Trio former chairman and director exluded for nine years

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ASIC today announced it has entered into an enforceable undertaking (EU) with former chairman and director of Trio Capital Limited (Trio) Mr David Andrews. Mr Andrews was a non executive director between November 2005 and January 2006 and then again from July 2006. He was Chairman of the board of Trio from February 2007. He […]

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One upgrade, one downgrade in S&P’s Australian-Equity Value peer group

Standard & Poor’s Fund Services today released its value peer group as part of its Australian Equities Large-Cap sector review. We upgraded the PM Capital Wholesale Australian Share fund to three stars, but downgraded the AXA Wholesale Australian Equity Value Fund, which is managed by Bernstein, to three stars. We affirmed our five-star ratings on […]

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BT’s Chris Caton to hit the airwaves

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BT Financial Group, one of the country’s largest wealth managers, will commence a one-off television advertising campaign from tomorrow 12 August aimed at reassuring investors after an extraordinary week on the global share markets.  Dr Chris Caton, BT Financial Group’s long-time chief economist, will front the television ads. BT Financial Group has seen the highest-ever call […]

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FPA calls on Government to scrap opt-in

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The Financial Planning Association (FPA) has again called on the Federal Government to reconsider its position on a two year opt-in as proposed in the Future of Financial Advice (FoFA) reforms, citing recent market volatility and seemingly contradictory statements by ASIC as further examples of potential unintended consequences of legislating an opt-in requirement. Following lengthy […]

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Current market volatility and margin lending products

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In the context of the current market volatility, ASIC is reminding advisers and margin lenders of their obligations under the recent margin lending reforms, specifically in relation to advisers’ obligations to notify clients of margin calls and new responsible lending provisions. ASIC has been contacting dealer groups to request that they forward this reminder onto advisers. […]

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How negative sentiment trumped solid market fundamentals

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Russell Investments’ Chief Investment officer – Client Investment Strategies Erik Ristuben provides Russell’s views on how negative sentiment trumped solid fundamentals in the market earlier this week. Could the market be its own worst enemy? No doubt about it, negative sentiment trumped solid fundamentals in the market on Monday. As the Russell 2000® Index lost […]

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New advice appointments for St George

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Sean Allen, head of advice, St.George Banking Group today announced three new appointments that reflect the group’s multi-brand strategy. The St.George Banking Group advice channel comprises: St.George Financial Planning, Bank SA Financial Planning and Bank of Melbourne Financial Planning. New appointments Head of Financial Planning – Bank of Melbourne Ian Knight comes to Bank of […]

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S&P releases Alternative Strategies – Equity Sector report

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Standard & Poor’s Fund Services has released its ratings on the Alternative Strategies Equity sector, which contains three peer groups—Beta Variable, Market Exposure, and Market Neutral. We rated 38 offerings this year, upgrading three, downgrading one, affirming our ratings on 29 funds, and assigning five new ratings. Four funds retained their five-star ratings at this […]

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Fidelity portfolio managers comment on market turbulence

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Comments from portfolio managers on what is happening in the markets. Paul Taylor, Head of Australian Equities and Portfolio Manager of the Fidelity Australian Equities Fund “Markets are nervous, sceptical, cautious and scared and for very good reasons. We have a European sovereign debt crisis, a huge US debt issue, worrying US economic growth, slowing […]

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SPAA calls for fraud and theft cover for investors

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At its Technical Conference in Sydney this week, the Self Managed Super Fund Professionals’ Association (SPAA) has encouraged debate on the issue of financial loss due to fraud or theft saying its impact is not limited to superannuation but all Australian investors. The association also believes broader reforms are required around insurance and compensation measures […]

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