In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses key Australian financial developments. She highlights the resurgence of active investing and the role that global equities, private equity, and bonds play in diversifying portfolios. Estritori also notes the Australian Financial Complaints Authority's (AFCA) initiatives to clarify the classification of self-managed super funds, emphasizing the importance of advisers' understanding of these regulations. She then covers the housing market challenges in Western Australia and the government's increased budget allocation in response. Lastly, Estritori recounts an interesting AFCA case involving an insurance fraud claim and a crash allegedly caused by a possum, emphasizing the importance of honesty in insurance dealings and the necessity of rigorous fraud prevention.
