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1 July 2026

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Edition: 323

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Welcome to Firstlinks Edition 323

  • 11 September 2019

Sometime in the next year, if there is no major market fall, total assets in superannuation will hit $3 trillion on the way to a forecast $10 trillion in 20 years, as shown below. Not bad for a country with GDP of about $1.9 trillion. The entire market value of all listed companies in Australia is about $2.1 trillion. While super funds obviously invest in a wide range of other asset classes, super investments will be increasingly offshore.

Daniel Foggo on why P2P lending is not what you think

Marketplace or P2P lending has come a long way in Australia in the last five years. Most investors will be surprised by the type of borrowers and purposes of the loans, and how they are priced.

Most investors are wrong on dividend yield as income

The current yield on a share or trust is simply the latest dividend divided by the current share price, an abstract number at a point in time. What really matters is the income delivered in the long run.

The top six checklist: is my SMSF on track and compliant?

With increasing scrutiny on SMSFs, it's worth checking yours is on track. Issues include establishing, investing, obligations, compliance, paying benefits and preparing for an eventual exit.

The merits of holding some cash in US$

Investors are looking overseas for investments more than ever, but most do not hold some of their cash in US$. It gives exposure to the world's leading economy, perhaps at a higher rate.

Managing LIC discounts and premiums

Many Listed Investment Companies, or LICs, have developed persistent discounts to NTA in their share prices, and buyback programmes are struggling to have much impact. See also the latest update on new issues in the LIC space.

How the S-curve helps to find winners and losers

The key to investment success is identifying the winners from the structural growth tailwinds, regardless of the macro-environment. Here are examples of likely winners and strugglers.

Central banks risk losing their feted ‘independence’

Central bank independence was an appropriate solution when inflation was a threat. In today’s low-inflation, low-growth and high-debt world, even central banks doubt their level of influence.  

Has FoFA become the Failure of Financial Advice?

In solving problems relating to conflicts and best interest duties, comprehensive financial advice has become so expensive that it will be increasingly confined to the wealthy. Is that what we want?  

CFSGAM rebrands to First Sentier Investors

First Sentier Investors is the new name for Colonial First State Global Asset Management, completing the separation from CBA. It's the end of an era for the business Chris Cuffe led for 14 years.

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Most viewed in recent weeks

Noel Whittaker’s take on the budget

Marketed as a fix for inequality and housing affordability, the latest budget instead delivers a tangle of tax changes that leave everyday Australians worse off.

Australia has no death duties. Technically.

Australia may not levy formal death duties, but a growing web of tax measures is quietly shaping what wealth passes between generations. Now, the 2026 budget adds another layer.

How to minimise tax with a will

Inheritance tax implications in Australia may surprise some, as poor estate planning without proper wills or trusts can lead to costly tax bills and delays for beneficiaries.

Testamentary trusts post-budget: Estate planning, tax reform and the ‘death tax’ debate

Proposed Budget changes to taxation are casting new uncertainty over testamentary trusts, prompting closer scrutiny of estate planning structures and the real implications of reforms still taking shape.

Back to the future - Why indexing CGT is a good idea

A return to indexation of capital gains would be a fairer way to compensate households for the effects of inflation than the current discount. Importantly, it opens the door to future, broader reforms to stop the taxation of inflation.

Meg on SMSFs: The CGT changes don’t impact super but what about Div 296 tax decisions?

New CGT rules could tip the scales in the super vs non-super debate. For those facing the Division 296 tax, the case for withdrawing has gotten more complex. A "comparison rate" tool may help assess decisions.

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