Here’s what happened this week:
1. IIG has launched a new impact fund and is looking to raise $70 million to invest in sustainable and ethical projects. The Impact Alternatives Fund is targeting 6% to 10% per year in returns (before tax but after fees), of which 3% to 5% will be income distributed quarterly. More here.
2. Government is getting behind open banking. Fintech Business reported that a Senate committee on financial and regulatory technology had handed down its interim report with 32 recommendations to the government on how it can support the sector. It seems that the government does in fact appreciate the key role that technology plays in helping drive innovation and efficiencies in the financial sector. More here.
3. The next generation. It’s something, with 3 kids, Chris Ridd knows a thing or two about family life. He’s done a full rundown of what we should all be teaching the next generation about when it comes to money. More here.
4.The risks of investing in prestige property. Property is something Australians love but this week AFR contributor Richard Wakelin explains why high-end property might not be the best investment and it all has to do with the idea that bankers suspect there is a strong likelihood of major price falls and are being picky about who they’re lending to. More here.
5. The hidden risk in salary-sacrificing superannuation. As we navigate a recessionary environment some of the practices we took for granted in the good times need to be closely looked at. Given the increased risk of employers going into administration or receivership during a downturn, it may be worth some employees making personal deductible superannuation contributions rather than salary-sacrificing. More here.
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