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ASIC charges ACR directors

ASIC RELEASE  |  TUESDAY, 27 APR 2010
The regulator has charged three former directors of Australian Capital Reserve (ACR) for forging financial statements. Samuel Pogson of Wahroonga; Murray Lapham of Turramurra and Steven Martin of West Pennant Hills, all from New South Wales, were charged ...

Liptak joins Zenith

RUTH LIEW  |  FRIDAY, 23 APR 2010
Daniel Liptak, hedge fund expert and co-founder of Hatfield Liptak Advisors, has joined Zenith Investment Partners as head of alternatives research. Liptak brings to Zenith a track record of 16 years within investment analysis and research. This includes ...

Market Wrap - Morning

AAP  |  FRIDAY, 23 APR 2010
The Australian market has flat to negative leads from trading offshore overnight, with Wall Street marginally higher, but European and Asian markets generally lower. Precious and base metals were lower in New York, although oil was slightly higher. ...

Sovereign fund takes shine to platinum

MICHAEL HOBBS  |  THURSDAY, 22 APR 2010
Sovereign fund Temasek and European-based pension fund APG are looking to invest more than $50 million each in a South African platinum exploration and development firm. Platmin announced that both parties have expressed an intention to buy over $50 ...

Market Wrap - Morning

AAP  |  THURSDAY, 22 APR 2010
... 3,033.28 on turnover of 146.0 billion yuan. WELLINGTON - The New Zealand sharemarket rose, with turnover boosted by a large sale of PGG Wrightson shares by Rural Portfolio Investments Securities Ltd. The benchmark NZX-50 index closed up 11.86 points ...

Ironbark buys Patriot Asset Management

COMPANY RELEASE  |  WEDNESDAY, 21 APR 2010
... early May 2010. Meanwhile Standard & Poor's Fund Services has placed the Patriot Small Companies Fund 'on hold' following the sale of Patriot Asset Management to Ironbark Asset Management. "While we have met with both parties on a number of occasions ...

Hockey calls for FSR review

MICHAEL HOBBS  |  WEDNESDAY, 21 APR 2010
Joe Hockey, shadow treasurer, vows to review the Financial Services Reform (FSR) should the Coalition win the next election. Speaking at the Association of Financial Advisers (AFA) forum this month, Hockey said the FSR legislation was not implemented ...

AIA appoints head of adviser services

PRESS RELEASE  |  WEDNESDAY, 21 APR 2010
AIA Australia has appointed former TOWER Australia manager, Pina Sciarrone, as head of adviser services, individual life. Sciarrone previously worked as state sales manager for Victoria/Tasmania at TOWER Australia. Prior to joining TOWER, she worked ...

Planner fees for super advice cost $1.3bn

ISN PRESS RELEASE  |  MONDAY, 19 APR 2010
Rainmaker Research has found that $1.3 billion of workers funds were redirected to financial planners in the form of commissions, including $550 million from compulsory (SG) super. Rainmaker, which owns Financial Standard, also reported that $6.48 billion ...

Challenger poised for boutique growth

ASX RELEASE  |  MONDAY, 19 APR 2010
Challenger Financial Services Group has reported that its Boutique Partnership funds under management (FUM) saw a threefold increase in the last 12 months, reaching $4.5 billion in total as of March this year. The listed group reported the numbers as ...