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Australia leads in global median wealth

MARK STORY  |  FRIDAY, 12 OCT 2012
... US$115 trillion by 2017 from the current US$74 trillion, contributing 38% of the net new increase in global wealth in the next five years and accounting for 35% of total global household wealth by 2017. Locally, the report found wealth in Australia fell ...

More jobs, more jobless

BENJAMIN ONG  |  FRIDAY, 12 OCT 2012
... confirms the Reserve Bank's view that the labour market is weakening, reinforcing the likelihood of another interest rate cut next month. Australia's unemployment rate jumped to 5.4 per cent last month, from 5.1 per cent in August, as ranks of the unemployed ...

$1bn unpaid contributions returned

ALEX DUNNIN  |  FRIDAY, 12 OCT 2012
... compulsory superannuation contributions is set to become proportionally a more important issue as SG rises to 12% over the next few years. This is because these contributions will be equivalent to 11% of an employee's total annual wage, equivalent to ...

Market Wrap

AAP  |  THURSDAY, 11 OCT 2012
... Tinto was the worst-performing stock on the S&P/ASX20, having fallen 1.29 per cent, or 72 cents, to $55.11. BHP posted the next largest decline, down 0.93 per cent, or 31 cents, at $33.17. RBS Morgans Ipswich manager Tony Russell said Australian market ...

VFMC names new chief

LINDA HAUSKEN  |  THURSDAY, 11 OCT 2012
Victorian Funds Management has appointed Warren Lee as a chief executive officer, effective next Monday. Lee joins VFMC after more than 15 years with AXA Asia Pacific Holdings Limited where he held the role as a chief executive officer of Australia ...

Woe R'Us

BENJAMIN ONG  |  THURSDAY, 11 OCT 2012
... travelling at warp speed. And oh, there're now disappointing company earnings to worry about. And oh, the Presidential elections next month (what happens if Romney wins?). And oh, there's also the fiscal cliff at the end of the year. And oh, for a longer-term ...

IMF - It Means Fun

BENJAMIN ONG  |  WEDNESDAY, 10 OCT 2012
... consequently lowered its global growth forecasts. And surprise, surprise, the S&P 500 jumped by 9.4% between that WEO and the next one released on 24 January 2012. On 24 January the IMF warned that, "The global recovery is threatened by intensifying ...

AFA conference boasts biggest turnout in 20 years

LINDA HAUSKEN  |  TUESDAY, 9 OCT 2012
... 28-30 October, among them industry leaders, innovators and decision-makers who have the influence to take the industry to the next level. Richard Klipin chief executive officer at the AFA said that this year, delegates are in for a treat. "The key focus ...

Aussie shares to rally within a year: Russell

BEN COLLINS  |  TUESDAY, 9 OCT 2012
A sustainable turnaround in the Australian share market is predicted within the next 12 months, according to a Russell Investments research report. Russell's Investment Manager Outlook (IMO) survey, which was released this morning, collected the opinions ...

BNY Mellon appoints head of intermediary distribution

LINDA HAUSKEN  |  TUESDAY, 9 OCT 2012
... "Asia has now surpassed both Europe and the US in the number of millionaires and we may see that gap widen further over the next decade in Asia's favour," said Alan Harden, chief executive at BNY Mellon's APAC investment management business. Navin's ...