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Financial Planning

Closure of the MLC Investment Trust - MLC-Platinum Global Fund

MLC has announced the closure of its MLC Investment Trust - Platinum Global fund (PGF) effective from 30 September 2004.

Finance firm to launch India's first Islamic mutual fund

AAP  |  TUESDAY, 20 JUL 2004
Indian finance firm Parsoli Corp will launch the country\'s first Islamic mutual fund, conforming with Sharia law, which prohibits earnings from interest.

Morony comes out fighting to defend his CSS/PSS

CSS/PSS chief investment officer has come out fighting to defend his fund\'s investment performance after media reports last week labeled the fund performance "extremely disappointing".

Proposal to abolish exit fees splits industry

A Federal Opposition proposal to stop super providers charging exit fees when investors leave their funds has been rejected by the major body representing Australia 's major retail funds.

Large company's provide better super; Heron

Workers at large companies who stick with their workplace super fund until retirement could be up to a third better off than if they switched to a retail fund, according to research by independent super consultants, The Heron Partnership.

Choice of fund manager matters; Mercer

Active fund managers outperformed the benchmark by just 0.1% in the 2003/2004 financial year, below expectations, especially after allowance for fees, Mercer Investment Consulting said in its latest fund manger survey.

Macquarie invests $40mln in four new hedge and specialist funds

AAP  |  FRIDAY, 16 JUL 2004
Macquarie Bank invested $40 million in four new hedge and specialist funds, offering wholesale investors the chance to invest alongside the bank.

AMP China fund soon to close

AAP  |  FRIDAY, 16 JUL 2004
Two weeks from today, the AMP China fund will close to investors, and AMP Capital took the time to remind investors on Thursday.

PM Capital funds continue strong performance

PM Capital has released the financial year-end results for its Australian Opportunities, Enhanced Yield and Absolute Performance Funds, with all three significantly outperforming major market indices.

AIG's first China fund jv gets approval: paper

AAP  |  THURSDAY, 15 JUL 2004
AIG, the world\'s most valuable insurer, has won initial approval to set up an asset management venture in China in a maiden foray into the country\'s booming mutual funds sector, state media said on Thursday.