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Financial Planning

Morningstar likes Souls

Morningstar Research has recommended the small caps strategy of Souls Funds Management, impressed by its credible results to-date.

Performance fees roll in for Macquarie

Macquarie Bank Group earned almost $170 million in performance fees in its infrastructure funds management arms for the financial year just ended.

Growing boutique industry set to continue

Australian boutique fund managers have experienced a 33 per cent rise in funds under management (FUM) over the past 12 months according to an annual survey from Dr Steven Vaughan & Associates with many managers now entering a second phase of development.

Macquarie's Equinox 6 and Atlas Trust close with $100 million in retail funds

Macquarie's Equinox 6 Trust and Atlas Trust have closed their investment offerings raising more than $100 million from Australian retail investors.

ASIC pleased with regional advisers

The Australian Securities and Investments Commission (ASIC) is encouraged by the efforts of regional advisers to comply with the Financial Services Reform Act following a series of regional adviser visits.

Zenith upgrades Macquarie's infrastructure trust

Boutique research house Zenith has upgraded its rating on Macquarie Global Infrastructure II (MGIFT II) to 'highly recommended' based on the quality of infrastructure assets sourced in the past 12 months.

AGEST replaces Superpartners with Pillar as new administrator

Industry fund, the Australian Government Employees Superannuation Trust (AGEST) has replaced long-term administration provider Superpartners with Pillar Administration.

MLC moves to enhance global offerings

MLC has added an allocation to global property to its diversified portfolios strategy and enhanced its global equity strategy replacing four managers with four new high conviction managers and moving two incumbent managers to higher conviction strategies.

CPA Australia responds to FSR refinements

In response to the Federal Government's proposed refinements to the Financial Services Reform Act, CPA Australia has welcomed the refinements however believes the sections around Statements of Advice (SoA) do not go far enough to meet the stated objectives.

MetLife to target advisers

Life insurer MetLife will target financial planners in its new distribution campaign following the completion of its acquisition of Travelers Life & Annuity and CitiGroup's international insurance operations last Friday.