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Financial Planning

Diamonds win for BT corporate super

BT Financial group has won a multi-million dollar mandate from diamond explorer De Beers taking its super flows success to over $80 million.

James Fielding awarded two industry super fund mandates

Industry superannuation funds Westscheme and Statewide super have each committed $50 million to co-invest in James Fielding Infrastructure's Australian Sustainable Investments Fund (ASIF).

ASIC to scrutinise accountants' SMSF advice

The Australian Securities and Investments Commission (ASIC) has announced it will be closely examining the advice given by accountants in relation to self-managed superannuation funds (SMSF).

Standard & Poor's rates CSAM and Vanguard offerings

Standard & Poor's has assigned an ASSIRT 'strong' fund rating on Vanguard's Australian shares high yield fund an ASSIRT 'competent' rating to Credit Suisse Asset Management's (CSAM's) global alternative strategies funds.

IFM bid for PacHydro 'fair'

An independent expert's report of Pacific Hydro commissioned by the company's independent directors has found the Industry Funds Management (IFM) bid of $5 per share for the group is 'fair and reasonable'.

FPA concerned over misleading advertising about Choice

The Financial Planning Association (FPA) has expressed its concerns that the current advertising campaigns regarding choice of fund are factually inaccurate and are creating a confusing climate for consumers in the lead up to the new regime.

Sunsuper seeks new CIO

Sunsuper's chief investment officer (CIO) Jack Gray will leave his position in June after two years with the fund to pursue personal interests.

APRA investigation leads to criminal charges

Five individuals associated with the running of a 'Wall & Ceiling Superannuation Fund' are facing a total of 34 criminal charges in Melbourne Magistrate Court following an investigation by the Australian Prudential Regulation Authority (APRA).

ASIC reveals financial services refinement projects

The Australian Securities and Investments Commission (ASIC) has put forward details of the eight projects it will embark on as part of the Federal Government's Refinements to Financial Services Regulation.

Pengana restructures business and manager line up

Hedge fund manager and incubator Pengana will restructure its business operations which will result in increased allocations to a number of strong performing managers and the closure of two funds.