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Superannuation

FSS scores as default fund for ACT Govt

KATE HAGE  |  FRIDAY, 23 JUN 2006
First State Super (FSS) has won its first tender as a public offer super fund, being selected as the default fund for the ACT Government.

No free lunch with high conviction funds: WestLB Mellon

Global investment manager WestLB Mellon played host to a round table session in Sydney this week where the who's who of the financial services industry battled out the pros and cons of so-called high conviction funds.

Bravura IPO closes over-subscribed

HAMISH MADDEN  |  FRIDAY, 23 JUN 2006
Financial software and professional services provider Bravura Solutions has announced it will list on the Australian Stock Exchange on Wednesday 28 June with its initial public offer (IPO) closing over-subscribed.

Govt recommends 3 per cent super top-up for under 40s

The Federal Government has made a series of recommendations in a bid to improve the superannuation savings of people aged under 40, including raising the current 9 per cent compulsory super contribution by 3 per cent.

Bank of Ireland ploughs private equity ground

HAMISH MADDEN  |  THURSDAY, 22 JUN 2006
The Bank of Ireland Group has announced it has a new arrow in its quiver of boutique businesses, forming a new joint venture with private equity fund of funds manager Paul Capital Partners.

ASIC serves up life to insurance rep

HAMISH MADDEN  |  THURSDAY, 22 JUN 2006
A former CGU Insurance representative has been permanently banned from offering financial services after repeated and deliberate dishonest behaviour, including spending client's insurance premiums on himself.

IXIS Loomis wins Telstra Super $100m mandate

KATE HAGE  |  THURSDAY, 22 JUN 2006
IXIS Asset Management Australia has won a $100 million mandate from Telstra Super to be invested in its Ixis Loomis Sayles Global Growth equity fund.

Genworth study uncovers $41.9bn graduate mortgage market

According to investments and mortgage insurer Genworth Financial Australia, the right mortgage loan products could see the graduate mortgage market grow from $16.6 billion to as high as $41.9 billion over the next 12 months.

Aon appoints two risk experts

Aon Australia has appointed a former head from Lloyds TSB and an ex-manager from Santos to two of its practice groups.

Separate board for Adelaide Managed Funds

WWW.THESHEET.COM  |  WEDNESDAY, 21 JUN 2006
Adelaide Bank is to create a separate company board to oversee its now $2.3 billion managed funds business.