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Pension fund suffers million-dollar meltdown

COMPANY RELEASE  |  TUESDAY, 21 JUL 2009
Super funds could learn a harsh lesson from a Philippines based pension fund, after a software meltdown cost the fund an estimated $120 million in damages and led to a court case against a contractor for libel. Information technology contractor Questronix ...

The quest for independent advice

MICHELLE BALTAZAR  |  FRIDAY, 26 JUN 2009
... need to re-consider their strategy and think of how they can deliver advice packages," said Peatey. However, unlike a newspaper report in the UK that said up to half of the independent financial adviser (IFA) industry would exit the sector following ...

Super is a good idea but needs fixing

ALEX DUNNIN  |  TUESDAY, 16 JUN 2009
Superannuation is a good idea but the design of the system to implement it is regressive and flawed, argues Julian Disney, social justice law professor and long time researcher and campaigner on equity issues. Disney said the difficulty is that while ...

Unlisted valuations on track: Frontier

RUTH LIEW  |  FRIDAY, 5 JUN 2009
... valuing properly, but we didn't find any substantial evidence of any problems." Trafford-Walker's remarks came after a newspaper report out this morning that she said incorrectly stated Frontier's survey and the details behind which funds failed to value ...

Unions attack retirement age change

ALEX DUNNIN  |  MONDAY, 25 MAY 2009
... government has been forced to dismiss their claims for special rules for manual workers labelling them unfair. The Australian newspaper today reported that the major industrial unions, the Construction Forestry Mining and Energy Union (CMFEU) and the ...

Govt continues to target high income HHs

ALEX DUNNIN  |  FRIDAY, 8 MAY 2009
... earners lends weight to where it might wield the superannuation axe. A story published this morning in the Australian newspaper reports that the health insurance rebate will be wound back for families earning more than $150,000 and singles earning more ...

Taking a breather

BENJAMIN ONG  |  TUESDAY, 21 APR 2009
... expectations for a 0.2 per cent drop. The old but still bad news. IMF managing director Dominique Strauss-Kahn told a German newspaper that its World Economic Outlook would show a downward revision to global growth when it is released this week. Unless ...

Doors open for new ETFs

MICHELLE BALTAZAR  |  TUESDAY, 17 MAR 2009
Barclays' decision to place its leading exchange traded funds (ETFs) business, iShares, up for sale has the potential to change the sector's dynamic and lower the barrier to new entrants. The company has released a brief statement overnight confirming ...

Seize the pay

MICHELLE BALTAZAR  |  TUESDAY, 17 MAR 2009
The days when executives get rewards-for-failure could soon be over if legislators back radical remuneration reforms proposed by a governance expert, which includes capping 'golden parachutes' and issuing share options that can only be cashed out after ...

HSBC Premier business up 76 pc

COMPANY RELEASE  |  FRIDAY, 6 MAR 2009
... division, HSBC Finance Corporation (HFC) is reportedly being wound down with 6,100 jobs cut, according to the UK's Guardian newspaper.