18 financial year, down marginally on the previous year due to a $700 ...

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Loss of trust in super could be a positive

The royal commission may well weaken public trust in superannuation, but it could also have the unintended consequence of increasing member ...

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Linchpin director resigns as AIOFP chair

Peter Daly, a director of embattled financial services firm Linchpin, has resigned as the chair and director of the Association of Independently Owned ...

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RBA keeps rates at 1.5% in August

The Reserve Bank of Australia has maintained the official cash rate at 1.5 per cent at its monetary policy meeting today. The RBA has announced the ...

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ASIC request to embed staff at major banks approved

The federal government has confirmed it will provide ASIC with additional resources to further monitor the big four banks and AMP. Treasurer Scott ...

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MLC kept super members in the dark on fees

MLC and its trustee, NULIS, failed to tell superannuation members they could dial back their “plan service fees” to zero, the royal commission has ...

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Invest in China from the ground up: Cerulli

With China making moves to allow for more and more foreign ownership of financial services firms, global fund managers may want to acquire smaller ...

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UCA Funds Management becomes a ‘B Corp’

Ethical fund manager UCA Funds Management has been recognised by an independent global body as an ethical and sustainable business. In a statement, ...

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