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11 March 2026
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With APRA phasing out bank hybrids from 2027, investors must reassess these complex instruments. A synthetic hybrid strategy may offer similar returns but with greater control and clearer understanding of risks.
Most superannuation products offered to working-age Australians are now performance-tested, and there are calls to extend these tests to account-based pensions. It's likely to result in more pain than gain, though.
A self managed super fund can offer investors more control and, in many cases, greater choice over their retirement investments. But are the extra costs and admin burdens worth it?
APRA is reviewing hybrid capital bonds issued by banks. This is hardly surprising since the demise of Credit Suisse showed they don't work for the purpose that they are designed, and their continued use must be questioned.
APRA is investigating bank hybrids to better secure bank capital and the broader financial system. The problem in Australia is most hybrids are held by 'retail' investors who may not understand the risks.
Pension payments in super after the age of 60 are tax free and anyone over 65 can switch their super into a pension account even if they do not change their employment. Why do so many continue paying 15% tax?
Regulators have accused superannuation funds of largely ignoring a new obligation to help members prepare for comfortable retirement. There are reasons for the slow progress, though clearly more can be done.
The startup banks were supposed to challenge the lazy, oligopolistic major banks, but 86 400, Xinja and now Volt have gone. Why did Volt disappear so quickly when it had gained deposit support and name recognition?
Is bigger better for super funds? APRA certainly thinks so as it pushes for more mergers but what might members be losing from a more personal touch? Veteran journalist Greg Bright explains events at Media Super.
The investment performance of a typical SMSF improves as the fund balance approaches $200,000, after which the fund achieves comparable investment returns with APRA- regulated funds, according to new research.
What is APRA worried about? Most mortgagees can easily absorb increases in interest rates without posing a systemic threat to the banking system. Housing lending is a relatively risk-free activity for banks.
The Big Four banks look similar but they are at fundamentally different stages as they move to simpler business models. Amid challenges from operating systems, loan growth and neobank threats, one factor stands tall.
A more rational taxation system that supports home ownership but discourages asset speculation could provide greater financial support to first home buyers.
Our cost-of-living pressures go beyond the RBA: surging house prices, excessive migration, and expanding government programs, including the NDIS, are fuelling inflation, demanding bold, structural solutions.
The capital gains tax discount is under review, but debate should go beyond its size. Its original purpose, design flaws and distortions suggest Australia could adopt a better, more targeted approach.
The post-World War Two economic system is unravelling, leading to huge shifts in currency, bond and commodity markets, yet stocks seem oblivious to the chaos. This looks to history as a guide for what’s next.
This is my last edition as Editor of Firstlinks. I’m moving onto a new role though the newsletter will remain in good hands until my permanent replacement is found.
Most commentary on gold's recent record highs focus on it being the product of fear or speculative momentum. That's ignoring the deeper structural drivers at play.