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Superannuation

Pre-Christmas sale earns Absolute Capital NZ$30m

Absolute Capital Group Limited (Absolute Capital) celebrated Christmas early in 2005, raising NZ$30 million through the release of Packaged Income Notes (PINs), paving the way for an Australian launch.

Apples are not apples with new accounting standards

The recent adoption of international accounting standards will make it harder for investors to make "like for like" comparisons of investment data, according to the latest report from Tyndall.

NAB removes commission bias in the UK

WWW.THESHEET.COM  |  THURSDAY, 12 JAN 2006
In response to a survey that found three out of four consumers believe advisers push products that earn them the most commission, NAB owned UK banks Clydesdale and Yorkshire have revamped their financial advisers' commission structures.

Ironbridge creates largest independent underwriter

Dexta Corporation, one of Ironbridge Capital's investee companies, has entered into a conditional agreement to acquire four of Aon's Australian underwriting agency businesses, making it Australia's largest independently owned insurance underwriting agency ...

US defined benefit scheme shake-out continues

In a pre-emptive move to avoid the pension-related miseries of General Motors, US computer giant IBM announced it will close its defined benefit retirement scheme to new employees in favour of a 401(k) system.

Fidelity drops their investment director

Fidelity Investments Australia (Fidelity) has dropped its Investment Director, Charles Wall, making the business-only role redundant.

CFS property team jump ship

Colonial First State has had a rough start to the new year, with their entire listed property securities team jumping ship, triggering Morningstar and S&P to put the CFS property securities funds on hold.

Statewide gets extended public offer license

South Australian-based public offer industry fund Statewide has achieved its Registrable Superannuation Entity (RSE) and Extended Public Offer License (EPO).

Mac Media broaden debt with Taiwanese broadband buy

Macquarie Media Group (MMG) has been bankrolled by Macquarie Bank to snap up its first acquisition offshore, Taiwan Broadband Communications (TBC).

Westpac launches zero monthly fee account

Westpac takes a leaf out of Virgin Money's zero-fees formula when it launched a new account this week called 'Westpac One Basic', a savings account designed for pensioners and 'disadvantaged Australians'.