AMP lost in a storm?
AMP is doing deals to lure new financial planning practices and shore-up distribution, but this could lead to more trouble ahead for the wealth management giant, whose share price has been steadily falling. AMP has mounting liabilities, with old and new buyer-of-last-resort agreements in place to acquire financial planning firms from retiring principals in the
September 26, 2013
ICAA gets its gear on
The Institute of Chartered Accountants Australia has waded into the debate about gearing in self-managed superannuation funds, commending the government’s plans to review the sector in light of its $80-billion splurge on property in the last six years. Head of superannuation at ICAA, Liz Westover, acknowledged that borrowing to invest could be a useful way
September 26, 2013
North American confidence dives in September
Global investor sentiment plunged in September, pushed lower by a crisis of confidence in North America. The State Street Investor Confidence Index fell 3.5 points to 101.4 in September, from August’s reading of 104.9, as sentiment in the United States and Canada took a nosedive amid concerns of the Federal Reserve tapering stimulus and a
September 26, 2013
Rethink portfolios with risk management
Innova Asset Management, the funds management arm of Fortnum Financial Advisers, is rebuilding its range of model portfolios using a new approach to portfolio construction that pays little attention to investment returns. According to Innova managing director Dan Miles, risk management, not return optimisation, should be at the heart of the investment process. “There are
September 24, 2013
Small APRA funds are flexible
Small Australian-Prudential-Regualtion-Authority funds (SAFs) are a “flexible”, and in some instances superior, alternative to self-managed superannuation funds. However, the majority of accountants, and many financial advisers, aren’t aware that they exist, according to Julie Steed, technical services manager at IOOF-owned Australian Executor Trustees. A small APRA fund has a similar structure to an SMSF, however
September 24, 2013
Strong and skinny: the equity market cycle
Leaving aside the Bernanke Bounce on September 18, emerging markets have fallen so far out of favour that it’s now de rigeur to label Goldman Sachs’ championing of the Brazil, Russia, India and China as nothing more than glib marketing. The conventional wisdom these days is that these four very different developing countries were only
September 23, 2013
Retirees pass batons to newbies at Hillross, AMP
AMP is countering the loss of retiring advisers by attracting new advisers and practices to its premium dealer group Hillross. Hillross has signed up 11 newcomers, helping them set up their own businesses, while a further seven established practices, representing over $1 billion in funds under advice, have also joined in the last 12 months.
September 20, 2013
Emerging consumer strategy bags $10 million
A Canadian institution will next month seed AllianceBernstein’s new Emerging Consumer strategy with $10 million. The strategy, which has returned 41 per cent on paper in the two years since its inception, relies on “grassroots research” in addition to traditional top-down and bottom-up analysis to actively invest in stocks that will benefit from consumption trends
September 20, 2013
