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Superannuation

Pengana's hedge fund arm finds a new home

Malcolm Turnbull's brainchild and 'house of hedge funds' Pengana Hedge Funds has been turned over to a new consortium, including James Packer and former UBS investment bank chairman, Chris Mackay, who will also be launching a new long only global equities ...

Snowball acquisitions feeding bottom line

KATE HAGE  |  FRIDAY, 8 SEP 2006
Snowball Group has reported an after tax profit of over $1.7 million for the June 2006 year, with earnings per share increasing 150 per cent from $1.20 to $3.00 on the back of a continuing acquisitions strategy.

DSTi scoops major software deal

Funds management software DST International (DSTi) has won a major contract after one of Saudi Arabia's largest banks, Riyad Bank, signed up for their integrated software solutions.

Multiplex property fund closes oversubscribed

Property giant Multiplex's foray into funds management is proving to be the right move after its latest property fund offering closed this week oversubscribed thanks to strong retail demand.

Another HIH exec faces the music

HAMISH MADDEN  |  THURSDAY, 7 SEP 2006
A former HIH Insurance company secretary has appeared in court to answer charges concerning his role in the highly publicised collapse of Australia's second-biggest insurer at the time.

Barclays wins S&P top prize

KATE HAGE  |  THURSDAY, 7 SEP 2006
Barclays Global Investors (BGI) has taken out the fund manager of the year award at Standard & Poor's annual awards ceremony, held in Sydney last night.

Expats lose out on super

Foreigners with sizeable superannuation savings who plan to work or migrate to Australia will be disadvantaged under the new super laws and could be forced to keep their savings offshore or face higher local tax rates.

RetireInvest to focus on aged care

HAMISH MADDEN  |  THURSDAY, 7 SEP 2006
RetireInvest is deepening its presence in the aged care advice space, forming alliances to offer financial advice to prospective aged care residents.

Space-Time Research attracts VCs

Don't let the name fool you. Space-Time Research (STR) is not a secret society of physicists but a profit-making statistical software firm with IPO potential.

Investor optimism index down 43 per cent

The UBS/Gallup Index of Investor Optimism, a long-running monthly index that tracks investor confidence in the US, has dipped to a new low of 53 points, nearly half its base level of 93 points at the start of the year.