It is becoming harder for financial advisers to build investment portfolios as Morningstar finds broad portfolio diversification has failed to add value in recent years compared to a vanilla portfolio of equities and bonds.

Following a review of Perpetual Group’s multi-asset capabilities, the asset manager has decided to combine the Perpetual and Pendal multi-asset businesses to create one team, the Perpetual Multi Asset Strategies team.

Global fund managers are the most bullish they have been in more than two years, the latest Bank of America manager survey has shown.

Having unsuccessfully tried to acquire Pacific Current Group last year, GQG Partners has agreed to acquire three of its US-based affiliates for US$71.2 million.

The corporate regulator has handed down a permanent ban to the director of a crypto fund, whom it deemed to lack “integrity, trustworthiness and judgement”.

Over three-quarters of consumers say they would be more likely to invest in products that were verified by an independent source as being responsible, with greenwashing fears on the rise.