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Financial Planning

City Pacific withdraws MFS offer

Diversified financial services group City Pacific has backed out of a proposed merger with MFS shortly after MFS announced the demerger of its two businesses.

Scottish Equitable puts lid on withdrawals

RUTH LIEW  |  MONDAY, 21 JAN 2008
A shaky UK property market has dealt a blow to Scottish Equitable, one of England's biggest commercial property funds, as the firm moves to put a 12-month ban on withdrawals from its ₤2 billion ($4.4 billion) property fund.

MFS to split investment and leisure arms

Listed financial services and leisure group MFS Limited has announced it intends to separate its funds management and leisure business Stella into two ASX-listed companies subject to shareholder approval.

Direct equities gain ground in platforms

MICHAEL HOBBS  |  FRIDAY, 18 JAN 2008
Fund managers can't afford to be complacent after leading platform groups noted a marked shift of fund flows to direct equities instead of managed funds.

CommInsure tracks lost super

RUTH LIEW  |  FRIDAY, 18 JAN 2008
Commonwealth Bank's insurance arm, CommInsure, has embarked on a mission to help customers track down and consolidate over $2.5 million of their lost super accounts.

K2 to tread lightly in 2008

RUTH LIEW  |  FRIDAY, 18 JAN 2008
Boutique fund manager K2 Asset Management's international absolute return funds have reported positive returns to date, but the first half of 2008 may soon prove to be the toughest challenge yet for its investors.

Life ban for adviser after altering codes

RUTH LIEW  |  THURSDAY, 17 JAN 2008
Disgraced Tasmania-based financial adviser Adam Grant has been permanently banned from providing financial services after being caught manipulating broker codes to siphon commission payments.

Perpetual FUM falls by $700m

RUTH LIEW  |  THURSDAY, 17 JAN 2008
Diversified fund manager Perpetual Limited takes a $700 million hit in its funds under management (FUM) in December due to dampened investor sentiment.

Austock High Yield gets three stars

MICHAEL HOBBS  |  THURSDAY, 17 JAN 2008
Austock Asset Management has extended its reach into the financial planning industry after its High Yield Fund received a three star rating from research specialist Standard & Poor's.

Macq wrap adds 12 more funds

RUTH LIEW  |  WEDNESDAY, 16 JAN 2008
Macquarie Wrap today announced that it has included 12 new investment funds across its various platforms during December, bringing the total number of funds to approximately 640.