Prime Value Asset Management has launched a retail fund investing in microcap companies, a new version of its existing wholesale offering.

From multiple fund launches and personnel changes to major outflows and a scrapped deal, Money Management has collated the most significant news in the funds management industry over the past 12 months.

ASIC has permanently banned a financial adviser after he allegedly concealed information from clients and misused client funds, among other breaches.

Two active fund managers have outshone rivals to report double-digit share price growth of more than 40 per cent for FY25, but another has lost more than 50 per cent.

BlackRock has successfully completed its acquisition of global credit investment manager HPS Investment Partners, with the intention now to create a US$190 billion private financing solutions platform.

Disgraced adviser Joshua Fuoco described himself as the “biggest monkey” at AFSL Group and provided financial advice via WhatsApp, all while being banned for 10 years, court documents show.

The Compensation Scheme of Last Resort has released the FY26 revised levy estimate, but the FAAA is concerned costs will be pushed into the following year.

The finalists for the 2025 Australian Wealth Management Awards have been revealed, shining a spotlight on the top performers and rising stars across the nation’s wealth sector.

Magellan has closed out the financial year with funds under management approaching $40 billion and outlined its estimated performance fees.

Former Iress chief executive, Andrew Walsh, has been promoted to chair of a boutique Sydney advisory firm, having stepped down from the same position at Mason Stevens.