Latest Financial Services News

Suncorp has secured a disciplined FY27 reinsurance program featuring a $800 million annual aggregate cover over five years, while signalling higher reinsurance costs and a $250 million natural hazard cost overrun in FY26.

PEXA faces a proposed 20% cut in regulated ELNO service fees, risking a $70 million revenue reduction over a year. The company urges a phased approach to mitigate business impact as IPART opens public consultation.

Navigator Global Investments has finalised its US$190 million acquisition of a diversified portfolio from Stable Asset Management, establishing a strategic partnership to manage the new assets and expanding its alternative investment footprint.

Spenda Limited's SPXOB securities have been suspended from trading by the ASX due to non-compliance with listing requirements. The suspension affects only this security class, leaving other Spenda securities unaffected.

Centrepoint Alliance has finalised the $3 million acquisition of client books and advisers from Cairns Wealth and Pinnacle Wealth, expanding its salaried advice business and boosting recurring earnings.

BlackRock Investment Management (Australia) has announced the final cash distribution amounts for a broad suite of iShares ETFs, with payments scheduled for 13 July 2026.

Magellan Financial Group has finalised its merger with Barrenjoey Capital Partners, forming a diversified financial services group poised to rebrand as Barrenjoey Group Limited. The combined entity appoints Brian Benari as CEO and David Gonski AC as Chairman, signalling a strategic expansion across investment management, financial markets, and corporate finance.

Global X Management (AUS) Limited is trimming the management fee for its Australia 300 ETF (ASX: A300) by 25%, effective 1 July 2026, reflecting a subtle but meaningful cost saving for investors.

The Munro Climate Change Leaders Fund Active ETF (ASX: MCCL) has announced a final distribution of 298.916141 cents per unit for the year ending 30 June 2026, slightly below last year's payout. Key dates for investors include an ex-distribution date of 1 July and a payment date of 22 July.

WT Financial Group has completed the sale of its Vesta subsidiaries to Titan Advice Group, increasing its direct equity stake in TAG and advancing its multi-pronged Hubco strategy with further acquisitions and new platform formations.

BlackRock Investment Management (Australia) has announced estimated cash distributions for 16 Australian iShares ETFs, with payments scheduled for mid-July 2026. Investors must be registered by 2 July and ensure bank details and tax certifications are up to date.

JPMorgan Asset Management has released updated estimated annual cash distributions for six of its ASX-listed ETFs for the financial year ending 30 June 2026, with amounts varying widely between funds and one yielding no distribution.