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Market wrap

AAP  |  FRIDAY, 15 APR 2005
The Australian share market is expected to head sharply south for the second straight session, as weakness in equity markets all over the world last night is likely to weigh on the domestic bourse. The local market surrendered more than one per cent ...

Mercer study reveals superannuation expectation gap

A Mercer Wealth Solutions study has found a significant gap exists between what features employees want from superannuation funds and what features employers think their employees want. The study called Benefits Outside the Square interviewed 558 employees ...

AMP gets Oriental with China Fund 2

AMP Capital Investors has released its second direct product - AMP Capital China Fund 2 - a refined version of its successful AMP China Fund, launched last year. The first fund raised $55.3 million, which, head of private clients Giles Craig says, shows ...

Supporting role for MMC's share strategy

Morningstar has given MMC's wholesale Australian share strategy a 'recommended' rating however points out its substantial cash holding can drag down returns. MMC's portfolio research approach includes fundamentals-driven, deep value analysis targeting ...

SwimEC off to flying start

After seven years in the making the financial services industry has launched its swimEC electronic standard, which aims to standardise electronic superannuation transfers across the industry. The swimEC (superannuation, wealth and investment management ...

NAB trims UK workforce by 1,700

The National Australia Bank will cut 1,700 jobs, or 15 per cent of its UK workforce, over the next 12 to 18 months as the bank moves to 'rebuild, revitalise and grow' its banking operation in the UK. The bank is booking a provision of $266 million to ...

Clearview and MBF Life agree to correct unit pricing errors

Clearview Life Nominees and MBF Life, in cooperation with the Australian Prudential Authority (APRA) and ASIC, have both agreed to correct errors pertaining to the unit prices of some life insurance and superannuation products. The errors relate to ...

IFSA claims superannuation fees down but debate fires up

The Investment and Financial Services Association (IFSA) has released figures and analysis claiming that superannuation fees and charges have fallen across the industry and the price differences between some retail and industry funds is very close. ...

XPLAN marks the spot for Navigator data

Financial advisers can now use the on-line financial modelling application known as XPLAN to record and maintain all of the transaction data relating to their clients invested in Navigator products. XPLAN currently has around 1,000 users and its service ...

Aberdeen wins super mandate for China fund

Aberdeen Asset Management has signed its first superannuation investment mandate for its China Opportunities Fund with Kraft Foods committing to $2.5 million to the fund. The move is the first institutional mandate picked up by the fund after it was ...