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Market Wrap

AAP  |  THURSDAY, 17 OCT 2013
Australian shares are half a per cent higher after the US Congress appeared ready to raise the debt ceiling. The big banks all gained but the big miners slipped after the US House of Representatives and Senate looked poised to confirm a budget deal ...

Grandfathering pushes self-licensing

LAURA MILLAN  |  THURSDAY, 17 OCT 2013
... moving to larger licensees," she said. "As people come to terms with FoFA, we are seeing more people going out from those big groups and getting their own license." Micallef and Cargakis spoke at the Association of Financial Advice (AFA) 2013 Conference ...

Market Vectors lists first Aussie banking ETF

JAMES FERNYHOUGH  |  WEDNESDAY, 16 OCT 2013
... exchange traded products (ETPs) trading on the ASX to 90. The new ETFs give investors access to Australian banking, small and big cap resources, and Australian property. Market Vectors Australia managing director Arian Neiron said the Australian Banks ...

Advisers should engage clients on health

MARK SMITH  |  WEDNESDAY, 16 OCT 2013
The Australian National Preventative Health Organisation (ANPHA) has thrown down the gauntlet, challenging advisers to develop ways of engaging clients on preventable health issues such as heart disease and diabetes. With at least 60% of Australian ...

Time to be fearful?

BENJAMIN ONG  |  WEDNESDAY, 16 OCT 2013
... will roll. But nah...the United States of America is a democracy and it's the gerrymandered majority that rules. While the Big O's Democratic Party has the numbers in the Senate - 52 against the GOP's 46 (and 2 Independents) - he's short of yes men in ...

Super in-house investment no threat to fund managers

JAMES FERNYHOUGH  |  TUESDAY, 15 OCT 2013
The tendency for big super funds to move investment in-house is no cause for alarm for investment managers, according to Principal Global Investors chief executive Grant Forster. Forster said that while funds bringing investment in-house - such as AustralianSuper ...

Boutiques no longer have performance edge

ALEX DUNNIN  |  TUESDAY, 15 OCT 2013
Despite the attention boutiques receive they no longer show any systematic performance edge over big brand managers. Explaining the research findings, Rainmaker in its latest Roundup report said the big brands have learned how to corral boutiques into ...

Washington watching Wall Street watch Washington

BENJAMIN ONG  |  MONDAY, 14 OCT 2013

NSW govt to reconsider Pillar privatisation

JAMES FERNYHOUGH  |  FRIDAY, 11 OCT 2013
The NSW Government is considering the sale of state-owned superannuation member administrator Pillar Administration after a period of poor financial performance. Pillar posted net losses of $2.2 million for the 2011-12 financial year and appears to ...

Investor interest shifts to European credit

LAURA MILLAN  |  FRIDAY, 11 OCT 2013
... continues with no end in sight. HSBC global chief investment officer of fixed income Xavier Baraton told Financial Standard that "big investment funds in Asia are following a new pattern, with a lot of money going back into Europe and into credit in ...