AUSTRALIA - Investment managers and superannuation funds by and large support the Australian Securities and Investment Commission's (ASIC) decision to suspend short selling of all ASX-listed securities for 30 days, saying that extraordinary events require extraordinary measures.
While most professionals say it is too soon to definitively say what the medium and long term ramifications of the ban will be, in the short term, there is no need for alarm or sudden changes to programmes...
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.
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.
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.
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.