A new survey by global banking giant HSBC suggests that fund managers are more bullish on equities today, than they were three months ago, and are maintaining their holdings of Australian equities steady.
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Australia’s superannuation industry, estimated to manage $1.2 trillion in assets, will eventually have to assume a leadership position as the country’s largest institutional investor as it increases in size by more than four fold over the next two decades.
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Kevin Rudd’s government says it full intends to follow through with controversial new regulations for the superannuation industry despite vehement opposition from the sector.
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Retail and industry superannuation funds have joined forces in a bid to lobby the government against implementing new regulations for the $1.2 trillion industry, arguing that such changes would only result in higher costs and increased complexity.
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A newspaper report in the Australian has revealed that investors, who had placed money in the one Australia’s largest frozen funds, were being sold stock by the manager at highly inflated values, whilst the same manger was simultaneously dumping the same investments.
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The competition regulator says it is more concerned with the proposed takeover of AXA Asia Pacific Holdings by National Australia Bank, than it was by the original bid tabled by AMP.
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A group of managed investment and superannuation funds with $260 million in assets, once run by bankrupt investment company Trio Capital are to be closed down.
The six investment funds which include the Astarra Startegic Fund, a fund which invested $118 million in an opaque company registered in the British Virgin Islands, are being forced to wind themselves up following action by the administrator of Trio, PPB.
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Mortgage fund investors may be required to wait as many as four years for access to cash held in frozen investments.
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If you are making one of these six financial mistakes, you probably aren’t aware, but doing so puts your financial security in jeopardy.
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Australian banking major Westpac Banking Corporation has joined its rivals in improving its online trading platform as the lender gears up to grow its client based by as much as 8 per cent during 2010.
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