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Investment

Australia ahead of pack in IT wealth spend

MATT WOODINGTON  |  FRIDAY, 22 JUL 2011
The wealth management industry in Australia and the Asia Pacific is set to outpace the rest of the world in IT investment over the next four years as the need for enhanced internet services and compliance technology fuels spending.

CBA's Norris to retire, Narev replaces

ELISE BURGESS  |  FRIDAY, 22 JUL 2011
Commonwealth Bank chief executive, Ralph Norris, has announced his intention to retire in November this year with group executive of business and private banking, Ian Narev, named his successor.

Investor eyes fixing on fixed interest

ALEX DUNNIN  |  THURSDAY, 21 JUL 2011
Demand for investments that deliver stable reliable income streams will push demand for inflation linked bonds, said a fixed interest manager trying to cash in on the sector.

No alarms as Bell profits fall

MATT WOODINGTON  |  THURSDAY, 21 JUL 2011
Bell Financial Group attributed a 24% dip in after tax net profit to one-off non-cash losses associated with the disposal of options held within subsidiary Southern Cross Equities.

Earnings up but jobs cut at State Street

ALISON BEVEGE  |  WEDNESDAY, 20 JUL 2011
Institutional financial services firm State Street today announced a second quarter increase in earnings but that was not enough to save jobs with a further 850 positions to be cut.

PIMCO urges SMSFs to get active

MATT WOODINGTON  |  WEDNESDAY, 20 JUL 2011
PIMCO's Australian bond fund has outperformed Australian shares over the past ten years and actively managed income funds are being tipped to add more value still.

Certitude partners with Threadneedle on global fund

ELISE BURGESS  |  WEDNESDAY, 20 JUL 2011
Certitude Global Investments will distribute international asset manager, Threadneedle Investments, Global Equity Fund, targeting the high net wealth market and retail markets.

Fidelity sees market ripe for growth investments

MATT WOODINGTON  |  TUESDAY, 19 JUL 2011
Fidelity's growth at a reasonable price (GARP) fund was the only manager in its peer group to retain a five star rating from Standard & Poor's fund services and portfolio manager Paul Taylor is optimistic that good value remains in the market.

Macquarie may slash jobs in dip

ALISON BEVEGE  |  TUESDAY, 19 JUL 2011
Investment banking group Macquarie may cut staffing levels due to an expected fall in revenue as their shares slumped to two-year lows.

ASX carbon tax ready and willing

ELISE BURGESS  |  TUESDAY, 19 JUL 2011
The strong outlook for carbon derivatives has placed the Australian Securities Exchange in prime position post-carbon tax, according to head of equities strategy, Morningstar.