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Financial Planning

Class action filed against retirement fund managers

AAP  |  FRIDAY, 10 JUN 2005
David Smith, the founder of the LifeTrack Superannuation Fund, and his former chief executive Alan Rich were named as defendants in class action papers lodged in the NSW Supreme Court yesterday.

More enter the million dollar club

Australians became much wealthier in 2004 according to the latest Merrill Lynch Capgemini World Wealth Report, which found the number of high net worth individuals (HNWI) in Australia grew by almost 15 per cent to 134,000.

Suncorp boards with a $35 million mandate win

Suncorp Investment Management has won a $35 million balanced fund mandate from the ACT Construction Industry Long Service Leave Board.

Interim relief for super fund product disclosure extended

Superannuation trustees will now not have to satisfy the product disclosure requirements of s1012IA of the Corporations Act 2001 until 30 June 2006.

HPM Industries outsourcers super to ING

Electronic manufacturer and distributor HPM Industries has appointed ING Corporate Super to administer its $20 million corporate super fund from 1 July 2005.

Mercer to monitor super switching intentions

Almost a quarter of superannuation fund members will move their superannuation, or are considering moving their superannuation, post choice according to a new quarterly index launched by Mercer.

Heron urges corporate super fund members to be wary of Choice

Independent superannuation consultants The Heron Partnership has warned members of corporate superannuation funds to be cautious in their approach to choice of fund.

Standard & Poor's rates Aberdeen and Colonial First State

Standard & Poor's has assigned a strong ASSIRT rating to Aberdeen's Asian and Emerging market equity funds and a competent ASSIRT rating Colonial First State's (CFS) wholesale global property securities fund.

ABN Amro introduces longest self funding instalment warrants

ABN Amro has launched self funding instalment warrants on the ASX with a 10 year period covering 34 major Australian stocks.

IRESS and Reuters to integrate order systems

Reuters will team-up with IRESS Market Technology to integrate their order routing networks in a deal which will facilitate order flow from Reuters customers to any IRESS network clients in Australia and New Zealand and vice versa.