Financial Standard

Inquiry rips into Diversa: 'All profit, no responsibility'

KARREN VERGARA  |    12:46PM   Diversa Trustees deflected responsibility at a parliamentary inquiry that criticised its governance and structural problems, particularly its role in the failed First Guardian Master Fund, in which members invested about $240 million.

Nine in 10 advisers concerned about greenwashing: RIAA

RIDDHIMA TALWANI  |    12:45PM   A recent survey by the Responsible Investment Association Australia (RIAA) found that 94% of advisers have concerns about greenwashing or misleading sustainability claims made by investment products.

Norges Bank slashes exposure to US government bonds

MATTHEW WAI  |    12:49PM   Norges Bank Investment Management (NBIM), the investment manager of Norway's sovereign wealth fund, the Government Pension Fund Global, has proposed a major restructuring of the fund's exposure on US government bonds.

Perennial to close three responsible investment funds

VINNY VUCAGO  |    12:35PM   Perennial Partners will shutter three responsible investment funds that manage $140 million in combined assets, as they fall short of reaching scale and achieving their investment objectives.

AIA Australia rolls out TPD CORE

KARREN VERGARA   AIA Australia has launched TPD CORE, a new retail product that charges lower premiums and provides clearer claim assessment criteria for total and permanent disability (TPD).

Insurer sanctioned for over 10k breaches

MATTHEW WAI   The Life Insurance Code Compliance Committee has sanctioned a life insurer after it reported more than 10,000 breaches of the Life Insurance Code of Practice in relation to failure to provide timely, completed annual notices.

Half of Australians lack retirement plan: Vanguard

KARREN VERGARA   Nearly half of working-age Australians approaching retirement do not have a retirement plan, raising concerns about long-term financial preparedness and confidence, according to Vanguard.

New platform provides guidance for retirees

MATTHEW WAI   A new artificial intelligence (AI) platform has launched to fill a gap that is persisting for retiring members seeking purpose in the retirement phase.

Australian economy growth 'stronger than expected'

RIDDHIMA TALWANI   The Australian economy grew 0.4% in the June quarter, growing 2.1% in the year to June 2026.

CEDA warns migration cuts will have economic spillover

RIDDHIMA TALWANI   The Committee for Economic Development of Australia (CEDA) has warned while a dramatic cut in headline migration figures might be seductive, changes at scale will have a spillover in the economy including the labour market.

Treasury launches minimum tax on discretionary trusts draft legislation

KARREN VERGARA   Treasury has released draft legislation on the minimum tax it is set to impose on discretionary trusts from 1 July 2028.

Mulino unveils Financial Innovation Strategy

ELIZA BAVIN   Treasury is encouraging regulators to consider opportunities to develop targeted sandboxes in priority areas such as AI enabled financial services and digital financial market infrastructure.

LGT Wealth Management hires five advisers from rival

VINNY VUCAGO  |    12:38PM   LGT Wealth Management Australia has expanded its Syndey private client advisers' team with five senior hires from UBS Wealth Management.

Royal London AM hunts for next chief

MATTHEW WAI  |    12:16PM   Royal London is now searching for a new chief executive for its asset management business as Hans Georgeson steps down from the role after five years.

Sports no longer a sponsorship opportunity for super funds

MATTHEW WAI   ASFA head of research Ross Clare believes sports is becoming an important asset class for super funds, noting the dynamics in sports investment has transformed drastically over recent years, based on what he's observed at the ASFA Investment Summit 2026.

Superannuation assets inch to nearly $4.8tn

KARREN VERGARA   Total superannuation assets hit nearly $4.8 trillion in the last financial year, marking a 9% rise, namely driven by the rise of industry funds.

RBA consults on settlement infrastructure following Project Acacia

MATTHEW WAI   The Reserve Bank of Australia is consulting on its Reserve Bank Information and Transfer System's role (RITS) to support settlement in a tokenised ecosystem that was explored through Project Acacia.

SS&C wins mandate from Aussie boutique fund manager

RIDDHIMA TALWANI   Fundamental Investment Management, a Sydney-based boutique investment management firm, has mandated SS&C Technologies for its inaugural Fundamental Smaller Companies Fund.

HNWIs demand outperforming, mission-driven endowment funds

KARREN VERGARA   High-net-worth investors' (HNWIs) increasing demand for philanthropy vehicles with robust governance, a clear mission and can outperform in equal measure is helping fuel the rise of endowment funds such as the Aspect Impact Fund.

Family businesses turn to external chief executives: Deloitte

RIDDHIMA TALWANI   While family members will largely remain at the helm of family businesses post-succession, a Deloitte Private report anticipates a meaningful shift globally, with more businesses preferring outside professionals to step into the chief executive roles.