Calls for sec lending regulation
The downfall of Opes Prime, a Melbourne broker that engaged in securities lending and financing, has spurred calls for greater regulation to promote transparency into short selling and securities lending.
But participants in such programmes are countering criticism that the practices destroy shareholder value. "We've done an analysis to see what's really happening. Across our equity portfolio since January...
More on Australia
Bill introduced to increase contribution rate to 12%
AUSTRALIA - The wheels were finally set in motion to raise the contribution limit in Australia to 12% from 9% with the introduction of a new bill today.
Australian Future Fund returns -2.9% in third quarter
AUSTRALIA - The A$73.2bn ($78.2bn) Future Fund lost 2.9% in the third quarter, though moves to decrease equity exposures helped stave off more drastic losses.
Australian super falls for the fifth month
AUSTRALIA - The median balanced superannuation fund has fallen for the fifth consecutive month returning -1.8%, -4.9% for the September quarter and -3.8% for the past year, SuperRatings finds.
StatewideSuper and Local Super takes a step forward
AUSTRALIA - The merger between the A$2.4bn (US$2.5bn) StatewideSuper and the A$1.7bn Local Super will move to the next stage, beginning the due diligence process following approval in principle from the funds' major shareholders.
