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Australians should consider putting their money in their superannuation instead of property as fund balances are now growing faster than house prices.
Analysis by Chant West showed median growth-orientated retirement balances surged by 12.2 per cent since July 1 - something unthinkable only a year ago.
The double-digit growth in just nine months, to the end of March 2021, was even stronger than the 7.7 per cent surge in Sydney s median house price during the past year.
Australia s share market was this week close to reaching a record high, with the benchmark S&P/ASX200 just 1.5 per cent below the all-time peak of 7,197 set in February 2020 shortly before the Covid shutdowns.
Date
15/04/2021
ASIC has today announced that it will extend one of three temporary relief measures designed to help the financial advice industry provide consumers with affordable and timely advice during the COVID-19 pandemic.
The original relief measures were announced on 14 April 2020 and are set out in ASIC Corporations (COVID-19 Advice-related Relief) Instrument 2020/355 (refer: 20-085MR). Instrument 2020/355 expires today.
ASIC will extend the relief measure that allows financial advisers to provide a record of advice rather than a statement of advice to existing clients requiring financial advice due to the impact of the pandemic.
ASIC decided to extend the relief measure after consulting with industry and identifying that some financial advice practices have found this measure helpful.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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Shares of Apollo Hospitals Enterprises jumped 4 per cent in intra-day trade on Monday to hit a new high of Rs 2,688, in an otherwise subdued market, after the company said it has raised Rs 1,170 crore via qualified institutional placement (QIP) issue. The stock surpassed its previous high of Rs 2,683 touched on January 21. In the past three months, the stock has outperformed the market by surging 30 per cent as compared to a 20 per cent rise in the S&P BSE Sensex. At 01:32 pm, the benchmark index was up 0.07 per cent at 48,911.
Apollo Hospitals Enterprises, engaged in healthcare facilities business, has allotted 4.66 million equity shares to 102 qualified institutional buyers (QIBs) at a price of Rs 2,511 per share, according to a disclosure made by the company to stock exchanges. It had the fixed floor price at Rs 2,508.58 per share.