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Superannuation

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.

Small caps can keep on delivering: Pengana

HAMISH MADDEN  |  TUESDAY, 11 JUL 2006
Pengana's Emerging Companies Fund has delivered another quarter of outperformance, despite a decline in the benchmark and not being leveraged to the resources growth story, and the group sees no reason for that performance to fall off any time soon.

Another Elm associate banned by ASIC

HAMISH MADDEN  |  TUESDAY, 11 JUL 2006
The Australian Securities and Investments Commission (ASIC) has banned a financial adviser associated with the failed Elm Financial Services group for three years for his part in convincing a couple to invest $1 million in a failed product.

ACSI praised for corporate governance campaign

HAMISH MADDEN  |  MONDAY, 10 JUL 2006
The Australian Council for Superannuation Investors (ACSI) has been praised for its work in the area of corporate governance and president Michael O'Sullivan has been elected to the board of the International Corporate Governance Network (ICGN).

Small cap funds not driven by skill: van Eyk

HAMISH MADDEN  |  MONDAY, 10 JUL 2006
According to van Eyk, the performance of small cap funds will be dictated by market conditions rather than the skill of the managers.

In office we trust: Macq

Listed group Macquarie Office Trust has proven that the office sector is enjoying a boom time with the trust posting a 12.6 per cent increase in total assets value following recent revaluations.

Time for another Wallis Inquiry

A leading academic has challenged the government's four pillar policy and called for a major review of the country's financial system akin to the scale of the 1996-97 Wallis Inquiry.