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Superannuation

Lo-doc lending headaches

Are lo-doc loans too high maintenance? While the Big Four banks have all jumped on the lo-doc bandwagon, consulting firm Deloitte said other finance groups are starting to question the business model behind non-conforming loans.

Head of TOWER moves on after 13 months

HAMISH MADDEN  |  FRIDAY, 14 JUL 2006
After just 13 months in the role, the head of TOWER Investment Australia has stepped down to take up the reins at Professional Investment Services (PIS).

Cutting super benefit taxes affordable: IAA

ALEX DUNNIN  |  FRIDAY, 14 JUL 2006
Despite complaints from some industry experts that the Budget tax reforms were unaffordable, the Institute of Actuaries of Australia (IAA) has released research arguing the proposals will have only a minimal impact on government revenues.

SimCorp starting to make its mark downunder

ALEX DUNNIN  |  FRIDAY, 14 JUL 2006
SimCorp is beginning to make its mark in Australia and around the Asia-Pacific with recent wins in Macquarie and Deutsche bank, knocking over industry heavyweight DSTi's Hi-Port.

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.