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Superannuation

Equipsuper builds intra-fund advice

ELISE BURGESS  |  TUESDAY, 14 JUN 2011
Equipsuper is building on its intra-fund advice model, creating the Member Adviser service where super members can seek limited financial advice and a statement of advice for a one-off fee of $75.

SMSF trustees pile $69.5m in US property

ELISE BURGESS  |  TUESDAY, 14 JUN 2011
Dixon Advisory has raised more than double its target from SMSF trustees in a fund IPO backed by US residential property, including assets in New York

Customers rate SMSFs the best

ALEX DUNNIN  |  FRIDAY, 10 JUN 2011
The latest Superannuation Satisfaction report from consumer researcher Roy Morgan has found that 75 per cent of SMSF customers are satisfied with their fund returns, compared to just 52 per cent for industry fund customers and 47 per cent for retail ...

Excess contributions penalties soar to $400m

MATT WOODINGTON  |  FRIDAY, 10 JUN 2011
The Australian Tax Office has now raised $400m through tax penalties on excess super contributions made between 2006 and 2010 with that figure likely to rise yet further.

PC to review how defaults appointed to Awards

ALEX DUNNIN  |  FRIDAY, 10 JUN 2011
The Productivity Commission will in 2012 review how default funds are appointed to Industrial Awards, said superannuation minister Bill Shorten, just one day after APRA released figures showing that the retail sector has again under performed the not-for-profit ...

LGS sees benefits in clean energy co-operation

MATT WOODINGTON  |  THURSDAY, 9 JUN 2011
The Government's proposals to reduce the risk of investing in clean energy and technology projects would be a welcome development given the current lack of viable opportunities in Australia.

MTAA Super strikes back against claims of unhedging

ALEX DUNNIN  |  THURSDAY, 9 JUN 2011
MTAA Super has rejected claims it lost $500 million in currency transactions in 2009 and dismissed claims it was unhedged during the depths of the GFC.

State Street secures REST lending deal

MATT WOODINGTON  |  WEDNESDAY, 8 JUN 2011
REST Industry Super has appointed State Street Corporation as its global securities lending agent, building on their relationship established earlier this year.

Plum lands $300m Lend Lease super mandate

ELISE BURGESS  |  WEDNESDAY, 8 JUN 2011
Plum Financial Services has secured management of property group Lend Lease Corporation's $300 million superannuation fund, which will move from its own fund management to Plum's master trust.

Shorten ups Trio super levy to $750,000

ELISE BURGESS  |  WEDNESDAY, 8 JUN 2011
APRA regulated superannuation funds will pay a maximum $750,000 under the compensation levy being introduced to recoup the lost $55 million for the victims of failed investment firm, Trio Capital.