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AMP Flexible Super records $1bn in FUM

RUTH LIEW  |  THURSDAY, 25 NOV 2010
AMP plans to broaden the consumer appeal of its low-cost Flexible Super product next year, after the new offering reached the $1 billion in funds under management mark within six months. Andrew Hobern, the newly-appointed director of business performance ...

AustralianSuper to hit $110bn by 2020

RUTH LIEW  |  WEDNESDAY, 24 NOV 2010
AustralianSuper intends to triple its funds under management from the current $33 billion to $110 billion in the next ten years using a five-pronged growth strategy, including buying and merging with other super funds. Paul Schroder, general manager ...

IOOF consolidates platforms

RUTH LIEW  |  WEDNESDAY, 24 NOV 2010
... footprint. The firm has already vacated several floors in Sydney and Melbourne, and has scheduled a property move in Melbourne next month. At the end of the financial year, IOOF had $99.1 billion in funds under management, administration, advice and ...

When everything went wrong

BENJAMIN ONG  |  WEDNESDAY, 24 NOV 2010
... this will include various clauses involving measures to reduce the deficit (ouch!) - may not be the ones to implement them next year. Irish Prime Minister Brian Cowen announced that he would call for an election after the passing of the government budget ...

Clouds gather in financial services

ELISE BURGESS  |  TUESDAY, 23 NOV 2010
... with clients...but also through our involvement with various industry associations such as ASFA," said Sammells. "Over the next 12 months we expect our consulting engagements across our superannuation, administrators, banking and general finance client ...

PIH planners vote yes to merger, future uncertain

RUTH LIEW  |  TUESDAY, 23 NOV 2010
... join us." Evans stated that shareholders are able to redeem half of their shares when the merger occurs in December or early next year. There is an escrow on the remainder where 25 per cent can be redeemed in two years (30 June 2012), and the rest a ...

Insurance drives new client wins: study

ELISE BURGESS  |  TUESDAY, 23 NOV 2010
... protection with 48.8 per cent of advisers expecting the amount of insurance written with their main risk provider over the next 12 months to increase. While the majority of advisers are predicting that the introduction of fee-for-service on insurance ...

Fear and thanks

BENJAMIN ONG  |  TUESDAY, 23 NOV 2010
... and Loch Capital Management to gather evidence that they engaged in insider trading. The word on the street now is who's next? My oh my, I don't know why the financial press attributed this as a market negative? Shouldn't this be another step in the ...

Zurich eyes platforms for growth

RUTH LIEW  |  MONDAY, 22 NOV 2010
Macquarie, BT and AXA are some of the platform providers Zurich Financial Services will be targeting next year as the firm shifts its strategy from launching new products, to increasing its presence in the platform sector. Matthew Drennan, general manager ...

Maritime offers fixed term investment option

RUTH LIEW  |  MONDAY, 22 NOV 2010
Maritime Super is launching a new fixed term investment option next month - a strategy normally associated with retail super funds, and arguably the first of its kind introduced by an industry fund. The fixed term investment option works like a fixed ...