How Select director ‘turned blind eye’ to rogue sales practices; Did AMPFP breach its duty to consult on BOLR change?

Select AFSL sales agents, which was penalised by the Federal Court last week, undertook a ‘Refer a Friend’ program without the consent of referred persons that caused an insurance sales spike in Indigenous communities.

The changes brought in to adjust the BOLR policy were ‘simple’ and did not require extended consultation beyond a few days, according to a senior AMPFP executive.

The median balanced super fund option has managed to beat expectations for returns in the last financial year thanks to strong performance by equities and listed property, according to SuperRatings.

Cromwell Funds Management has entered into a merger implementation deed with Australian Unity Property Ltd.

With the belief that markets are oscillating between fragility and resilience, the investment manager has outlined three themes it expects to see in the third quarter of 2023.

Challenger has completed the sale of its Australian real estate business to Elanor Investors Group for $38 million, a reduction of $4 million, as the two firms form a strategic partnership.

Australia’s nascent tech sector was the leader in the last financial year while financials and materials, which make up half the ASX 200, saw slower returns.