NAB now has the second-largest super fund in Australia
After it merged five superannuation funds, NAB now has the largest superannuation fund in Australia, the MLC Super Fund. The MLC MasterKey and Plum offerings combined - about $70 billion in funds under management - has created the largest retail super fund, and the second-largest super fund, in Australia.
Infocus launches automated advice tool
Infocus Wealth Management has released its direct-to-consumer automated financial advice tool, earnie.com.au. Earnie.com.au offers consumers a free, flexible, simple tool to help them meet their financial goals by managing their own investments, and getting chat-based advice when they need it.
ANZ ETFS launches new European blue chip ETF
ANZ ETFS Management (AUS) has announced the launch of an exchange traded fund (ETF) that will give Australian investors access to Europe's leading companies via the ASX. The ANZ ETFS EURO STOXX 50 covers 50 of the largest stocks from 12 European countries.
Cbus signs ESG commitment
Cbus is the first Australian organisation to sign the Principles of Responsible Investment's Global Statement on Investor Obligations and Duties. The commitment takes into consideration long-term investment value drivers, including environmental, social and governance issues, which if ignored, were a failure of fiduciary duty.
Stockspot reduces automated advice fees
Stockspot, an automated investment advice firm and fund manager, has reduced fees for everyone on its platform, and completely removed annual advice fees for portfolios under $50,000. The decision was made after growth of the company, and a desire to encourage more Australians to invest.
Preliminary IOOF investigation over
ASIC has finished up its inquiry into IOOF Holdings and its subsidiaries after issues were raised by a former employee regarding insider trading. The ultimate finding was that no material effect on relevant securities occurred, and there was no further evidence to warrant a formal investigation.