BlackRock Investment Management is continuing to cull its portfolio of local exchange traded funds, announcing that it is terminating the iShares MSCI Taiwan ETF. BlackRock closed five iShares ETFs in 2018, including Singapore, Hong Kong and BRIC equity index funds.…
Industry news
Advisers to prove value with new tool
Financial advisers can tap into the specific needs, motivations and preferred interactions of potential clients by categorising them into four groups. Fidelity International’s latest report in conjunction with CoreData, The Value of Advice, reveals a ‘navigation style’ tool to assist…
Class acquires compliance technology company
Class Ltd, a leading provider of accounting software to the wealth sector, is diversifying its service offering with the acquisition of a compliance technology company. Class announced yesterday that it is acquiring a corporate compliance and documentation technology company Nowfinity.…
Metrics follows up NB credit fund raise
For the second time in a week a listed credit fund has launched a capital raising, underlining the popularity of the sector in a yield hungry market. Metrics Credit Partners’ MCP Master Income Trust aims to raise up to $638…
CML takeover battle nears resolution
Commercial finance company CML Group, which has been juggling competing takeover offers since December, says it will provide some clarity in a statement next week. CML has received offers from commercial finance broker Consolidated Operations Group and rival finance company…
Credit funds on a roll
Investment manager Neuberger Berman hopes to capitalise on strong demand for listed credit income funds, launching an offer of new units in its NB Global Corporate Income Trust. The offer, an entitlement offer and a shortfall offer, is targeting a…
Move over robo; advice goes ‘bionic’
HUB24 and Aberdeen Standard Investments (ASI) have partnered to launch ‘bionic’ advice tools in response to the adviser demand to service a wider range of clients more effectively. According to HUB24, around 41 per cent of Australians intend to get…
Tax deferral for bushfire victims
The tax office has extended its assistance measures for people affected by bushfires. Around three and a half million businesses, individuals and self-managed super fund trustees in impacted local government areas will have until May 28 to lodge and pay…
Court delivers mixed outcome for licensee over planner misconduct
Westpac has been held liable for the failure of one of its representatives to comply with their best interests obligations, in a court ruling handed down late last year. The bank was unsuccessful in arguing that the misconduct represented just…
Yellow Brick Road completes wealth divestment
Yellow Brick Road has sold the last part of its wealth business and is now operating as a specialist mortgage business. The company announced late in December that it had entered into a sale agreement with Sequoia Financial Group in…
