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Economics

Daily economic update

WEDNESDAY, 29 MAR 2006 10:06AM

To no one's surprise, the US Federal Reserve's Federal Open Market Committee (FOMC) raised the federal funds rate by 25 basis points to 4.75 per cent. It also lifted the discount rate to 5.75 per cent.

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Editor's Choice

Praemium's new leadership toughens earnings yardstick

RIDDHIMA TALWANI

Praemium's new leadership will be keeping a close eye on costs, with new chief executive Denis Orrock noting he will make sure the technology upgrade underway translates into stronger earnings and better returns for shareholders.

Australian Ethical FUM drops by $70m

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Australian Ethical saw a net outflow of $100 million in its investment business in the first quarter of the financial year.

Perennial expands wholesale offer for pre-IPOs

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Perennial Partners is launching a new strategy for wholesale investors to capitalise on global pre-IPO opportunities, requiring a minimum investment of $100,000.

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Macquarie chief investment officer for wealth will take on a new role at a New Zealand-based investment management firm after serving in the position for close to three years.

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