The world’s most popular cryptocurrency, Bitcoin (BTC), is set to hit a key milestone this year, with the anticipated halving event – set to occur within the next five days – and launch of spot BTC exchange traded funds (ETFs) earlier this year, culminating in unprecedented investor demand for the digital coin, according to a new survey by leading crypto exchange Binance. “We have not seen market conditions like this ahead of a halving event before, and this is driving a lot of excitement amongst market participants, with more than 70% of our Australian users eager to see the impacts,” said Be ..read more

ANALYSIS Having been the subject of questioning and some criticism by parliamentarians, the most senior executive ranks of the Australian Securities and Investments Commission (ASIC) will have altered dramatically by the middle of next year. The news yesterday that ASIC’s long-serving chief executive, Warren Day, will be departing his role tp join the Commonwealth Director of Public Prosecutions (CDPP) needs to be seen against the background of the other departures which have occurred over recent months, not least that of former deputy chair, Karen Chester. It must also be seen against the bac ..read more

Superannuation fund investment returns may yet hit double digits for the financial year, according to specialist ratings house, SuperRatings. With the median balanced option generating an estimated 1.9% return for March, bringing the year to date return to 8.8% SuperRatings said a double-digit return was possible depending on the outcome for the final quarter. SuperRatings executive director, Kirby Rappell said that returns had proved resilient over the year with consistent positive performance driven by both international and domestic equities. According to SuperRatings the median growth opti ..read more

A new whitepaper from active investment manager, Ninety One, has found the setting of net zero targets by portfolio companies has not achieved its intended purpose, with real-world emissions actually rising since 2015. The whitepaper, Net zero investing: Searching for returns and real-world change, authored by Sustainability Director Daisy Streatfeild, said while surveys and polls have indicated a large number of emissions reduction targets set by asset owners across portfolios or in certain asset classes, the MSCI Net Zero Tracker revealed emissions from listed companies have risen 22% in the ..read more

US-headquartered investment giant Franklin Templeton has unveiled new actively managed equity and fixed income exchange traded funds (ETFs) on the Australian Securities Exchange (ASX). The newly launched active ETFs give local investors access to two of the firm’s flagship managed funds: the Franklin Global Growth Fund (ASX: FRGG) and the Franklin Australian Absolute Return Bond Fund (ASX: FRAR). Franklin’s equities-focused FRGG “uses fundamental bottom-up stock analysis”, it said, to identify and select a diversified portfolio of globally listed companies “with revenue streams that are not hi ..read more

The Australian Securities and Investments Commission (ASIC) has announced a significant change to its most senior executive ranks with the regulator’s chief executive officer, Warren Day, departing and with his interim replacement Greg Yanco expected to exit next year. ASIC chair, Joe Longo said that he had accepted a request from the Commownealth Director of Public Prosecutions for Day to join the CDPP on secondment as the Director’s executive officer, effect from 1 June. He said that the executive director of Regulation and Supervision, Greg Yanco will be appointed interim CEO, effective fro ..read more

The Federal Government risks the recruitment of federal judges if it tampers with the taxation of their pension entitlements, according to the Law Council of Australia. Against the background of complaints about the possible changes to the taxation treatment from both serving and retired judges, the Law Council has warned a Senate Committee that senior lawyers may be dissuaded from moving to the bench if their pension arrangements are made less attractive. “Judicial pensions may be an important factor in enticing senior members of the legal profession to forgo often more lucrative opportunitie ..read more

AMP Limited’s most senior executives missed out on receiving long-term incentive pay-out last year and the company says there are no immediate plans to change or reduce existing potential remuneration levels. At the same time, the company has told shareholders that its advice business has continued to reduce costs and improve efficiency “as we make good progress to establish Advice as a sustainable, standalone and professional business”. AMP chief executive, Alexis George said the company remained focus in achieving break-even in advice, noting “we are continuing to look at alternate structure ..read more

The latest market analysis from Principal Asset Management for the second quarter of 2024 has warned central banks, especially the US Federal Reserve (US Fed), to “tread carefully” with its policymaking to achieve a soft landing. The manager’s Chief Global Strategist, Seema Shah, said the final leg of central banks’ wrestle with inflation and this tightening cycle will be “bumpy and unpredictable”. “Against that backdrop, small surprises in inflation can have significant consequences for the policy path and the economy. History clearly warns against cutting rates before inflation is on a susta ..read more

Peak super body The Association of Superannuation Funds of Australia (ASFA) has announced the creation of a new head of policy and advocacy function, with public policy specialist James Koval taking on the new senior role. Koval, in his new role, will oversee ASFA’s policy, research and advocacy program. ASFA chief executive Mary Delahunty said she was delighted to welcome Koval to its team, whom she said would “strengthen ASFA’s deep public policy expertise and further amplify the voices of our member organisations… and the 18 million Australians who rely on our members.” Koval joins from the ..read more