Year: 2024

Technologies

Added new options to North’s investment menu

North has confirmed a further 18 options on its menu, which span stocks, property, bonds and technology. The additions come after North launched two peer-managed portfolio advice practices, Milestone Financial and Coastline Advice. InvestSense has been appointed as investment manager…

China’s economic measures could reduce Australia’s budget deficit, economist says

Deutsche Bank’s Phil O’Donahoe believes China’s economic measures will reduce Australia’s budget deficit as rising iron ore prices boost tax revenues. China, which consumes over 76 percent of the world’s seaborne iron ore, has a direct impact on Australia’s economy…

Magellan’s FUM stabilized, signaling a potential turnaround after tough times

At the company’s 2024 annual general meeting. executive chairman Andrew Formica announced that FUM had stabilized, with outflows slowing quarter-on-quarter throughout the financial year. “We have made significant progress in restoring business stability for our customers, staff and shareholders,” Formica…

Technologies

ANZ becomes first bank to issue Australian dollar stablecoin

ANZ Bank announced on Thursday the successful execution of the first-ever stablecoin payment issued by an Australian bank pegged to the Australian dollar via a permissionless public blockchain transaction. ANZ confirmed in a statement that it had delivered the stablecoin…

An economist says measured caution is warranted as the investment bank issues a gloomy forecast

The investment bank predicts the S&P 500 will generate a 3% annual nominal total return through 2034, after posting a 13% annual total return over the previous decade. Goldman Sachs’ reasoning is that the U.S. market is extremely concentrated —…

Technologies

UniSuper Unveils $75M Investment

UniSuper has committed $75 million to Uniseed to cover existing projects as well as new developments in industries of the future such as biotechnology, pharmaceuticals, quantum computing and green energy. In a statement confirming the transaction on Thursday, the $106…

AI integration is seen as a key revenue strategy for investment managers

Despite the growing size of the global investment management industry, recent findings point to the continued elusiveness of revenue growth and profit margin expansion. However, the potential of artificial intelligence (AI) to drive revenue growth is becoming increasingly apparent. A…

Technologies

ANZ’s flagship stablecoin opens doors to similar announcements

On Thursday, ANZ became the first Australian bank to issue a stablecoin through a permissionless public blockchain transaction. ANZ confirmed in a statement that it had delivered the stablecoin to the Victor Smorgon Group through Zerocap, a private digital asset…

The fund warns of market shocks if volatility and uncertainty collide

During this tumultuous month, both the Australian and US share markets experienced significant volatility. Although they have largely recovered lost ground, the IMF warned that the events of August should be seen as a warning of potential chaos if volatility…

A major central bank rate cut leaves the RBA running its own race

In the latest iteration of global central banks moving to cut interest rates, the Bank of Canada (BoC) announced a 50 basis point (bps) rate cut overnight, bringing the key rate to 3.75 percent. The move follows back-to-back cuts of…