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Market wrap - midday

AAP  |  MONDAY, 30 JUN 2008
... from last year's financial year it is a nice to see the last day of the financial year end of such a positive note. "The next financial year will be decidedly better." BHP had gained 88 cents or 2.05 per cent, to $43.77 and takeover target Rio Tinto ...

Franchise banking attract planners

MICHELLE BALTAZAR  |  MONDAY, 30 JUN 2008
... out of the trends the bank was seeing in the planning industry. "A lot of older planners are now looking to retire in the next few years so for us that offers a lot of opportunities. There will be a lot of consolidation and a lot of acquisitions happening," ...

Members Equity to offer super banking

MICHAEL HOBBS  |  MONDAY, 30 JUN 2008
... that would combine the group's banking capabilities with its superannuation know-how. "We do want to develop, within the next 12 months, a transactional style account that people can use with their super," said Wamsteker. The move potentially has a wider ...

NZ economy goes negative

ALEX DUNNIN  |  MONDAY, 30 JUN 2008
... some hopeful for a cut as early as July. The futures markets put the benchmark interest rate at 7 per cent for this time next year compared to 8.25 per cent today. Weaker domestic demand is also likely to reduce domestic price pressures and slow wage ...

PASF recruits UK pension CIO

... pension fund of UK grocery giant Sainsbury. The fund has also made two new external service provider appointments. Starting next month, Watson Wyatt will be the fund's asset consultant (replacing JANA and van Eyk) with a mandate to provide full investment ...

SMSFs take up instalment warrants

MICHAEL HOBBS  |  FRIDAY, 27 JUN 2008
... time to pick the right property and the banks haven't really gotten on the bandwagon but we'll probably see something in the next month or so," he said. "When we look at it as a total wealth creation strategy, [instalment warrants are] quite attractive ...

Perpetual to expand product line

MICHAEL HOBBS  |  FRIDAY, 27 JUN 2008
... is looking to roll out more income and structured products to meet growing adviser demand as it concludes its restructure next week. Damian Crowley, Perpetual general manager of adviser distribution, said although there had been legislation changes that ...

Fee for service planners on the rise

... last year compared to bank based planners. "However, bank based planners expect this gap to narrow significantly over the next three years," Meanwhile, planners who are mainly using MLC MasterKey Custom derived the highest proportion revenue from asset-based ...

AXA planner profitability model delivers

... 'client value proposition' option." The second half of this year would be another busy period for AXA as it moves to the next stage of its business improvement program. Robertson said, "We're looking at how to help planners with organic growth this year ...

Iron Ore price jumps 85 pct

ALEX DUNNIN  |  TUESDAY, 24 JUN 2008
... Agricultural and Resource Economics (ABARE) said Australia's commodity export earnings are forecast to increase by 40 per cent next year to a record $212 billion. Agricultural exports including wheat, barley, canola, pulses, grain sorghum, cotton lint ...