Global climate change activist group Extinction Rebellion has come under fire after it posed as Sweden's largest pension fund and claimed it was divesting from all companies with operations in fossil fuels.
The $110 billion industry fund will stop offering comprehensive advice to new customers on July 6 and cut over 50 positions, as it sees demand for holistic advice fall.
A $3.4 billion industry superannuation fund has struck an exclusive partnership which it hopes will help it attract 3000 new members each year.
Superannuation fund awarded only 30 mandates in the three months to March totaling $2.5 billion, down significantly from the December quarter's 63 totaling $8.6 billion, new data from Rainmaker Information shows.
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