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Financial Planning

MFS breaches $184m loan

RUTH LIEW  |  TUESDAY, 25 MAR 2008
MFS Premium Income Fund is engaging the Bank of Scotland in talks following a multi-million dollar loan facility breach.

Ken Done sues over $53m bad advice

MICHAEL HOBBS  |  THURSDAY, 20 MAR 2008
Renowned artist Ken Done is suing his accountant, the accountancy firm, Bentley Barton & Partners and Commonwealth Bank-owned Financial Wisdom after receiving poor financial advice that cost him $53 million.

AXA to invest $30m in life insurance

AXA Australia plans to invest more than double each year into its life insurance business to move from its position as a sixth rank provider to one of the top three in the sector.

Building green for the future

RUTH LIEW  |  THURSDAY, 20 MAR 2008
Green buildings are gaining traction in Australia and superannuation funds should act now if they would like to cash in on the sustainable building sector, says an industry expert.

Superfund Group pans for Australian gold

MICHAEL HOBBS  |  THURSDAY, 20 MAR 2008
Global managed futures fund specialist, Superfund Group, is extending its operations down under to tap into the local demand for alternative investments and commodities.

FPA to provide PI insurance to members

MICHAEL HOBBS  |  THURSDAY, 20 MAR 2008
The Financial Planning Association (FPA) is calling for submissions to provide group indemnity insurance for its members by June this year.

Future Fund to adopt ESG

RUTH LIEW  |  WEDNESDAY, 19 MAR 2008
The Federal Government's Future Fund has confirmed it will be looking at environmental, social and governance (ESG) issues as part of its investment strategies in 2008.

Rev mortgages new sales down 10pc

MICHAEL HOBBS  |  WEDNESDAY, 19 MAR 2008
The SEQUAL Trowbridge Deloitte Reverse Mortgage Study has revealed $466 million worth of reverse mortgage loans were sold in Australia last year, a 10 per cent fall compared to 2006.

ING PEAL cashes in on private equity

MICHAEL HOBBS  |  TUESDAY, 18 MAR 2008
ING Private Equity Access Limited (ING PEAL) has sold its entire or part investment at or above the valuation price in a number of companies across three of its underlying funds.

Macquarie shuts down US mortgage operation

WWW.THESHEET.COM  |  TUESDAY, 18 MAR 2008
A week after Macquarie Bank announced its decision to get out of the Australian mortgage market, the group's US subsidiary Macquarie Mortgages Inc of Jacksonville, Florida, wrote to brokers informing them that it would no longer be accepting applications ...