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Merged super funds coy on CEO decision

MATT WOODINGTON  |  WEDNESDAY, 13 APR 2011
... will take charge. Karen Gibson, chief executive officer, City Super, said they would make an announcement on that in the "next couple of weeks." What is clear is that a transition board will be in place for three years from June 30 2011 and will feature ...

Invesco switches quant team to value, ratings on hold

ALISON BEVEGE  |  TUESDAY, 12 APR 2011
... equities, is an institutional manager that the ratings agency has not yet covered. It will take over the management of the fund next Monday from Invesco's in-house quantitative strategies team. Mick O'Brien, chief executive of Invesco, said today that ...

Planners struggle to sell practices as values fall

ALISON BEVEGE  |  TUESDAY, 12 APR 2011
... planners seeking to stay in the industry would ride out the legislative changes but those who were looking to retire in the next few years were more concerned. Those planners that had started transitioning towards fee-for-service and away from commission-based ...

Asia to grow amid inflation threat: ADB

ELISE BURGESS  |  TUESDAY, 12 APR 2011
Asia will maintain solid expansion for the next two years amid fears of inflation and geopolitical uncertainties, according to a report from the Asian Development Bank (ADB). ADB's annual economic publication, Asian Development Outlook 2011 (ADO 2011) ...

Economic woes keep US growth in check

ALISON BEVEGE  |  TUESDAY, 12 APR 2011
... rates would be quickly reflected in higher market interest rates. Feldstein said the great problem would come within the next five years if China moves into deficit and ceases to be a net buyer of US Government securities. China is the largest buyer ...

Market Wrap - Midday

AAP  |  MONDAY, 11 APR 2011
... said he expected merger-and-acquisition activity among Australia's mining and oil companies to spur the market along for the next 12 months. "The Australian mining and oil sector is choc-a-bloc full of these wonderful, smallish bite-sized companies if ...

Bank reaches for industry fund members

ALISON BEVEGE  |  MONDAY, 11 APR 2011
... bank said there was lots of room for growth. "We have less than 5 per cent of the market banking with us. Our goal for the next three to five years is to double that," he said. "We've got plenty of scale for growth." The bank has launched a new home ...

Extra year for tax related overhauls

MATT WOODINGTON  |  FRIDAY, 8 APR 2011
... amendments," said Shorten. Under the new tax system MITs will be allowed to carry forward under and over distributions into the next income year without adverse taxation consequences under a new '0.4 of 1 per cent of net assets' test. "The proposed test ...

Unshaken and unstirred

BENJAMIN ONG  |  FRIDAY, 8 APR 2011
... now going cap-in-hand to the EU/IMF for a bailout whispered to be around 75 billion euros (US$107 billion). Spain's surely next in line. But if that's the case, you'll not be able to tell from its financial markets. Spanish equities closed 0.04 per cent ...

Fed money drives black swans away

BENJAMIN ONG  |  THURSDAY, 7 APR 2011
... Portugal announced that - dare they say it, it would be seeking EU/IMF financing bail out. What happened to Spain would be next in line? What happened to contagion? Spanish bond yields actually fell after the announcement and Irish bonds were smiling ...