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Superannuation

AFS increases stake in Salisbury

CHRIS NICHOLLS  |  THURSDAY, 26 APR 2007
AFS has acquired a 'strategic stake' in The Salisbury Group (TSG) dealership, adding 30 financial planning practices to its books and expanding its Funds Under Advice (FUA) to $6 billion.

LDI spurs growth of bond derivatives

The demand for inflation-linked bonds and their derivatives is set to rise in tandem with the growing popularity of liability driven investing (LDI) in Australia and overseas, according to experts.

Barclays to buy ABN AMRO

CHRIS NICHOLLS  |  TUESDAY, 24 APR 2007
Barclays has agreed to purchase rival ABN AMRO in a US$91 billion deal, creating the world's largest asset manager and the eighth largest wealth manager, with 47 million customers.

Rare coins and banknotes fund to raise $25m

Hindal Securities plans to raise $25 million through a fund that invests in rare Australian coins and banknotes, giving investors exposure to an alternative asset class that boasts returns as high as 35 per cent.

PIS Beijing office a world first

CHRIS NICHOLLS  |  MONDAY, 23 APR 2007
Australia's largest financial advisory group, Professional Investment Services (PIS), became the first non-Chinese wealth management service in China last week when it opened its new offices in Beijing.

AXA boosts profits, broadens Asian market reach

CHRIS NICHOLLS  |  MONDAY, 23 APR 2007
AXA chairman Rick Allert announced a 25 per cent jump in net profits, increases in capital and investment earnings and the acquisition of Winterthur Hong Kong at AXA's AGM last week.

Canadian pension fund returns topping 14 per cent

ALEX DUNNIN  |  FRIDAY, 20 APR 2007
Canadian and Australian pension funds have a lot in common as the good performance run of Canadian pension funds is continuing to be driven by both domestic and international equities.

Future Fund focuses on building blocks

Amid pressure from the industry to disclose how and when the Future Fund will deploy its near $50 billion assets, general manager Paul Costello stressed their main focus remains on building the right operational and investment infrastructure first.

Avanteos loses $7 billion Goldman Sachs mandate

Colonial First State (CFS) has lost a $7.1 billion Goldman Sachs JBWere mandate from its Avanteos platform, according to the CBA's third quarter trading update that was released yesterday.

Disclose what you invest in: ACSI

Australian Council of Superannuation Investors (ACSI) president, Michael O'Sullivan, has welcomed an updated fund governance standard but said super funds should improve their disclosure around which companies they invest in.