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Market Wrap PM

AAP  |  MONDAY, 15 APR 2013
Australian stocks were lower at noon, driven down by resources stocks and falls in commodity prices. The big miners weigh heavily on the ASX and were leading the broader market lower after gold prices were particularly hit hard in offshore trading after ...

Is benchmarking being legislated?

LAURA MILLAN  |  MONDAY, 15 APR 2013
... Australian Securities and Investments Commission's (ASIC) new guidelines for financial products could potentially lead to big losses for investors if it encourages the industry to take a shallow approach to risk management. "ASIC's Regulatory Guide 175 ...

Major reshuffle in insurance league tables

LAURA MILLAN  |  MONDAY, 15 APR 2013
While AMP retained its top-ranking in the recent Plan for Life research, the numbers suggest big swings in market share and the top ten list.. The research focused on the life insurance risk market inflows and sales during 2012 and revealed that MLC ...

IFM consortium wins Port Botany lease

ALICE URIBE  |  MONDAY, 15 APR 2013
A consortium led by Industry Funds Management (IFM) has won a bid for the long-term leases of Port Botany and Port Kembla. The consortium known as NSW Ports includes some of Australia's biggest industry superannuation funds - AustralianSuper, Cbus ...

Fool's gold?

BENJAMIN ONG  |  MONDAY, 15 APR 2013
... According to Bloomberg, Cyprus "had committed to selling around 400 million euros ($523 million) of "excess" gold reserves". Not a big deal. It plans to sell about 10.4 metric tonnes of the Cypriot central bank's total hoard of 13.9 metric tonnes of ...

Still opportunities for flexible bond managers

MARK SMITH  |  FRIDAY, 12 APR 2013
... upgraded. Add to that the fact that inflation is stabilising and Asian currencies are appreciating," Brard continued. The big question looming over the fixed income market remains exactly how and when the Fed will begin selling the assets it has accumulated ...

Business leaders donate big to Salvos

ALICE URIBE  |  FRIDAY, 12 APR 2013
The business community raised in excess of $2 million at the launch of the Salvation Army's Red Shield Appeal at a lunch held at the Westin Hotel in Sydney yesterday. Guest speakers Fortescue Metal Group chairman Andrew "Twiggy" Forrest and his wife ...

Sherry joins calls to watch SMSF property spruikers

MARK SMITH  |  FRIDAY, 12 APR 2013
... executive Andrew Bloore, who was also in attendance at the conference added: "If you want to be in an SMSF, you need to have a big enough balance to make it worthwhile."

Wills are not enough for SMSF legacy

LAURA MILLAN  |  FRIDAY, 12 APR 2013
Self-managed superannuation fund (SMSF) holders should plan their legacy as carefully as they do their investments, as a will may not be sufficient to ensure their money goes to the people its intended for. According to TAG Partners director Michelle ...

Reversal of fortune

BENJAMIN ONG  |  FRIDAY, 12 APR 2013
An ill wind blew over this land girth by sea yesterday. Recall the 71,500 workers that found work in February - yes, that one...the one that's the biggest one month job gain since July 2000, the one that came in more than seven times market expectations ...