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More bite from subprime

MICHAEL HOBBS  |  THURSDAY, 13 DEC 2007
... you take into account almost 2 million loans, which will either be reset or become delinquent, will be refinanced over the next 18 months," he said. "Typically in a 'financial crisis' the amount of write-offs represents almost four per cent, which is ...

BT Wrap Advantage to rebate $400k

MICHAEL HOBBS  |  THURSDAY, 13 DEC 2007
... multi-manager funds to it Wrap Advantage program, a move it claims could see around $400,000 rebated back to investors over the next 12 months. The Balanced, Conservative, Growth and High Growth funds will join the existing group of 65 BT Wrap Advantage ...

Fundies find a loophole in money laundering law

WWW.THESHEET.COM  |  WEDNESDAY, 12 DEC 2007
... these programs is new customer identification rules. Other parts of the legislation will take effect in March and December next year, and the Government is working on a second tranche of AML/CTF that will cover lawyers, accountants and other professional ...

US-Aust rates spread widens to 250 bps

ALEX DUNNIN  |  WEDNESDAY, 12 DEC 2007
... protecting the leading role the US financial markets play globally. The US no longer controls oil, but hey they can control the next best thing: money. Which is why the Wall Street Journal has reported Bear Stearns saying, "The Fed continues to couch ...

Aviva buys Meritum stake

MICHAEL HOBBS  |  WEDNESDAY, 12 DEC 2007
... Australians is a growth sector." Brian Dau, director at Meritum, said Aviva's investment would allow Meritum to move to the next level and achieve our next strategic objective, which is to establish a salaried adviser force. "We our delighted with our ...

Fidelity turns on hazard lights for 2008

MICHAEL HOBBS  |  TUESDAY, 11 DEC 2007
Global equity markets will be more volatile next year highlighting the need for institutional investors to analyse their stock choices more stringently, according to Fidelity. "The economic backdrop is less than rosy. Inflation while not appearing a ...

Aussie manager wins global resources award

... platinum has also been strong. The industry is highly consolidated and this also encourages supply-side discipline." As for next year, Whitten said that the mining sector will remain volatile with a potenail weakening demand for base metals due to the ...

BRICs to surge as G7 slows

ALEX DUNNIN  |  MONDAY, 10 DEC 2007
... Australia is expected to experience moderate slowing as our growth rate falls from 4.5 per cent this year to 3.5 per cent next year and 3 per cent in 2009. "This slowdown, which will be accompanied by a further tightening of monetary policy to keep inflation ...

Skandia appoints head of retail distribution

... management for all Asgard-badged products. "Wes' experience and strategic distribution knowledge will be invaluable in the next journey of the Skandia business," Ross Laidlaw, Skandia's chief executive, said. Michelle Baltazar

Non-TFN tax attack

MICHAEL HOBBS  |  WEDNESDAY, 5 DEC 2007
... Superannuation Trustees (AIST) and financial planners worried the changes could also cause insurance policies to lapse. As of July 1 next year, super fund members who have not quoted member TFNs will receive a penalty tax of 31.5 per cent on top of the ...