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Superannuation

Adviser faces charges of pilfering $1.3m

HAMISH MADDEN  |  FRIDAY, 6 OCT 2006
A Victorian financial adviser has faced court over the misappropriation of around $1.3 million of clients' money.

IOOF takes full ownership of Perennial

Listed funds management group IOOF will buy the remaining equity in Perennial Investment Partners in a deal worth around $68 million, taking its ownership from 78.15 per cent to 100 per cent.

PIS launches new income fund

Professional Investment Services (PIS) has launched the Discovery Investment Services Core Income Fund, investing primarily in two Australian Unity Investments (AUI) mortgage funds.

Private equity capital raising breaks $4bn for 2005-06

ALEX DUNNIN  |  THURSDAY, 5 OCT 2006
Private equity funds invested $2.3 billion into target companies while raising $4.1 billion in new capital raisings in the 12 months to 30 June 2006.

We need to show people how to plan: AXA

ALEX DUNNIN  |  THURSDAY, 5 OCT 2006
While too few Australians have a financial plan, many are unsure what a financial plan actually is and how to go about developing one.

Funds must make it easier to amalgamate small accounts: Costello

ALEX DUNNIN  |  THURSDAY, 5 OCT 2006
Treasurer Peter Costello, speaking at a Committee for Economic Development of Australia (CEDA) conference this week, said the superannuation industry must work harder to make amalgamations of small accounts easier.

New alternatives offering from van Eyk

KATE HAGE  |  THURSDAY, 5 OCT 2006
Aurora Funds Management has been appointed by van Eyk as the responsible entity for its new van Eyk Blueprint Alternatives Plus Trust, focusing on alternative diversification strategies.

Dexion raises $586m and launches AUD share class

UK listed fund of hedge funds (FOHF) Dexion Absolute has completed a record $586 million share issue raising on the London Stock Exchange and has launched a new Australian dollar denominated share class for local investors.

Asteron ramps up insurance and income protection

KATE HAGE  |  WEDNESDAY, 4 OCT 2006
Asteron has ramped up its life insurance and income protection offerings to try to remedy a significant shortfall in income protection for small business owners and self-employed workers.

ING appoints ex-MLC chief underwriter

ING has appointed John Leonard, former MLC head of claims and underwriting, as the group's new chief underwriter.