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Financial Planning

Australian sharemarket retreats slightly as boutique managers rise

Intech's latest research survey has revealed a slight retreat of one per cent in the Australian sharemarket for the month of March as boutique managers underpin strong performance.

Mercer study reveals superannuation expectation gap

A Mercer Wealth Solutions study has found a significant gap exists between what features employees want from superannuation funds and what features employers think their employees want.

RetireInvest signs up franchisees to new agreement

RetireInvest has finally completed signing up its franchisee network to its new franchise agreement after months of talks with the franchisee's representative body, the Proprietor's Advisory Council (PAC).

AXA chief claims mandatory super increases will not boost retirement

AAP  |  THURSDAY, 14 APR 2005
Mandatory superannuation contributions of 15 per cent will not help Australian in their retirement according to Axa Asia Pacific Holdings chief executive Les Owen.

APRA takes further action regarding HIH

The Australian Prudential Regulation Authority (APRA) has disqualified George Sturesteps, a former senior executive with HIH, from holding office as a director or senior manager of a general insurer under the Insurance Act 1973.

Macquarie increases its use of InfoComp

The Macquarie Bank Funds Management Group (FMG) will implement InfoComp's Composer product for its electronic fund administration needs and InfoComp's Conductor product for its messaging framework.

Zenith recommends transparent hedge fund

Zenith has given Deutsche Bank's second leveraged hedge fund offering Xenon Alpha Plus 2 (XAP2) a recommended rating highlighting that the product is highly transparent in cost and risk structure which 'makes a refreshing change for these types of products.

ATO relaxes SMSF reporting requirements

The Australian Taxation Office (ATO) has relaxed the reporting requirements of both trustees and auditors of self-managed superannuation funds (SMSF).

Change of fund under choice regime not mandatory: FPA

The Financial Planning Association of Australia has advised superannuation fund members not to be pressured into changing funds once choice of fund legislation is introduced particularly if change of fund is completely unnecessary.

Two CSAM funds on hold

Standard & Poor's (S&P) has placed two Credit Suisse Asset Management (CSAM) funds on hold following the resignation of its seven person high-yield team in New York.