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MLC property fund faces leadership change

MELANIE TIMBRELL  |  FRIDAY, 22 JUN 2012
MLC global property securities fund portfolio manager Stuart Keighran is stepping down, according to research house Standard & Poor's. Keighran will relinquish his portfolio management responsibilities to Jonathan Armitage, head of equities and Australian ...

Fundamentally challenged

BENJAMIN ONG  |  FRIDAY, 22 JUN 2012
A day late and a penny short. Had the stumble in equity and commodity markets and the grim indicators released overnight happened while the Federal Open Market Committee was still in session, Big Ben would have announced something beyond extending the ...

FOFA passes as industry backs professionalism

MELANIE TIMBRELL  |  THURSDAY, 21 JUN 2012
Industry bodies have broadly welcomed yesterday's passage of the FOFA legislation through the Senate, with the focus on codes of conduct effectively setting up the industry for self-regulation amid the push towards professionalism and better consumer ...

Foreign MIS tax legislation delayed

BEN COLLINS  |  THURSDAY, 21 JUN 2012
Federal government plans to raise the tax rate on managed investment schemes have been delayed after the proposal was pulled from a bill before parliament yesterday. The measure proposed to double the rate from 7.5% to 15%, forcing assistant treasurer ...

Provident Capital reaffirms solvency

MELANIE TIMBRELL  |  WEDNESDAY, 20 JUN 2012
Provident Capital has reassured investors the company is solvent and that there are sufficient net tangible assets to meet its obligations following last week's action in the Federal Court by the trustee for mortgage debenture holders. On June 13 Australian ...

Older Australians delaying retirement

BEN COLLINS  |  WEDNESDAY, 20 JUN 2012
A report unveiled yesterday by financial services and superannuation minister, Bill Shorten, revealed that 50% of older Australian intend to delay retirement. The report, titled Financial Wellbeing: Concerns and choices amongst older Australians, also ...

Uncle Ben to the rescue

BENJAMIN ONG  |  WEDNESDAY, 20 JUN 2012
... investment on fears that Congress won't act to stop the $600B of automatic spending cuts and tax hikes that are due in January." Yes, more than Europe, America has the "fiscal cliff" to worry about. Given the lag effects of monetary policy, chances are ...

Cost pressures spark Vanguard fee cuts

MELANIE TIMBRELL  |  TUESDAY, 19 JUN 2012
Vanguard has reduced management fees on seven wholesale investment products, in a response to the high level of marketplace price sensitivity. Robyn Laidlaw, Vanguard's head of product management said their scale made the price cut possible. "As a subsidiary ...

SuperStream passes Lower House

ALEX DUNNIN  |  TUESDAY, 19 JUN 2012
Super Stream legislation passed through the Lower House yesterday but while the government is upbeat, the superannuation industry is still wary. The measures were contained in the Superannuation Legislation Amendment (Stronger Super) Bill 2012 that ...

Greece chooses pain to pain

BENJAMIN ONG  |  MONDAY, 18 JUN 2012
... coordinated and concrete solution to the European crisis for this one has again been averted. The same goes for the European summit (yes, another one) in Belgium on the 28th of this one. Ahh... the more things change, the more they stay the same. And ...