The A$1 billion sale of OnePath by ANZ is at risk of being stranded in a minefield of internal and external conflicts, caught between doing the right thing by members of the OnePath fund versus obtaining the best deal for shareholders of ANZ, as well as looking after the advisers that will support the fund in future. read more
Insurance, funds and super (146 items)
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Bank-owned and industry funds failed to understand and effectively deal with the ramifications of the introduction of MySuper, evidence from yesterday’s royal commission hearings suggests. read more
With less than a fortnight to run before the start of the fifth round of hearings for the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, wealth management major IOOF and its subsidiary, Questor Financial Services, have been caught up in a barrage of demands for omitted documents. read more
ANZ has updated the market on progress towards the sale of its former OnePath pensions and investments business, and its aligned dealer groups, to IOOF. This follows on from a move first announced in October 2017. read more
Briefs: OnDeck backed by Credit Suisse, Skilton confirmed as NZ Homes CEO, Productivity Commission defends best in show proposal
OnDeck Australia, a subsidiary of US-listed online lender OnDeck Capital, has closed a A$75 million asset-backed revolving credit facility with Credit Suisse (USA). read more