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18 September 2025
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In designing rules to protect investors, ASIC prevents reinvestment in products some people have held for years, even when investors qualify as 'wholesale'. How can ASIC change the rules to correct the imbalance?
Conservative investors who want the greater capital security of bonds can now lock in 5% but they should stay at the higher end of credit quality. Rises in rates and defaults mean it's not as easy as it looks.
Major changes are underway in the methods used to distribute bank hybrids. Investor cannot rely on the previous ways of buying hybrids at IPO and now must be 'sophisticated', react quickly and know a broker.
'Sophisticated' investors can be offered securities without the usual disclosure requirements given to everyday investors, but far more people now qualify than was ever intended. Many are far from sophisticated.
Complex products beyond the purview of ASIC are being offered to retail investors based on tax and return advantages beyond the ability of investors to assess, making them manifestly unsuitable.
Founder-led companies and 'entrepreneurial investors' make better, calculated judgements and tap into experiences which give them an advantage over more conservative investors.
‘Single-investor’ models are convenient for a range of investments. A bare trust can be a cost-effective and simple way to let a small number of sophisticated investors access an investment through one legal entity.
You can only receive the full benefit of expertise if you're an informed consumer. Can you paint a picture of what your retirement success and failure looks like?
One of the benefits of Private Ancillary Funds is the philanthropic family legacy they create, and Social Benefit Bonds appeal to many PAF trustees. Unfortunately, investor definitions create an unnecessary barrier to entry.
Qualifying as a 'wholesale' investor opens many investment opportunities not available to most retail investors, but the interpretation of the rules is inconsistent across the industry.
Australia could unlock smarter investment and greater equity by reforming housing tax concessions. Rethinking exemptions on the family home could benefit most Australians, especially renters and owners of modest homes.
The creator of the 4% rule for retirement withdrawals, Bill Bengen, has written a new book outlining fresh strategies to outlive your money, including holding fewer stocks in early retirement before increasing allocations.
This AI cycle feels less like a revolution and more like a rerun. Just like fibre in 2000, shale in 2014, and cannabis in 2019, the technology or product is real but the capital cycle will be brutal. Investors beware.
An explosion in low-skilled migration to Australia has depressed wages, killed productivity, and cut rental vacancy rates to near decades-lows. It’s time both sides of politics addressed the issue.
Are franking credits factored into share prices? The data suggests they're probably not, and there are certain types of stocks that offer higher franking credits as well as the prospect for higher returns.
LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.