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Financial Planning

Asia-Pac property fund flush with cash at start-up

HAMISH MADDEN  |  WEDNESDAY, 14 FEB 2007
PRUPIM, part of the Prudential group, has teamed up with global property giant LaSalle Investment Management to form an open-ended pan Asia-Pacific fund that the joint venture team says is the first for the region.

CommBank FUA reaches $168b

It's not just 'which bank' but 'which funds' today after the Commonwealth Bank posted a 22.7 per cent growth in funds under administration (FUA) to $168 billion in the half year ended 31 December 2006.

SEQUAL defends advisers on reverse mortgages

NICK OLIVER  |  WEDNESDAY, 14 FEB 2007
The Senior Australians Equity Release Association of Lenders (SEQUAL) has hit back at claims made by the Members Equity Bank that advisers will sell reverse mortgages in order to pocket the commission.

Market wrap - midday

AAP  |  TUESDAY, 13 FEB 2007
The Australian stock market was stronger at noon with a stronger banking sector helping offset patchy commodity prices and a flat lead from Wall Street.

Bendigo banks on advice

Tomorrow's bank will no longer just ring the tills, it will also give financial advice while you wait, judging from Bendigo Bank's corporate strategy.

In-specie transfers up 300 per cent: Multiport

Investors are transferring as many assets as they can into their self-managed super funds (SMSFs) to take advantage of the government's new super rules that will come into effect in July.

Mutiple super costs $315m: ASFA

MICHELLE BALTAZAR AND NICK OLIVER  |  MONDAY, 12 FEB 2007
The Association of Superannuation Funds of Australia (ASFA) estimates that the total cost of unnecessary and duplicate superannuation accounts is $315 million per year, a fraction of the $2 billion figure by consumer group CHOICE.

Survey predicts more mortgage defaults

A survey polling more than 900 mortgage brokers, planners and referrers has found that 61.4 per cent of respondents expect mortgage stress and defaults to increase this year, nearly double the figure from the previous survey.

FTSE launches climate change criteria into SRI indices

ALEX DUNNIN  |  MONDAY, 12 FEB 2007
Global index provider the FTSE Group has launched a new set of climate change criteria for including companies in their FTSE4Good Index Series.

Life settlement fund launches in Australia

ALEX DUNNIN  |  MONDAY, 12 FEB 2007
A wholesale fund that enables investors to gain exposure to life insurance policy settlements is now available in Australia.