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Daily Economic Update

The US National Association of Realtors (NAR) expects existing home sales to fall by 6.0 per cent this year, new home sales to drop by 10.9 per cent and housing starts to decline by 3.2 per cent. These forecasts, if proved correct, have serious ramifications ...

Pengana beefs up team after solid results

Pengana Capital has announced the appointment of a national business development manager to fuel its growth on the back of being awarded a 'highly recommended' by Lonsec. Based in Melbourne, Justin Brooks will report to Russel Pillemer, chief executive ...

Finsia surges ahead to 20,000 members

KATE HAGE  |  TUESDAY, 4 APR 2006
The Financial Services Institute of Australasia (Finsia) has surged ahead following its successful merger and plans to now ramp up its efforts to be the definitive representative of financial services professional standards, education and integrity. ...

Seniors Week reminds planners to get in early

KATE HAGE  |  TUESDAY, 4 APR 2006
New South Wales Seniors Week, running from 2-9 April, has seen renewed calls for advisers to ramp up retirement planning for their clients, starting earlier and planning for longer. Financial services provider Asteron's head of technical services, Louise ...

Virgin home loan spices up mortgage lending

Competition is about to heat up in the home loan market after Virgin Money launched its much-anticipated home loan product which promises a low 6.59 per cent variable interest rate, a 'repayment holiday' option and savings of over $25,000. Virgin Money ...

Market wrap

AAP  |  MONDAY, 27 FEB 2006
The Australian share market is expected to open firmer as firmer base and precious metal prices create positive sentiment for a market at the tail end of its earnings season. On the Sydney Futures Exchange, the March share price index was 14 points ...

TWUSUPER throws weight behind alternatives

TWUSUPER has cast tradition aside and has increased its asset allocation to 'alternatives' from 3 per cent to more than 25 per cent, with plans to spend at least $500 million in the asset class. After a comprehensive investment review done with Mercer ...

S&P and CITIC JV to ramp up Asian indices

S&P and China's leading index provider CITIC has formed a joint venture in a bid to create more benchmark indices for the Chinese securities market. The 50-50 joint venture will be named Standard & Poor's/CITIC Index Service and builds on both group's ...

MLIM and BlackRock create $1.35 trillion fund

Following weeks of mounting speculation, Merrill Lynch Investment Management (MLIM) is now set to merge with listed US money manager BlackRock to form a $1.35 trillion investment juggernaut. In a move that has sweeping ramifications across the US managed ...

Legg Mason funds placed "on hold" after key departures

S&P has placed Legg Mason's Australian equity and Australian property securities funds "on hold" following the announcement of key management departures. As reported by the Financial Standard on 9 February, Michael Wood, head of Australian equities ...