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Financial Planning

Growth funds turn down in July: InTech

Data released by InTech Financial Services reveals the median growth-oriented superannuation fund lost 0.4% in July following the strongest annual returns in seven years in 2003/2004.

ASIC crackdown on misleading mortgage broker advertising

The Australian Securities and Investments Commission (ASIC) has continued its crackdown on the mortgage broking industry, issuing a warning on Tuesday to any company, which misleadingly claims to be independent.

Disclosure must be in dollars; ASIC

The Australia Securities and Investments Commission (ASIC) has invited public comment to its latest policy proposal released on Tuesday suggesting all disclosure figures for fees and benefits be presented in dollar terms.

Aust funds underexposed to small caps: Franklin Templeton

Australian investment managers are devoting too little resources to global small cap equities and missing investment opportunities as a result, Franklin Templeton Institutional said today.

Macquarie Active Fixed interest fund 3/5; Morningstar

Morningstar has completed research on Macquarie\'s Active Australian fixed interest strategy highlighting disappointing performance results from the fund, but predicting better times ahead.

Record Investments reports 57% profit growth in 03/04

AAP  |  TUESDAY, 10 AUG 2004
Financial products producer and investor, Record Investment reported net profit after tax for 2003/04 of $25.9 million, up 57% on the previous year.

Tighter prudential requirements for LMIs: APRA

A discussion paper released by the Australian Prudential Regulation Authority (APRA) on Monday proposes tighter capital restrictions for lenders mortgage insurers (LMI's) and a new regulatory capital model for the industry.

MFS buys Japanese resort

AAP  |  TUESDAY, 10 AUG 2004
Queensland-based diversified financial services group MFS, which took control of Victorian ski resorts Falls Creek and Mt Hotham in May, on Monday unveiled a multi-million dollar plan to build an 8000 bed ski resort in Japan.

Aberdeen Leaders achieves a podium result

Aberdeen Asset Management today announced its Aberdeen Leaders had achieved total, post tax return on net tangible assets of 26% for the year ending 30 June 2004, with a return on share price of 28.4%.

Four stage phase out for News Corp; S&P

Index provider Standard & Poor's announced on Friday it had decided on a nine-month rolling period for the removal of News Corp from the S&P/ASX indices.