Mark Beyer

THE average investor in managed funds has earned less than one third of the overall stockmarket return, a new US study has found.

THE growing popularity of master funds and wrap accounts has been one of the main themes of the managed funds industry over recent years.Westpac CEO David Morgan acknowledged as much when he announced the purchase of BT Financial Group last month.

WESTPAC’S purchase of BT Financial Group last month has reinforced the dominance of a handful of big players in retail funds management.

CENTRAL bankers are renowned for making obscure comments that market watchers struggle to un-ravel.Australia’s Reserve Bank may be trying to break the mould judging by the relative clarity of its recent pronouncements.

THE positive returns achieved by most listed investment companies last financial year (see main article) has not been matched by managed equity funds.

AUSTRALIA’S listed in-vestment companies mostly defied the sharp downturn in equity markets to post positive returns last year.

ADMINISTRATION platforms may not sound like an exciting concept, but they are generating hot competition in the financial planning industry.

SEPARATELY managed accounts are a relatively new product in Australia, but investors can expect to hear a lot more about them in the future.

THE latest prospectus from investment manager Direct-Portfolio neatly illustrates some of the emerging trends in investment styles.

THE Federal Government has started cranking up its campaign to give workers the right to select their own superannuation fund.

ASSISTANT Treasurer Helen Coonan has dismissed concerns that Australia’s superannuation system will leave many people with inadequate retirement incomes.

EVERY time interest rates move up or down, most of the media commentary invariably focuses on the impact on homebuyers.

WHEN the Reserve Bank decided earlier this month to leave interest rates unchanged, it caught most pundits by surprise.

THE impact of commissions continues to be one of the most contentious issues in the financial planning industry.

PUBLIC surveys consistently show that accountants and family or friends are the most common sources of financial and investment advice.

AUSTRALIAN superannuation funds produced their worst returns on record in 2001-02 and have a “higher than normal” probability of posting negative returns again this year, according to consulting group InTech.

THE unexpected strength of the Australian dollar has been bad news for investors in international shares and the prospect is for more of the same.

PLATINUM Asset Management is a conspicuous success story among managers of international equity funds.In fact, it is the only main-stream investment manager to have achieved positive returns from international equities over the past 12 months.

THE Australian IT sector produced another dismal performance over the past 12 months, according to Commonwealth Securities.

ETHICAL investors who have steered clear of wine and beer companies would be crying into their carrot juice, judging by the results of a new study.

TRUSTEES of superannuation funds need to tread very carefully if they offer an ethical or socially responsible investment option, the University of Melbourne’s Centre for Corporate Law and Securities Regulation has warned.

AUSTRALIANS aged from 50 to 64 years have accumulated an average wealth of $240,000, the majority of which is in the family home, a new report has found.

MARGIN lending is not the high-risk activity of popular mythology, judging by the latest Reserve Bank analysis of the market.Total margin lending grew by 32 per cent over the 12 months to March 2002, to reach $9.7 billion.

A POPULAR marketing tool for fund managers these days is to publicise the awards they have won.This suits many fund managers because there are numerous awards waiting to be picked up.

THE two big winners in the latest fund manager awards, UBS Global Asset Management (UBS) and Perpetual Investments, come from very different backgrounds.

WITH June 30 approaching, many investors start to focus on ways of managing their looming tax bill.This short-term imperative is often seen to be at odds with the longer-term goals of building wealth or generating higher investment income.

RETURNS from Australian-based hedge funds varied from as high as 31.6 per cent to minus 8.3 per cent last year, a new study has found.The performance of hedge funds covered by the survey shows the very wide variation in returns.

WHEN major companies like Telstra and Mayne experience a sharp fall in their share price, investors trying to build a ‘blue chip’ share portfolio can be excused for feeling exasperated.

INVESTORS should expect substantially lower returns from all major markets over the coming decade, fund manager Perpetual has warned.

A STUDY of long-term investment returns produced by fund managers has found substantial variation.

THE Reserve Bank was expected to lift official interest rates after its board meeting this week.Whether it moved this week, or next month, it is inevitable that rates will increase over the rest of the year.

RUNNING a DIY superannuation fund can be costly, time consuming and entails significant legal responsibilities.What, then, are the benefits that attract so many investors to DIY super?