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Superannuation

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.

MLC launches into after-tax reporting

HAMISH MADDEN  |  THURSDAY, 24 AUG 2006
With the growing chorus of calls for investment managers to report after-tax returns, MLC has announced it will start reporting after-tax returns for a number of its products beginning immediately.

Zurich's wrap goes past $3bn

HAMISH MADDEN  |  THURSDAY, 24 AUG 2006
Zurich Australia has reached a significant milestone with funds under administration on its wrap platform breaking through the $3 billion mark.

Perennial appoints ex-VFMC numbers man

Perennial Investment Partners has snapped up the former financial controller of the Victorian Funds Management Corporation (VFMC), Niall Keane, for a similar role within the firm.

Finance is a good career move

Structural changes that occurred in the financial services industry over the last 15 years have made the sector one of the best industries to work in, said the Reserve Bank of Australia's assistant governor in financial markets, Ric Battellino, at a ...

Keating and Sen Chapman to launch AFA conference

ALEX DUNNIN  |  WEDNESDAY, 23 AUG 2006
Senator Grant Chapman, chairman of the upcoming and controversial Parliamentary Inquiry into the Structure of the Superannuation Industry, together with former Prime Minister Paul Keating, will headline the Australian Financial Advisers (AFA) annual ...

Macq centralises property management

HAMISH MADDEN  |  WEDNESDAY, 23 AUG 2006
Macquarie Real Estate has unveiled a pivotal new element in its real estate structure, Macquarie Real Estate Management Services (MREMS), which will provide a centralised financial and property management service to the Macquarie real estate portfolio.