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Market Wrap AM

AAP  |  THURSDAY, 1 MAY 2014
The Australian market looks set to follow Wall Street higher, with the Dow Jones reaching a new record after the Federal Reserve said the US economy was picking up after a winter slowdown. At 0810 AEST on Thursday, the June share price index futures ...

Market Wrap AM

AAP  |  WEDNESDAY, 30 APR 2014
... takeover speculation, with London boosted also by solid British economic growth data, dealers say. London's FTSE 100 index of top companies jumped 1.04 per cent to end at 6,769.91 points - the highest close since March 6 - aided also by a BP shareholder ...

Kinetic Super to reduce admin fees

JAMES FERNYHOUGH  |  TUESDAY, 29 APR 2014
... would translate to member savings of just over $10 a year. However, the 10.5% figure only applies to the fixed weekly fee. On top of this, Kinetic Super charges a member admin fee of 0.25% per annum of the member's balance. There will be no change to ...

Compliance absorbs half of platforms' development budget

LAURA MILLAN  |  TUESDAY, 29 APR 2014
Platforms are spending almost half of their development budget on regulatory compliance, the Investment Trends 2013 Platform Report found. The research covered 454 key characteristics of 13 platform providers and found that spending on developing new ...

FSC and ISA clash over super and awards

LAURA MILLAN  |  THURSDAY, 24 APR 2014
... deadline for MySuper applications. The organisation has made the removal of superannuation from the modern awards system its top priority and argued that it would improve competition among super funds, which in turn would benefit members. Under the current ...

SPAA launches online CPD tool

LAURA MILLAN  |  THURSDAY, 24 APR 2014
The SMSF Professionals' Association of Australia (SPAA) has launched an online tool compliant with the continuing professional development (CPD) program. The CPD Compass tool is an online questionnaire available to the association's members and designed ...

Big obstacles for funds going it alone on PE

ALEX DUNNIN  |  THURSDAY, 24 APR 2014
... outperformance expected of private equity is more difficult now than it used to be. It is generally accepted that only the top quartile of PE investment managers can sustainably add value, but according to the McKinsey & Company report even this band ...

Market wrap

AAP  |  WEDNESDAY, 23 APR 2014
... $62.80. Gold miner Newcrest was 12 cents higher at $10.14 after it said it expected full year production to be around the top end of its guidance range at about 2.3 million ounces. The big four banks were higher, with the Commonwealth Bank up 56 cents ...

Risk management top concern for sovereign wealth funds

JAMES FERNYHOUGH  |  WEDNESDAY, 23 APR 2014
The majority of sovereign wealth funds and central banks globally have said risk management is a major concern, according to a recent survey carried out by State Street Corporation. The 'New Horizons for Official Institutions' report, released today ...

Think tank calls to end super tax concessions

MARK SMITH  |  TUESDAY, 22 APR 2014
... field amongst income groups and reduce the inequality in Australia's retirement system. Superannuation could then act as a top-up for those who can afford it," the report's authors, David Ingles and Richard Denniss, said. Ingles and Denniss added that ...