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Daily Economic Update

The Australian Bureau of Statistics reported that average weekly ordinary time earnings (AWOTE) for adult full-time employees rose by 1.3 per cent in the August quarter, taking the year-on-year rate to 6.3 per cent. Private sector average weekly ordinary ...

Macquarie pilots life insurance system

Macquarie Adviser Services' pilot project of straight-through processing of life insurance is "well advanced" and has drawn a positive response from the industry. The group's risk platform pilot project is being tested by 12 adviser groups nationally. ...

Market wrap

AAP  |  THURSDAY, 17 NOV 2005
The Australian share market is expected to open weaker as a softer US market and benign base metal prices weigh on the overall bourse. However, precious metal and oil prices both climbed sharply overnight and this could provide support to the domestic ...

Mishandled mandate transitions can cost 3 per cent: State Street

The surge in multi-manager portfolios and strategic rebalancing means managing mandate transitions efficiently is more important than ever. Nick Bonn, executive vice president and head of securities trading for State Street's Global Markets group in ...

Russell Master trust picks up $500 million post Choice

Russell Investment Group's SuperSolution Master Trust has picked up $500 million in corporate super fund assets since the start of the government's choice of fund legislation in July 2005. While the new mandates represent only 7,000 corporate members ...

Mariner trust awarded "Approved" rating by MIA

Mariner Mortgage Management Limited was awarded an 'Approved' rating from Managed Investment Assessments (MIA), after comparing the trust against similar mortgage funds in a comparative review. The review went on to rate Mariner Securities Limited ...

Stop speculating and get back to capitalism: Bogle

The superannuation industry should stop speculating for short term gains and start re-building the "truth" principles of capitalism, if we are to avoid the mistakes of corporate America. The message comes from John Bogle, founder and ex-chairman of ...

Gore says industry should steer by the stars

The Association of Superannuation Funds of Australia (ASFA) kicked off its annual conference this week with keynote speaker Al Gore telling the financial services industry to "steer by the stars". Gore spoke with the panache expected of a former American ...

Suncorp makes pension more flexible

Suncorp has launched a pension product designed for consumers who want access to their pension money but don't necessarily want to leave the workforce. "Our Easy Super non-commutable allocated pension allows people who have reached the age of 55 years ...

Clients push S&P to make ratings simpler

Standard & Poor's (S&P) is not making a big song-and-dance about it but the ratings house has dramatically changed its ratings scheme due to client demand for a simpler structure. Previously S&P would produce three separate ratings namely ratings for ...