News

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Market commentary 20 February 2012

Monday, February 20th, 2012

US markets finished last week on a high, with Banking stocks driving gains as markets were optimistic on the Greek situation. Sectors which posted the biggest losses in 2011 have rallied the strongest in 2012, including Resources, Banking and Industrial stocks. The S&P500 index is now only 3 points below last year’s high.  European stocks also gained as markets speculated Euro Finance Ministers will grant Greece the next bailout payment. Over the weekend, we saw Greek politicians identify the further EU325M in budget cuts needed to receive the next bailout payment.  In China, the Central Bank has cut the reserve requirements for banks, in an attempt to spur further lending and economic growth, amid a slowdown in housing and the Euro crisis weighing on exports.

The Aussie market is set for a positive start, the SPI futures are up only 6 points, though positive news over the weekend from Greece surrounding the further spending cuts required and news from China surrounding banking reserve requirement cuts, will likely buoy the local market.   In company reporting today, Amcor releases full year results, and Bendigo Bank, BlueScope Steel, Seven Group and NIB Holdings all release first half results.  The Aussie dollar received a boost following the move from the Chinese, the Aussie lifting to $1.078 USD, while Crude Oil hit nine-month highs over $103 per barrel.

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At Call Rates @ 20 February 2012

Monday, February 13th, 2012

At Call Rates that are available from the UMA @ 20th February 2012 range between 4.70% to 6.01% based on the “Investor Type”, amount being invested and whether it is the first time the investor has made a deposit with the institution.  Read more  Click here


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Term Deposit Rates for week commencing 20 February 2012

Monday, February 13th, 2012

Term Deposit Rates available in the UMA this week are listing in the attached rate sheet Click here


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Protection article in Asset Magazine

Sunday, October 23rd, 2011

The e-Clipse protection solution was discussed in a recent article in Asset Magazine.

Read more … Click here


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Government deposit guarantee revised to $250,000

Tuesday, September 13th, 2011

On September 2011, the Treasurer, Wayne Swan released the much awaited details on the revised Government Guarantee on deposits (officially called the Financial Claims Scheme or FCS).

Read more …Click here


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Fortnum Launches UMA

Friday, September 9th, 2011

Fortnum released a press release on the establishment of its new UMA read more …UMA launch Press Release


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Asset Magazine> UMA Article

Monday, September 5th, 2011

e-Clipse throws light on super UMA plans.

Click to read Asset magazine re Fortnum UMA