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CommBank loses strategy chief

Commonwealth Bank's group executive in strategic development, Hugh Harley, is to leave the bank next month to pursue other interests. "I am disappointed to see Hugh leave the Bank, but I respect his decision to pursue other interests. He has made a ...

Phoenix won't rise from $1b fraud

... against Phoenix, a German hedge fund that embezzled more than $1 billion from 30,000 companies and individuals draws to a close next month, two years after the fraud was uncovered. In March 2005, the German regulator BaFin shut down the operations of ...

Save money, save water: X Inc

... with the initiative, X Inc undertook a water care survey which revealed that the water crisis will play a big role in the next elections. More than 90 per cent of all the survey respondents said that household water issue would impact how they would ...

MEB warns on reverse mortgages

... their incomes. Trowbridge Deloitte conducted a study last year which predicted a boom in reverse mortgage sales over the next 12 to 18 months. It found that 50 per cent of Australia's top financial planners intend to use reverse mortgages to grow their ...

BT setting a new course in alternatives

HAMISH MADDEN  |  TUESDAY, 6 FEB 2007
... have two well advanced projects that we are working on at the moment that we hope to be bringing to these funds within the next six months and several beyond those on the research and development agenda." IWL's recent ratings reviews awarded BT's four ...

Daily economic round-up

PETER BELL  |  MONDAY, 5 FEB 2007
... releases suggest that the slight softening of consumer demand will relieve any pressure on the RBA to raise the cash rate when next it announces its interest rate decision this Wednesday. The Australian business community has formally acknowledged the ...

Interest rates on the way down

ALEX DUNNIN  |  THURSDAY, 1 FEB 2007
... are beginning to come to an end. That's why interest rates will remain on the high side of the trendline. But I contend the next moves will be down not up." They will start moving up again in 2009, he said. Despite the dampening economy, Eslake was upbeat ...

MIA predicts property slump by 2010

... explained that property is a lagging, not a leading indicator, of the economy so with a sharemarket correction predicted over the next couple of years, the property market could soon follow. The market downturn could be triggered by higher interest rates ...

Market wrap - morning

AAP  |  THURSDAY, 1 FEB 2007
... NSW government. A vote on the agreement will take place at the company's extraordinary general meeting in the Netherlands next Wednesday. In economic news, the Reserve Bank of Australia (RBA)'s commodity price index for January is due out, and the Australian ...

Macq's the new kid on the SMA block

... managed fund, however, an SMA is not unitised and the investor is the beneficial owner of the underlying shares. An IMA is the next step up from SMAs where the portfolio is tailored to the individual investor. Broadly speaking, managed accounts are considered ...