AMP’s first-half profit dipped one per cent as Australia’s biggest superannuation provider warned financial market are likely to see ongoing volatility despite recent signs of improvement.
The Bank of Queensland is being sued for almost $400k in losses and damages in the first legal action linked to the collapse of Storm Financial. (Sydney Morning Herald)
Macquarie has begun an aggressive push into US funds management by buying Philadelphia-based funds giant Delaware Investments for $516m. (The Age)
The RaboPlus investing survey has found an alarming drop in the number of Gen Y’s enjoying investing, with those listing it as a hobby falling from 30 per cent last year to just 7 per cent now.