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Superannuation

MacarthurCook shares up five-fold as FUM tops $1bn

Property fund specialist MacarthurCook is riding the crest of the managed property fund boom with its shares up 455 per cent and funds under management (FUM) reaching $1 billion in just over three years.

ASIC bans broker and adviser for life

HAMISH MADDEN  |  MONDAY, 14 AUG 2006
The Australian Securities and Investments Commission (ASIC) has imposed permanent bans on an insurance broker and a former ANZ Bank adviser for syphoning off significant amounts of money.

Financial services exports trailing economy

KATE HAGE  |  MONDAY, 14 AUG 2006
Shadow Minister for Foreign Affairs, Trade and International Security Kevin Rudd has unveiled a plan to promote Australia as an Asia hub and boost financial services exports, saying we are missing a potential growth opportunity.

Mergers deliver cost savings to members

Vision Super and CARE Super may have abandoned plans to merge but those who took the leap, such as AustralianSuper and AUSCOAL Super, are enjoying big savings from merging their operations.

Get rid of the Greek: Russell

The separation of alpha and beta when chasing the highest investment returns may be all the rage right now, but according to the head of Russell Investment Group the less Greek used in industry jargon the better off investors will be.

Daily economic round-up

PETER BELL  |  FRIDAY, 11 AUG 2006
Continued good jobs growth of 150,000 over the last quarter, the second most healthy increase on record, caused overall employment to fall to 4.8 per cent, the lowest level since 1976. Employment rose by 50,700 in July - 27,100 were full-time jobs and ...

Spectrum Super adds and subtracts from menu

HAMISH MADDEN  |  FRIDAY, 11 AUG 2006
Trustee SMF Funds Management has announced changes to the Spectrum Super investment menu after a review of available options, resulting in significant additions and some funds being removed from the list.

AMP Capital ploughing $260m into Chinese equities

KATE HAGE  |  FRIDAY, 11 AUG 2006
AMP Capital Investors has been granted a license giving it access to over 1,400 stocks in China's largest equity market, usually restricted only to domestic Chinese investors.

Sporting sponsorships do not breach sole purpose: Freehills

ALEX DUNNIN  |  FRIDAY, 11 AUG 2006
Super funds sponsoring sporting teams is more a question about how trustees manage their fund rather than being about the sole purpose test.

Budget super consultations attract 3,500 submissions

ALEX DUNNIN  |  THURSDAY, 10 AUG 2006
The consultation period on the government's plan to simplify superannuation has closed, attracting an unprecedented 3,500 submissions.