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Market Wrap

AAP  |  THURSDAY, 6 OCT 2005
... from current levels. However, base metals were firmer, offering a small glimmer of hope in what is expected to be another red session. On the Sydney Futures Exchange, the December share price index contract was 37 points weaker at 4518. Yesterday the ...

RBA keeps rates on hold

As expected, the Reserve Bank of Australia left interest rates unchanged at 5.5 per cent following yesterday's Board meeting. While futures trading suggests the official cash rate would remain steady through to the first half of 2006, some are however ...

ING takes insurance into 21st century with OneCare

ING has launched a new insurance platform called "OneCare" that they believe completely redefines and repackages how insurance should be presented to consumers. ING Australia chief executive officer Paul Bedbrook says OneCare is "about bringing life ...

ESS and SSF super fund talks deadlocked

Union representatives are deadlocked in talks with the Victorian government over the proposed merger of the Emergency Services Superannuation Scheme (ESSS) and the State Superannuation Fund (SSF) amid their concerns members' defined benefits might be ...

Advisers still misunderstood: FPA

The Financial Planning Association (FPA) have released results from a number of surveys which it says reflect positively on financial planners and which they hope will dispel a number of misconceptions about their roles and value. Kerrie Kelly, chief ...

van Eyk adds Bernstein to its Blueprint line-up

van Eyk has appointed Bernstein Investment Research and Management (Bernstein) to its Blueprint Australian Shares fund. The addition of Bernstein to the Blueprint line-up has been funded from redemption of holdings in the Schroders Australian Equity ...

ING Australia to correct unit pricing errors

ING Australia and six of its major subsidiaries will provide up to $25 million in compensation to affected investors for past unit pricing errors. The company discovered the possible unit pricing errors last May and commissioned PricewaterhouseCoopers ...

Ipac appoints Challenger to add active return

Ipac is adding active return to it's Australian Shares manager portfolio by reshuffling to include Challenger Financial Services Group but reducing allocation to BGI and UBS amongst others. Challenger has an active market orientated approach, and will ...

Asgard re-aligns products into high touch low touch

Asgard has re-aligned its products into high touch low touch streams in response to growing acceptance that the advice aspect is the major differentiator across product streams and service models. The low touch stream include employee super, SMA funds ...

SMSF adviser ordered to repay clients

The Australian and Securities Investments Commission (ASIC) has ordered a self-managed superannuation fund (SMSF) adviser to repay his clients a total of $77,000. In December last year, ASIC had obtained permanent injunctions to prevent Steven Preston ...