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Superannuation

Financial Wisdom grows and goes its own way

HAMISH MADDEN  |  MONDAY, 26 JUN 2006
Dealer group Financial Wisdom continues to develop its progressive services and strategies while at the same time expanding its network, announcing it now has 410 advisers under its umbrella.

Back to bonds: EPFR

The flight to quality has intensified in recent weeks with global bond funds the only fund category that enjoyed a net inflow in the last month, according to a US-based global bonds and equity funds tracker.

SAITeysMcMahon on the acquisition trail

ALEX DUNNIN  |  FRIDAY, 23 JUN 2006
Specialist funds management group SAITeysMcMahon (SAITM) has added to its growing direct property portfolio by acquiring $623 million in commercial retail properties from Woolworths supplemented by the $120 million purchase of a Sydney metro office property.

Finsia SEEKs new frontier with partnership

HAMISH MADDEN  |  FRIDAY, 23 JUN 2006
The Financial Services Institute of Australasia (Finsia) has announced a strategic partnership with SEEK Learning as part of a plan to expand the range of financial services education options.

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.