Latest Financial Services News

Platinum Asset Management and L1 Capital have agreed to merge, creating a combined entity managing approximately A$16.5 billion in assets. The deal promises strategic diversification, cost synergies, and significant earnings accretion for shareholders.

Ryder Capital has halted its Dividend Reinvestment Plan, opting to pay shareholders cash dividends instead. The move raises questions about the company’s strategic direction and shareholder returns.

Ryder Capital Limited has reported an impressive 27.5% pre-tax net tangible asset return for FY25, significantly outperforming key benchmarks and raising its fully franked final dividend to 5.5 cents per share.

Platinum Capital Limited has secured Federal Court approval to convene a shareholder meeting for its proposed restructure, exchanging shares for units in the Platinum International Fund Complex ETF. The Scheme Booklet will be dispatched mid-July ahead of a hybrid meeting in August.

Platinum Asset Management reported significant net outflows in June 2025, prompting an increase in its FY26 cost savings target to offset revenue pressures. The firm also outlined ongoing expense reductions and forecast modest investment income for FY25.

JPMorgan Asset Management has released estimated tax attribution components for its Climate Change Solutions Active ETF for the fiscal year ending June 2025, confirming its status as a Managed Investment Trust.

Vanguard Investments Australia Limited will forgo half-yearly financial reports for select ETFs in their first short financial year, leveraging ASIC’s regulatory relief to streamline reporting.

Omni Bridgeway confirms the US Budget Bill signed on 4 July 2025 excludes the proposed Legal Finance tax, a move welcomed by the company amid broad political support.

Butn Limited announces the planned retirement of Co-CEO Walter Rapoport, transitioning him to a Non-Executive Director role by September 2025, marking a significant leadership shift for the fintech.

Wrkr Ltd has extended its partnership with MUFG Retirement Solutions to deliver an advanced digital platform for AustralianSuper, aiming to streamline employer services and align with upcoming superannuation reforms.

Magellan Financial Group reported a modest rise in assets under management to $39.6 billion as of June 30, 2025, alongside a strategic shift from monthly to quarterly AUM disclosures.

Regal Partners estimates at least $35 million in performance fee revenue for the first half of 2025, driven by strong global equity strategies and diverse alternative funds. The full half-year results will be released on 25 August.