Legg Mason Western Asset Australian Bond Fund crosses one billion dollars in funds under management

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The Legg Mason Western Asset Australian Bond Fund has passed A$1 billion in funds under management, cementing its position as one of the leading Active Australian bond funds in the market. This actively managed Fund is designed to outperform the Bloomberg AusBond Composite 0+ Year Index and is ranked top quartile in its peer group* over 3, […]

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Powerwrap exceeding forecasts and showing steady growth

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Wealth platform Powerwrap Limited (ASX: PWL) last week announced its first full year results (unaudited) since listing. The company reported a strong platform revenue result of $16.3 million for the year, compared with $15.4 million forecast in the prospectus and 9% higher than the 2018 result of $14.1 million. Underlying EBITDA (excluding Share Based Payments) […]

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AMP continues to invest in risk management, appointing a dedicated Group Whistleblowing Officer

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AMP Limited has appointed Anne-Marie Paterson as its Group Whistleblowing Officer as it invests $100 million (pre tax) over two years above usual investment to further strengthen its risk, governance and controls. Ms Paterson is a senior legal practitioner who has joined AMP from CBA where she was the Executive Manager and Whistleblower Investigation Officer. […]

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La Trobe Financial bolsters executive team with 3 senior bankers

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La Trobe Financial, one of Australia’s leading non-banks, has announced the appointment of 3 senior bank executives to assist the company with planned growth. Since inking a partnership in December 2017 with Blackstone, the US$545 billion AUM New York based Alternative Asset Manager, La Trobe Financial has grown to over $9 billion AUM and sees […]

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AFA and TAL announce winner of 2019 AFA Female Excellence in Advice Award

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Dawn Thomas from Wealthwise is the winner of the 2019 Association of Financial Advisers (AFA) Female Excellence in Advice Award (the Award). The Award recognises outstanding female leadership in financial advice, celebrating women who are making a significant contribution to their profession, their community and their clients. The Award has been supported by TAL since […]

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Crypto exchange opens offering insured custody for traders and investors

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Australia’s latest crypto exchange and broker has launched at Barangaroo this week. Mine Digital CEO, Grant Colthup, believes Mine Digital will set a new standard in the Australian cryptocurrency market. “There is interest in cryptocurrencies as a new asset, however, there are continuing concerns about the secure storage of these assets. Given the institutional pedigree […]

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Whitehelm launches Australian version of successful global infrastructure fund

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Infrastructure investment specialist, Whitehelm Capital, has launched an Australia-domiciled version of its successful Europe-based Listed Core Infrastructure Fund to meet a growing Australian demand for truly defensive anchors for equity portfolios. The new Australian Whitehelm Listed Core Infrastructure Fund – Unhedged (the Fund) is a benchmark unaware strategy that aims to return OECD CPI + […]

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Another strong year of growth for RAIZ

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Raiz Invest Limited (“Raiz” or “the Company”) (ASX: RZI), a first of its kind mobile-led, consumer focused, financial services platform, has provided an overview of its FY19 financial results for the year to 30 June 2019. This should be read in conjunction with the annual financial statements to 30 June 2019. FY19 highlights vs FY18 […]

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Australian Ethical announces record profit of $6.5m, up 29%

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Financial highlights Net profit after tax attributable to shareholders of $6.5m (up 29%) Consolidated statutory net profit after tax of $6.6m Revenues of $41.0m (up 14%) Performance fee on Emerging Companies Fund $0.8m following strong investment outperformance Operating expenses of $31.8m (up 11.3%) Final ordinary dividend of 3 cents per share, fully franked; total dividend […]

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Advisers must avoid the managed account conflict trap

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Managed accounts are exploding in popularity due to the clear advantages they offer licensees and their clients, but leading investment research house Lonsec has warned that advisers are gambling with their business if they don’t address potential and actual conflicts associated with in-house managed account products. According to Lonsec, advisers must look for ways to […]

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