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Superannuation
04 July 2025 by Maja Garaca Djurdjevic

Retail super funds deliver double-digit returns despite market turbulence

Retail superannuation funds Vanguard Super and Colonial First State have posted robust double-digit returns for FY2024–25, driven by a recovery in ...
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Markets climb 'wall of worry' to fuel strong super returns, but can the rally last?

Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an ...

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ASIC levy for investment and super sector set to rise 9%

The corporate regulator has released its estimated industry levies for FY2024–25, with the cost for the investment ...

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Diversified portfolios deliver for industry funds as markets flourish

Another strong year for equities, both domestic and global, has driven largely positive returns for these industry super ...

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VanEck warns of looming US asset unwind as key risk signals flash red

VanEck has signalled an impending major unwinding in US assets, after issuing a warning that the world is largely ...

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Metrics makes 2 acquisitions ahead of consumer lending expansion

Metrics Credit Partners has completed the acquisition of Taurus Financial Group and BC Investment Group as it looks to ...

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UK billionaire takes punt on Bear Stearns

  •  
By Charlie Corbett
  •  
2 minute read

A British billionaire has built a 7 per cent stake in beleaguered investment bank Bear Stearns.

British billionaire Joseph Lewis has taken a punt on Bear Stearns by acquiring a 7 per cent stake in the beleaguered US investment bank.

Lewis has purchased US$860.4 million worth of Bear Stearns' shares and become one of its largest shareholders.

The bank's shares closed up 2 per cent at US$107.50 on the New York Stock Exchange on 10 September, after moving as high as US$109.55 earlier.

Lewis disclosed the stake, which amounts to 8.1 million shares, in a filing with the Securities and Exchange Commission (SEC) earlier this week.

His holding is more than any other shareholder reported at the end of June.

Putnam Investment Management was the largest institutional shareholder, before Lewis stepped in, with 7.03 million shares, or 6 per cent, of the outstanding shares.

Bears Stearns chairman and chief executive James E Cayne owns 5.8 percent of the firm's stock, according to the latest Bear Stearns proxy statement.

Bear Stearns shares have fallen by about 35 per cent this year after two of its hedge funds were wiped out by the recent crisis in the US sub-prime market.

Lewis made his fortune as a currency trader in the 1970s and later moved to the Bahamas.