Netwealth announces profit of $83 million. for 24 years
[ad_1] In an ASX announcement on Tuesday morning, Netwealth announced its full-year results for FY23–24, with the underlying numbers in line with those it reported in its June quarter results last month. Netwealth reported strong growth in net profit after…
Fortescue and Australia’s resources sector are at risk amid a slump in iron ore
[ad_1] Shares in the company have tumbled nearly 38 per cent since the start of the year, largely due to a slump in iron ore prices, leaving it among the worst performers in the S&P/ASX 200 index. Iron ore prices…
Markets are on edge amid fears of Iranian retaliation
[ad_1] Volatility in global equity markets appears to be re-emerging after the latest US warning of impending retaliation from Iran, which could include multiple attacks on Israel as early as this week. Speaking at a press briefing on Monday, August…
APAC represents a “huge” opportunity for private debt, experts stress
[ad_1] An analysis of plans to invest capital in alternatives over the next 12 months revealed private debt as a favorite among investors globally, with around half of investors noting that they intend to increase their allocation to the asset…
Australian assets under custody exceed $5 trillion
[ad_1] Assets under custody rose 5.7% to $5 trillion in the six months to June 30, 2024, according to findings from the Australian Custody Services Association (ACSA). This represents a modest increase from the previous period, when assets under custody…
CBA increases dividend amid a slight profit drop in full-year results
[ad_1] In an ASX announcement on Wednesday, CBA said its statutory NPAT came in at $9.48 million for the full financial year, down 6 per cent from last year’s record result. The decline in NPAT, CBA explained, was due to…
Japan’s ‘excessive’ sell-off prompts funds to call for calm
[ad_1] Investment managers attributed a “constructive” outlook for Japanese stocks amid heightened investor anxiety following the market’s double-digit declines in early August. Buoyed by macro and systemic trade amid fears of a US recession, the Bank of Japan’s (BOJ) surprise…
Magellan’s profit shows signs of stability despite ‘challenging few years’
[ad_1] In its full-year results released on the ASX on Wednesday, Magellan Financial Group reported a 2 per cent rise in adjusted net profit after tax (NPAT) to $177.9 million. Statutory NPAT was reported to have risen 31 percent to…
Fiducian reports 10% FUMAA growth, optimistic outlook
[ad_1] In its full-year results released on the ASX on Thursday, Fiducian reported a jump in gross revenue to $80.8 million from $73.3 million a year earlier. Statutory net profit after tax (NPAT) was $15 million, up from $12.3 million…
Fears of a US recession lead to the rotation of stock funds in August
[ad_1] Of the 220 respondents to Bank of America’s (BofA) Fund Managers Survey (FMS) from August, nearly 1 in 2 (47 percent) respondents agreed that a weaker global economy is guaranteed over the next 12 months, with optimism for China…