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Market Wrap

AAP  |  FRIDAY, 22 FEB 2013
The Australian market looks set to open lower after a global sell-off over concern about a possible end to US stimulus measures and as data showed slumping business activity across the eurozone. At 0830 AEDT on Friday, the March share price index futures ...

Qantas Super takes flight with iqBoard

LAURA MILLAN  |  WEDNESDAY, 20 FEB 2013
The Qantas Superannuation board members are using iPads to manage board and committee meetings, joining the ranks of other super fund boards that have done so in recent months. Qantas Super is using iqBoard, an application developed by IQ Group that ...

Credit unions mount 'social' battle against banks

MICHELLE BALTAZAR  |  TUESDAY, 19 FEB 2013
The association representing credit unions and building societies is jumping on the election year to launch a new campaign designed to give bank customers a fairer deal. With the election only seven months away, industry body Abacus Australian Mutuals ...

Market Wrap PM

AAP  |  TUESDAY, 19 FEB 2013
The Australian market has opened lower as investors remain cautious ahead of Italy's general election. At 1023 AEDT on Tuesday, the benchmark S&P/ASX200 index was down 7.3 points, or 0.14 per cent, at 5,056.1 points, while the broader All Ordinaries ...

AFA mulls fresh approach to FOFA code of conduct

LAURA MILLAN  |  TUESDAY, 19 FEB 2013
The Association of Financial Advisers (AFA) is still looking for a practical approach to the Future of Financial Advice (FoFA) Code of Conduct requirement, AFA newly appointed CEO Brad Fox said. "The first opt-in obligation does not kick in until July ...

No fuss transition to 'no frills' super: Sunsuper

LAURA MILLAN  |  FRIDAY, 15 FEB 2013
Sunsuper's transition to MySuper was simple and easy, Sunsuper general manager of Product Andrew Nicholson said after the Australian Prudential Regulation Authority (APRA) granted the Queensland-based fund the first MySuper authorisation. "Our philosophy ...

Anxiety over 'all-things super' takes toll on MySuper uptake

MARK SMITH  |  FRIDAY, 15 FEB 2013
The number of superannuation funds applying for a license to run a MySuper product is likely to fall well short of expectations, according to estimates from the Australian Prudential Regulation Authority. The application process for the low-cost no-frills ...

Don't meddle with super industry bodies warn Govt

LAURA MILLAN  |  FRIDAY, 15 FEB 2013
Several industry bodies have joined the ever growing chorus of sentiment against a federal government making any changes to superannuation likely to negatively impact investors either saving for or currently in retirement. The Self Managed Superannuation ...

Stop using super as political pawn: Narev

MARK SMITH  |  THURSDAY, 14 FEB 2013
Commonwealth Bank boss Ian Narev has urged politicians from both sides of the aisle not to use superannuation as a political pawn in the run up to the Federal election. "It is absolutely critical that we have a long-term position and certainty in superannuation," ...

Politicians move 'super' goal posts at their peril

MARK SMITH  |  TUESDAY, 12 FEB 2013
Recent political and Treasury debate about changes to superannuation should not put doubts into people's minds about its attractiveness as an tax structure within which to invest for their retirement, according to Michael Hutton, head of wealth management ...