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Superannuation

Kiwisaver allows contributions to be diverted into mortgages

WWW.THESHEET.COM  |  MONDAY, 28 AUG 2006
Kiwisaver, New Zealand's answer to Australia's SG based super system, is going where Australia superannuation policy makers fear to tread by allowing members to divert half their contributions into their mortgage.

Peet's res property syndications now a $4.6 billion portfolio

ALEX DUNNIN  |  FRIDAY, 25 AUG 2006
The 111 year old residential property syndication group, Peet Limited, has achieved a record annual profit driven by land syndications in Victoria and WA that brings their total portfolio size to $4.6 billion.

Plum puts increased super savings on auto-pilot

HAMISH MADDEN  |  FRIDAY, 25 AUG 2006
Plum Financial Services has unveiled a new superannuation service which will divert a client's future pay raises into their super savings without them needing to lift a finger nor sacrifice any of their existing take home pay.

XPLAN in demand

HAMISH MADDEN  |  FRIDAY, 25 AUG 2006
IRESS, the parent of financial planning software provider XPLAN Technology, has reported its annual results, highlighting that the XPLAN model continues to gather pace with further growth expected as profitability ramps up.

Pimco plans absolute return fixed interest fund

KATE HAGE  |  FRIDAY, 25 AUG 2006
Pimco Australia has announced it is working on a new absolute return fixed interest fund, the Pimco Absolute Return Series (PARS), which will use leverage to let investors dial up their exposures.

S&P raise MEB credit rating

KATE HAGE  |  FRIDAY, 25 AUG 2006
Industry funds affiliated bank, Members Equity Bank, (MEB) has had its counterparty credit rating raised by Standard & Poor's from 'BBB-/A-3 to 'BBB/A-2'

Scam targets ethnic community

HAMISH MADDEN  |  FRIDAY, 25 AUG 2006
The Australian Securities and Investments Commission (ASIC) has warned investors to be wary of investment schemes targeted at specific communities after it acted to shut down a scam targeting the Australian Chinese community.

APRA got it wrong on AXA: AAT

ALEX DUNNIN AND AAP  |  THURSDAY, 24 AUG 2006
The Administrative Appeals Tribunal (AAT) has set aside the Australian Prudential Regulatory Authority's (APRA) disqualifications of seven directors of the former trustee of the AXA Australia Staff Superannuation Plan.

Scale is king and it saves members money too

ALEX DUNNIN  |  THURSDAY, 24 AUG 2006
Funds are no longer talking up mergers for their own sake, but it is already clear that well executed mergers or growth strategies can save members a significant amount of money.

After failed IPO, Snowy Hydro still top rated

ALEX DUNNIN  |  THURSDAY, 24 AUG 2006
Moody's Investors Service has upgraded Snowy Hydro's senior unsecured rating to A3, up from Baa1, in a rating review that commenced when Snowy Hydro first announced plans to conduct its now abandoned IPO.