News

While the market is broadly underweight China, South African-based Foord Asset Management is confident that President Xi Jinping’s economic plan for the country will bear fruit over time.

The need to balance three key and “sometimes-competing” goals in the energy transition is central to the success of global efforts to decarbonise, but the challenge also presents ample room for opportunity, Paul Johnston of Ausbil Asset Management recently told participants at The Inside Network’s industry-first ESG Retreat in Tasmania.

It now sits aside recycling, reducing energy consumption and using biodegradable products as one of the most common methods of making a positive impact according to research from Australian Ethical and Investment Trends.

The Treasury has released for public consultation draft legislation aimed at closing a tax loophole for off-market share buybacks, prompting renewed fears over the future of franking credits despite assurances that mum-and-dad investors will not be affected.

The Chinese government’s announcement of less onerous isolation guidelines prompted markets to rally in anticipating of a move away from zero-COVID policies. While significant short-term challenges remain, market sources say renewed growth may be in sight, representing future opportunity.

The NSW Supreme Court on Thursday ruled Perpetual would be on the hook for more than just a $23 million break fee should it abandon its bid to takeover rival fund manager Pendal Group, likely scuttling recent advances by a Regal Partners-led consortium for Perpetual itself.

The collapse of the fifth largest cryptocurrency exchange, joining a growing list of crypto casualties this year, has raised serious doubts about the asset class. Observers say more rigorous oversight is coming.

Combined cash profits from Australia’s big four banks increased 6.5 per cent to $28.5 billion in FY22, delivering a bumper year ahead of a looming deterioration in economic conditions.

The US$10 trillion-plus exchange-traded funds market offers low-cost access to diversified investment opportunities, and Australian investors are capitalising, making A$10 billion in returns over the past year.

With inflation, interest rate hikes and other economic stress weighing heavily on Australian households, key recent data show consumer sentiment approaching new lows while overall spending continues to climb.

The continuation of an economic world built on linear consumption, LGT Crestone’s Rachel Etherington says, will further burgeoning social and economic issues that threaten to destabilize the global system.

The world’s second-largest economy remains handicapped by zero-COVID policies, hampering iron ore demand. Sean Sequeira, Australian Eagle Asset Management chief investment officer, discusses the longer-term outlook amid increasing inflation pressures.