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Superannuation

New performance reporting standards for retail funds

ALEX DUNNIN  |  WEDNESDAY, 26 MAY 2010
The Investment and Financial Services Association is implementing a new investment reporting format that will require retail super funds to revert back to performance figures gross of any ongoing and advice fees.

LUCRF rolls out financial advice

COMPANY RELEASE  |  TUESDAY, 25 MAY 2010
LUCRF Super has launched a new financial advice service, following ASIC approval to extend authorisation of the fund's Australian Financial Services Licence (AFSL).

Simpler, faster, cheaper rollovers: IFF

RUTH LIEW  |  MONDAY, 24 MAY 2010
The Industry Funds Forum has launched an electronic commerce hub aimed at revolutionising super rollovers.

Resistance grows to SG increase

ALEX DUNNIN  |  FRIDAY, 21 MAY 2010
Opposition is growing to increasing the Superannuation Guarantee and the super funds industry has a major fight on its hands.

HOSTPLUS opens NT and Sydney offices

COMPANY RELEASE  |  THURSDAY, 20 MAY 2010
The $7 billion-plus HOSTPLUS has opened new offices in Darwin and Parramatta, to cater for continued growth in these areas.

CalPERS reprimands board member

RUTH LIEW  |  THURSDAY, 20 MAY 2010
One of the largest US funds, CalPERS, has voted to strip one board member's position as chair of the fund's health benefits committee along with her travel privileges after failing to file financial disclosure statements.

AMP rationalises super and pension prods

COMPANY RELEASE  |  THURSDAY, 20 MAY 2010
AMP Financial Services is cutting the number of superannuation products it provides from six to two - closing four superannuation and pension products with more than $34 billion in assets under management to new money from July.

RSPT is govt trying to pick winners: academic

ALEX DUNNIN  |  THURSDAY, 20 MAY 2010
The resource super profits tax is a cash grab from the mining industry that shows overseas investors Australia is prepared to change the rules at the height of a boom, said a leading tax academic.

AvSuper appoints Hannover Life Re

RUTH LIEW  |  WEDNESDAY, 19 MAY 2010
The $1 billion-plus AvSuper has appointed Hannover Life Re as its new insurer.

JANA wins legalsuper mandate

COMPANY RELEASE  |  TUESDAY, 18 MAY 2010
Legalsuper has re-appointed JANA Investment Advisers as its asset consultant for a three-year term.