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On June 12, Iranian Foreign Ministry spokesman Baghae stated on the 11th that all matters concerning the US-Iran agreement were speculation. To date, Iran has not reached a final conclusion on the agreement. Baghae also stated that the situation in the Strait of Hormuz has become more insecure due to US actions. Baghae further stated that Qatar and Pakistan are actively playing a mediating role, but US actions have affected the diplomatic process. He said that Iran was aware of the progress of the negotiations from the beginning, and most of the text of the agreement was completed, but the US has continuously changed its position. Iran has proven that it will never compromise on issues that it considers "red lines."June 12 - According to a report by Iranian state television on the 11th, a spokesperson for the Iranian Foreign Ministry stated that Iran has not yet reached a final conclusion on the Iran-US agreement, and all reports from the outside world regarding the agreement are speculation, with no details yet finalized.Iranian Foreign Ministry Spokesperson: Once we reach a conclusion that the text of the memorandum of understanding can safeguard the interests of the Iranian people, we will release it.Iranian Foreign Ministry spokesman: If Iran intended to abandon its principled position under pressure and threats, we would have done so a year ago.Iranian Foreign Ministry spokesman: All matters concerning the agreement are speculation, and no final decision has been reached.

Vanguard Announces Australia's $2 Trillion Pension Fund

Haiden Holmes

Nov 11, 2022 15:49

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Vanguard, the second-largest fund manager in the world, formed a pension fund in Australia on Friday, six years after the last new fund license was issued. Vanguard wagers that its reputation for minimal expenses will enable it to tap into Australia's billions of dollars in retirement savings.


Australia's superannuation funds are establishing investment offices in New York and London as global managers monitor a savings pool that has risen from A$148 billion to A$3.3 trillion ($2.18 trillion) over three decades.


Twenty-four years after the launching of Vanguard's first Australian fund, Vanguard Super opens with twelve products, including a default "Lifecycle" fund that shifts a member's assets to more conservative investments as they age.


According to accounting firm Deloitte study commissioned by Vanguard, costs for the default choice will be the lowest on the Australian pension market for younger members and those with balances under A$50,000.


"We strive to give members with a low-cost, high-quality superannuation fund that includes a default offer that follows them throughout their lives," said Daniel Shrimski, managing director of Vanguard Australia.


As the first new entrant into the Australian superannuation market in years to get an RSE license, and despite industry consolidation, we believe we can improve retirement outcomes for Australians and serve as a catalyst for much-needed industry change.


The emphasis on expenses and performance is the outcome of legislation that went into effect in July of last year forcing pension funds to inform members if they fail to meet government-established performance objectives.


In the next months, a platform for financial advisers who handle client funds will become operational.

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