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Superannuation

Perennial replaces Macq on Russell's property manager team

HAMISH MADDEN  |  TUESDAY, 3 OCT 2006
Russell Investment Group has removed Macquarie Investment Management Limited and appointed Perennial to manage 37.5 per cent of its Australian Properties Securities Fund as well as 20 per cent of its International Properties Securities Fund - A$ Hedged.

Future Fund climbs to $32 billion

ALEX DUNNIN  |  FRIDAY, 29 SEP 2006
The government will transfer $14 billion to the Future Fund during 2006-07, and on top of the $18 billion parked there in May the Future Fund has already reached $32 billion in committed money.

Market wrap - midday

AAP  |  FRIDAY, 29 SEP 2006
The Australian stock market firmed at noon today spurred on by a strong US lead and growth in the resources and banking sectors. At 1200 AEST the benchmark S&P/ASX200 index was up 18.1 points to 5,132 and the all ordinaries added 17 points to 5,092.5.

Less confusion, more clarity on managed accounts: IMAP

Competing players from Australia's fast growing managed accounts sector will join forces to present the public with a uniform set of terminologies and help clarify the confusion surrounding the different managed account products.

Westfield raises US$1.5 billion

WWW.THESHEET.COM  |  FRIDAY, 29 SEP 2006
Westfield Group has taken the opportunity to extend the maturity profile of its funding with a US$1.5 billion issue of senior guaranteed notes that were priced into the US corporate debt market last Thursday.

Broker mortgage market share keeps rising

WWW.THESHEET.COM  |  FRIDAY, 29 SEP 2006
The proportion of broker-originated home loans has risen to 37 per cent and brokers are now writing 45 per cent of new loans, according to the JP Morgan and Fujitsu Consulting Australia mortgage industry report.

Zurich appoints ex-CommInsure risk expert

Zurich Financial Services Australia has appointed former CommInsure chief underwriter, Lindy Rule, as the new chief underwriter in the life risk division.

Tandem in the market for flagship practices

HAMISH MADDEN  |  FRIDAY, 29 SEP 2006
Tandem Financial Advice has flagged plans to increase the number of planning practices under its Stairway program from 12 to 22 next year.

HOST-PLUS storms into NRL grand final

HAMISH MADDEN, ALEX DUNNIN  |  FRIDAY, 29 SEP 2006
In just its first year of partnering with the Melbourne Storm National Rugby League (NRL) team, industry fund HOST-PLUS will run out onto the field on Sunday night in front of an audience expected to number in the millions.

Super assets surge to $914 billion

ALEX DUNNIN  |  THURSDAY, 28 SEP 2006
The value of superannuation assets has jumped to $913.9 billion on the back of stellar equity investment returns and strong inflows, up 19.8 per cent over the last 12 months.