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On this episode of The nestegg Podcast, the CEO of Industry Super Australia, Bernie Dean, shares his insights into the impact of COVID-19 on super funds.

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Bernie joins host Grace Ormsby to unpack how the economic downturn has been affecting different demographics, why many in the older age bracket are experiencing increased levels of anxiety, and what those people can do to preserve their nest egg and minimise their losses.

Bernie also delves into Industry Super Australia’s stance towards accessing superannuation early as part of the government’s stimulus measures, whether now is a good time for people with the means to contribute extra to their super, and industry fund plans for a road to recovery for both their members and the national economy.

Thanks Bernie, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Industry Super Australia are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Friday, 05 June 2020

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The next big move for this Aussie investor, shopping favourite

By Cameron Micallef · July 04 2019

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Invest

The next big move for this Aussie investor, shopping favourite

By Cameron Micallef
July 04 2019

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The next big move for this Aussie investor, shopping favourite

By Cameron Micallef · July 04 2019

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Woolworths Group Ltd has announced its intended separation from pubs and pokies as it plans to spin off its drinking and hotel entities.

Woolworths’ combined hospitality businesses, Endeavour Drinks and ALH Group, will create Australia’s largest integrated drinks and hospitality company, with sales nearing $10 billion. Woolworths will then pursue a separation from that company.

“The board believes that a merger of Endeavour Drinks and ALH followed by a separation is in shareholders’ best interests and will benefit customers and team members of both groups,” said Woolworths group chairman Gordon Cairns.

The separation is expected to take place in calendar year 2020.

What’s getting the boot?

Alcohol brands included in the Woolworths separation include Dan Murphy’s, BWS, Cellarmasters, Jimmy Brings, Langton’s and Pinnacle Drinks.

The hospitality side of the business will include 1,000 bars, night clubs and themed areas, 295 venue restaurants and 740,000 hotel rooms through 2,000 venues, 286 venues with gaming rooms, 391 function rooms and 100 venues hosting live ticketed events.

With moves like this, Woolworths CEO Brad Banducci believes the company is rebuilding its core.

“Over the past three years, we have progressively moved from a period of fixing the basics as part of our turnaround to investing for the future as part of our transformation,” he said.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.