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Superannuation

Macquarie buys insolvent Canadian mortgage funder

WWW.THESHEET.COM  |  TUESDAY, 13 JUN 2006
Macquarie Bank will buy Canadian mortgage funder Cervus Financial Group Inc - currently in bankruptcy protection - for A$15 million.

MacarthurCook builds up office portfolio

HAMISH MADDEN  |  TUESDAY, 13 JUN 2006
MacarthurCook has announced the purchase of substantial office space in Adelaide for $19 million.

CSF awards $26m fixed income mandate to IXIS

KATE HAGE  |  TUESDAY, 13 JUN 2006
Catholic Superannuation Fund (CSF) has awarded a $26 million fixed income mandate to IXIS Asset Management Australia for investment in a fund jointly developed with Loomis Sayles & Company.

Directors banned over unregistered schemes

Two directors of Atlantic 3 Financial have been banned from managing a corporation following applications made by the Australian Securities and Investments Commission (ASIC).

AFA's Adviser of the Year Award

The Association of Financial Advisers (AFA) has just launched its campaign for the fourth annual Adviser of the Year Award, and for the fourth time it will be sponsored by Zurich.

Don't drink coffee, make more than $160,000

A new online survey revealed that three out of four young Australians would happily drop daily habits such as buying take-away coffee, office lunch and cigarettes to save up for their retirement.

Morgan Stanley steps up local game

Short of using a brass band and a bugle horn, global giant Morgan Stanley Investment Management plans an aggressive push locally and is due to launch a series of funds, including Australian equities, while also hitting the recruitment trail.

ACT govt slashes SG

HAMISH MADDEN  |  THURSDAY, 8 JUN 2006
In its 2006-07 Budget, the ACT Government has announced it will reduce its superannuation guarantee level to 9 per cent from 1 July 2006 in a bid to reel in the expected 700 per cent increase in super costs over the next 30 years.

CFS appoints REST chief

Colonial First State Global Asset Management has appointed outgoing Retail Employees Superannuation Trust (REST) chief executive Neil Cochrane as its new global head of business development and deputy chief executive officer.

Consumers more than happy with advisers

HAMISH MADDEN  |  THURSDAY, 8 JUN 2006
Recent research has highlighted a divide between much reported negative perceptions of the industry and actual consumer experiences.