InvestorDaily

InvestorDaily

InvestorDaily

Earlier in January, BlackRock – the world’s largest asset manager – joined Climate Action 100+, a group that pressures companies to divest from fossil fuels. It marked a massive change for the investment giant, whose record on climate change has been shaky at best. BlackRock supported just five of 41 climate proposals at company meetings through 2019, and was more likely to support management at fossil fuel companies, according to advocacy group Majority Action.

In fact, BlackRock voted against all of Climate Action 100+ resolutions, meaning their joining the group must have been awkward. To be a fly on that wall. But we probably shouldn’t hold past sins against them. After all, Larry Fink seems to get it. It’s rare, even within the growing ESG community, for somebody to wrap their head around the huge impact that climate change will have on not just money, but the world. “Will cities, for example, be able to afford their infrastructure needs as climate risk reshapes the market for municipal bonds?” Mr Fink wrote in his letter to CEOs.

The rest of this article can be found at investordaily.com.au.

InvestorDaily

Asset manager Aberdeen Standard Investments has partnered with financial advice platform HUB24 as it attempts to combine digital tools with adviser input to deliver better customer outcomes. In a statement, Aberdeen said it will also provide a range of managed portfolio solutions on HUB24’s platform to help advisers meet client savings accumulation, investment and retirement income needs. It said it plans to provide HUB24 with the first customised solution to support advisers to better serve clients, followed by a solution for employers who want to give employees tools to better manage their finances and access to cost-effective financial advice.

Further, Aberdeen said another offering that helps advisers provide customised retirement income solutions will be made available in early 2021. Aberdeen Australia managing director Brett Jollie said the HUB24 partnership was a first step that would change the face of traditional financial planning and investing in Australia. “Not only does it provide a means for advisers to stay connected with more clients, it will also provide advisers with the tools to support more clients with their long-term savings. Baby boomers about to retire need reliable and personalised retirement income solutions,” Mr Jollie said.

The rest of this article can be found at investordaily.com.au.

InvestorDaily

Investment Magazine

Australia’s superannuation industry recovered in 2019 with the global equity market, posting the biggest return since 2013. The median growth fund, where the bulk of Australian super assets are allocated, returned 14.5 per cent for the calendar year, according to an estimate compiled by Chant West. A 24 per cent rally for domestic equities in 2019 and a gain of as much as 27 per cent in international shares boosted the results.

“Fund members will have every reason to be delighted when they see their end-December balances,” said Chant West senior investment research manager Mano Mohankumar. “It’s a much better result than what we could have expected at the start of the year and a major turnaround from a year ago.” The results come as the prudential regulator increases its focus on fund performance after publicly shaming the laggards of the industry when it published the results of its heatmaps last month.

The rest of this article can be found at investmentmagazine.com.au.