Macquarie Securities has recommended a shift to a more defensive Australian equity position in its model portfolio, suggesting that clients add gas and electricity company APA Group, real estate investment trust GPT, toll road operator Transurban, gold miner Ora Banda…
Welcome to Club Magellan
Magellan Financial Group is building on its “investor partnership” model with the initial public offering for its new listed investment company, the Magellan High Conviction Trust. Investors in some of its other funds will receive a “loyalty reward” of units…
Generous to a fault
Australians are generous when it comes to giving gifts, spending almost $20 billion a year – $1200 a year for every adult, according to new research. The Financial Planning Association is kicking off Financial Planning Week with the release of…
Stopping workplace age discrimination
Australians are staying in the workforce longer but they often encounter age discrimination in the workplace. A new guide tells them how to get advice and help. The ARC Centre of Excellence in Population Ageing Research (CEPAR) has produced a…
Unclear BOMAD arrangement ends up in court
Increased reliance on the bank of mum and dad to help young people get into a home has led to an increase in disputes involving family financing arrangements. Richard Gardiner and Robert Dickfos of law firm HopgoodGanim say a number…
Argo positions for a subdued equity outlook
Listed investment company Argo Investments has made a number of changes to its portfolio over the past year, as it seeks to maintain its profile as a source of sustainable and growing dividends. According to Argo’s 2018/19 financial report, it…
Single-asset SMSFs on notice
The Australian Taxation Office will contact more that 17,000 self-managed super fund trustees and their auditors, where the SMSF is holding 90 per cent or more of its funds in one asset or a single asset class. The ATO says…
Getting home downsizing right
Q: We have recently retired and are planning to sell our family home for something smaller. We are thinking of using the home downsizer scheme to top up our super but have heard there are a few traps for the…
CBA result shows banks stuck with rising costs, weak revenue growth
Faced with the prospect of low growth, a bank would look to keep the bottom line growing by cutting costs. Commonwealth Bank chief executive Matt Comyn says he wants to get the bank’s cost-to-income down but admits that in the…