Auscap now available on Macquarie Wrap
Auscap Asset Management's Auscap Long Short Australian Equity Fund is now available on the Macquarie Wrap platform in the investment manager and super manager menus.
AZ Sestante enters Australian market, launches three new funds off CFS platform
An Italian wealth management firm, Azimut Holdings, subsidiary AZ Sestante has entered the Australian marketplace via three new funds inside Colonial First State's platform. The funds include the AZ Sestante Wholesale Conservative, AZ Sestante Wholesale Diversified, and AZ Sestante Wholesale Growth funds.
AMP improves MyNorth
AMP has made improvements to its super and investment platform, MyNorth. The new and improved platform has increased efficiencies. Enhancements include:
- Managing multiple client activities at the same time is now more efficient
- Partial transfers are now more flexible
- Customers can access client records, statements and account summaries
New CBA climate bond
The Commonwealth Bank of Australia has issued a new $650 million Certified Climate Bond, the largest issued by an Australian bank to date. Proceeds are to fund 12 Australian clean energy and low-carbon projects, including renewable energy via solar, wind, energy efficient buildings and low-carbon transport projects.
Financial Advisers Consultative Committee set up by ASIC
ASIC has established the FACC to improve industry engagement with ASIC so as to facilitate better understanding of the industry and issues that impact it, and enhance ASIC's response to emerging trends. FACC members are practicing financial advisers, and consist of:
- Craig Banning
- Chris Brycki
- Steven Dobson
- Mark Everingham
- Tony Gillett
- Adam Goldstein
- Kevin Smith
- Jennifer Brown
- Cathryn Gross
- Suzanne Hadden
ASIC issuing 50 super funds with questions
ASIC has said it is ready to send out 50 notices to superannuation funds asking for explanations on their arrangements with contributing employers and insurers. All sectors are included. Compliance is compulsory, with funds having about six weeks to respond.
BT to merge 12 super funds
BT Financial Group is merging 12 superannuation funds into one big fund as it rolls out its Panorama platform. Four trustees will be combined into one, seven registry systems will become one, and over 50 wealth products will be combined into just three.
Barclays under the ASIC microscope for breaches
ASIC has accepted an enforceable undertaking from three Barclays entities, and has paid $500,000 to the Ethics Centre for breaches of ASIC conditions. ASIC was concerned that Barclays did not report breaches.