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Economic Wrap

BENJAMIN ONG  |  FRIDAY, 12 AUG 2016
... range [1.0%-3.0%]. US export and import prices It's easing but the latest import price data shows that the America is still not importing inflation. Import prices fell by 3.7% in the year to July, an improvement from the 4.8% drop recorded in the previous ...

Magellan full year profits up 14%

MARK SMITH  |  THURSDAY, 11 AUG 2016
... 17.3% and 15.4% respectively versus 12.1% and 11.1% from the benchmark. "Given our medium to long term focus, however, it is not unreasonable to expect some periods when the funds will not outperform or will lag their benchmarks. Over the cycle, however ...

Non-super investments increasing sophisticated strategies

DARREN SNYDER  |  THURSDAY, 11 AUG 2016
... opportunities for wealth management professionals to capitalise on personal investments outside of superannuation and in a market not always readily recognised. In its Personal Investments Market Projections 2015 report Rice Warner said opportunities ...

SMSF trustee fined $40K for SIS breaches

KERRIE SYDEE  |  THURSDAY, 11 AUG 2016
... The case set a new benchmark for trustee fines. As breaches only involved Rodriguez the involvement of the other trustee was not considered.

Economic Wrap

BENJAMIN ONG  |  THURSDAY, 11 AUG 2016
... August after declining by 3.0% in July. More importantly, at a reading of 101.4, optimists outnumbered pessimists this month. Not surprisingly, the increase in consumer confidence was in response to the Reserve Bank of Australia's (RBA) 25 bps cut in ...

AFA calls on members to reject constitution change

KERRIE SYDEE  |  WEDNESDAY, 10 AUG 2016
... the expense of consumers and advisers, arguing that both the AFA and Financial Planning Association of Australia (FPA) are not supporting advisers through the LIF reforms. AFA president Deborah Kent said the proposed constitutional change would not reverse ...

K2 hurt by Brexit call

DARREN SNYDER  |  WEDNESDAY, 10 AUG 2016
... performance. Neal said K2 expected the US Federal Reserve to lift its official cash rate in December 2015, however it did not expect the People's Bank of China to then devalue the Yuan against the US dollar and "this caused significant market dislocations." ...

CBA posts record profit despite dip from wealth division

MARK SMITH  |  WEDNESDAY, 10 AUG 2016
A 6% dip in the cash profit of Commonwealth Bank's wealth management division did not hold the bank back from recording a record after tax cash profit of $9.45 billion for the 12 months to 30 June, up 3% on last year. Wealth Management cash net profit ...

BetaShares grows suite with two new sector ETFs

MARK SMITH  |  WEDNESDAY, 10 AUG 2016
... use a single investment to gain diversified exposure to global agricultural power houses. By investing in the company, and not the commodity, investors also have the potential to generate positive returns even when food prices remain stable." These two ...

ANZ nine-month cash profit down

KERRIE SYDEE  |  TUESDAY, 9 AUG 2016
... risk weighted assets. Commenting on the bank's restructuring program, Elliott said an extended lower growth environment was not necessarily a bad thing for Australia and will force banks to adopt new technologies and excel at productivity. "I think we're ...