Nearly all Australian advisers open to using smart beta
The majority of financial advisers working in Australia would consider investments in smart beta strategies, a new survey by asset manager VanEck has found.
Industry
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Harry Potter star loses £1m legal battle against HMRC
British actor Rupert Grint has lost his battle against HM Revenue & Customs (HMRC) for a £1m (€1.17m, $1.3m) refund after a court threw out his appeal to protect his earnings from the top rate of tax.
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Guernsey’s Providence fund goes into administration
The Royal Court of Guernsey has appointed Deloitte as administration managers to Providence Investment Funds and its manager Providence Investment Management International Ltd (Pimil) after all of the directors of both companies resigned last week.
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Korean insurer Hanwha to pump $134m into Indonesian expansion
Hanwha Life, South Korea’s second largest life insurer, is set to pump KRW150bn (£102m, €121m, $134m) into its Indonesian arm in a bid to expand its foothold in the country’s booming insurance sector.
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Abu Dhabi and S. Africa regulators sign partnership deal
South Africa’s Financial Services Board (FSB) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) have agreed to collaborate more on regulatory matters and facilitate the exchange of information between the countries.
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STM sees bumper July following Qrops fee waiver
Waiving the establishment fee for new qualifying recognised overseas pension schemes (Qrops) saw STM Group’s new business applications hit their highest level for 12 months in July.
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Generali clinches life insurance licence in Philippines
Italy’s largest insurer Generali has been granted a licence to operate as a life insurance company in the Philippines, according to local media reports.
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Standard Life posts rise in offshore bonds, expands in India
Standard Life has reported a small rise in assets held in offshore bonds on its wrap platform as part of its strong set of half year results for 2016, which also included details of the company’s expansion into India’s private pension market.
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PEOPLE MOVES: OMGI, BNP Paribas, First Names Group
Old Mutual Global Investors has replaced its China-focused fund manager who stepped down last month, while BNP Paribas Investment Partners has named a new advice head for Australia and New Zealand. First Names Group has filled its vacant chief executive role.
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LGIM’s profits slip despite rise in international assets
Legal & General Investment Management’s profit slipped by a marginal 3% to £171m in the first half of the year versus the same period in 2015.
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Old Mutual sells Italian business to Cinven for €278m
Old Mutual Wealth has agreed to sell its Italian business to European private equity firm Cinven for €278m (£236m, $308m).
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Key figures resign from Panama’s tax evasion investigation
Nobel Prize-winning economist Joseph Stiglitz and Swiss anti-corruption expert Mark Pieth have resigned from an international committee investigating offshore tax evasion due to government interference, it has been revealed.