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Superannuation

MLC and Aon take out top insurance awards

KATE HAGE  |  WEDNESDAY, 26 JUL 2006
MLC Insurance took out the life insurance company of the year award at the Australian and New Zealand Insurance Industry Awards, with Aon Australia being named broker of the year for the second consecutive year.

Westpac offloads $300bn sub-custody business to HSBC

Westpac Banking Corporation has announced it is to sell its sub-custody business in Australia and New Zealand, with assets under custody of over $300 billion, to HSBC for $150 million.

Staff churn afflicts underperforming small cap sector

KATE HAGE  |  TUESDAY, 25 JUL 2006
Staff churn affected one-quarter of Australian small cap managers. This at a time when the sector notably underperformed could help drive down the ratings of 25 per cent of all S&P rated managers.

Coin to underpin Wealthsure

HAMISH MADDEN  |  TUESDAY, 25 JUL 2006
Macquarie owned Coin Software will be rolling out its software to 130 Wealthsure planners following an announcement that the two had entered into a strategic partnership.

Perennial Real Estate scores mandate and moves past $1.5bn

HAMISH MADDEN  |  TUESDAY, 25 JUL 2006
Perennial Real Estate Investments has scored a global property securities mandate from Australian Primary Superannuation while announcing a milestone achievement of $1.5 billion in funds under management.

ASIC plays educator on the radio

The Australian Securities and Investments Commission (ASIC) has launched a six part radio series, Your Money, designed to help consumers distinguish genuine financial opportunities from scams.

Leyland opens Melb office to meet IMA demand

KATE HAGE  |  MONDAY, 24 JUL 2006
Stockbroking and equity manager group Leyland Private Asset Management (Leylands) is expanding into Melbourne with plans to grow its individually managed accounts (IMA) business.

Aussie women feeling the pinch: ipac

The interest rate rise, recent stockmarket correction and high petrol costs have made women in Australia more 'financially insecure' than they were three months ago, according to the latest quarterly ipac Financial Security Index released this week.

JANA to manage $465 million transition for ASG

HAMISH MADDEN  |  MONDAY, 24 JUL 2006
Jana Investment Advisers has been appointed by the Australian Scholarships Group (ASG) to advise on transitioning $465 million of funds from fixed interest investments to a balanced fund allocation.

Compliance alone doesn't make the grade

HAMISH MADDEN  |  MONDAY, 24 JUL 2006
Competent is a long way from professional, professional is not something that should be prescribed by the regulators and, as an industry, we've had our focus all wrong, according to Financial Services Educators Agency Australia (FSEAA) general manager ...