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Superannuation

Industry gives new AML/CTF Bill the nod

KATE HAGE  |  FRIDAY, 14 JUL 2006
The Federal Government has released a revised version of the draft Anti-Money Laundering and Counter Terrorism Financing Bill (AML/CTF) which has been cautiously welcomed by key industry groups who are pushing for a three year transition time.

Van Eyk appoints AQR, drops Perpetual and Cap Intl

Research and investment group van Eyk has re-jigged its Blueprint International Shares Fund, reducing its stake in Perpetual and Capital International to make way for US-based AQR Capital Management.

Credit Suisse pulls MasterWrap off the shelves

It was hinted at, talked about and it finally happened this month when investment group Credit Suisse announced its decision to close down its MasterWrap product.

Fixed income not for everyone, yet: FIIG

HAMISH MADDEN  |  THURSDAY, 13 JUL 2006
When it comes to implementing fixed interest strategies there are products and services for the big end of town and daylight second. This is a problem FIIG Securities is hoping to fix.

Super changes to cripple self-employed in retirement

HAMISH MADDEN  |  THURSDAY, 13 JUL 2006
The self-employed and business owners between 40 and 50 years of age have had their retirement plans hobbled by the Federal Government's proposed changes to super, according to Partners Superannuation Services.

TOWER to use Russell for MTM

TOWER Australia has appointed Russell Investment Group to manage its $2.6 billion multi-manager (MTM) investment portfolio, signalling TOWER's move to focus solely on distribution and so leave the manufacturing to Russell.

Govt supervisory levy revenue to jump 3 per cent

ALEX DUNNIN  |  WEDNESDAY, 12 JUL 2006
The government has announced the new supervisory levy rates that will apply to entities that wish to operate under APRA and ASIC jurisdiction.

Navigator adds lucky seven

In response to adviser demand for a broader range of managed funds to choose from, platform group Navigator has added not one but seven new funds into its fund list this month.

REST hits $10.5bn on a strong FY06

KATE HAGE  |  WEDNESDAY, 12 JUL 2006
The country's largest industry fund in terms of membership, REST, handed out its largest dollar distribution to members in the history of the fund after strong earnings for the 2006 financial year saw the fund grow by $2.1 billion to reach over $10.5 ...

Centro picks up $4.3bn US Heritage Trust

Listed property group Centro has signed a historic deal to buy Heritage Property Investment Trust, a US listed retail property REIT worth an estimated $4.3 billion.