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Dutch pension fund set for major reforms

MATT WOODINGTON  |  TUESDAY, 14 JUN 2011
The a,-800 billion Dutch pension system is set to place higher responsibility on the board of funds, while retirement age will rise, after the government closed on a reforms agreement. Dutch Prime Minister Mark Rutte said that the government, employers ...

Market Wrap - Morning

AAP  |  TUESDAY, 14 JUN 2011
... big aftershocks of earlier earthquakes. The NZX50 finished at 3,476.684 points, down 13.942 points (0.4 per cent) on its close on Friday, when it edged up 1.9 points. But it had actually fallen lower than that in early trading, and was bumping along ...

Customers rate SMSFs the best

ALEX DUNNIN  |  FRIDAY, 10 JUN 2011
... just 52 per cent for industry fund customers and 47 per cent for retail fund customers. Public sector funds however came a close second to SMSFs with a performance satisfaction rating of 68 per cent. The top funds apart from SMSFs were Catholic Super ...

Market Wrap - Midday

AAP  |  FRIDAY, 10 JUN 2011
... equities had its first rally in a week, which encouraged investors to invest in risk assets and commodities. "It was a good close for US equities, ending a streak of losses in the US, one of the worst streaks we've seen in many years, but a nice bounce ...

CommInsure hires AMP manager to strengthen retail advice

MATT WOODINGTON  |  FRIDAY, 10 JUN 2011
CommInsure has appointed former AMP Financial Planning regional manager Andrew Kennedy as its new head of retail advice distribution. CommInsure has also appointed Mark Sheldon to the newly-created role of head of business retention and growth, to help ...

Excess contributions penalties soar to $400m

MATT WOODINGTON  |  FRIDAY, 10 JUN 2011
The Australian Tax Office has now raised $400 million through tax penalties on excess super contributions made between 2006 and 2010 with that figure likely to rise yet further. Speaking at an upper house enquiry of the economics legislation committee ...

The seventh day

BENJAMIN ONG  |  FRIDAY, 10 JUN 2011
And on the seventh day, they rested. After six straight days of non-stop selling, script hawkers took a breather. Yes, you read right - a breather - they'll be back again. There'll be more selling down the road. But this does not mean that I've given ...

Market Wrap - Midday

AAP  |  THURSDAY, 9 JUN 2011
... $24.18, ANZ was 20 cents higher at $21.54, and Westpac was up 19 cents at $21.72. "Yesterday was the finance sector's worst close since August last year, so that may have triggered some bargain hunting," Mr Saffer said. At 1210 AEST, shares in BHP Billiton ...

Fear is in the air

BENJAMIN ONG  |  THURSDAY, 9 JUN 2011
... the "progress" it's made on the economy over the past two years just fritter away. It's just waiting till the pain becomes close to unbearable. Or perhaps, when equity markets in Hungary, Romania, Kazakhstan, Slovakia, Croatia, Slovenia and Bosnia and ...

Market Wrap - Morning

AAP  |  THURSDAY, 9 JUN 2011
... 2,083.35. Hong Kong slipped 0.91 per cent, or 207.04 points, to 22,661.63 but Shanghai rose 0.22 per cent, or 5.99 points, to close at 2,750.29. Demand took a hit after Federal Reserve chairman Ben Bernanke warned there had been a "loss of momentum" ...