WEEKLY WRAP: Who's new?

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Leveraged Equities has appointed David Arnold as the new head of business performance, starting tomorrow. Arnold has run his own consultancy specialising in leadership, strategy and organisational development since 2009, and was former head of marketing at IOOF, and former head of strategy and innovation at ANZ Private Bank.

Chris Collins has joined Tyndall AM as investment risk manager. He has more than eight years’ experience in risk management roles, most recently with JP Morgan as a market risk analyst.

Life insurer TAL has won the 2013 CoreData Life Insurance Company of the Year Award. This is the second successive year TAL has won this award following research by CoreData, which surveyed financial planners and advisers from around the country. The award goes to the company which scores the highest satisfaction across 11 assessment categories.

APRA has released reporting standard SRS 711.0 SuperStream Benchmarking. Under this, APRA, on behalf of Treasury and the Australian Taxation Office, will collect a limited range of data on a quarterly basis for five years to assist in evaluating the effectiveness of the SuperStream reforms to the back office operations of superannuation funds.

Industry Super Australia wants the upcoming financial services inquiry to focus on improving the efficiency of the industry and maximizing the potential of the super system in transforming the economy. ISA research released last week found in 1990, for every $1 of resources allocated to the finance sector, there was $3.50 of capital formation, but by 2012 that figure had dropped to $1.50 of capital formation for every $1 of resources used.
AMP has added the Australian Unity Healthcare Property Trust to North, its flagship platform. The Trust has a diversified tenant base and a quality direct portfolio of 25 healthcare properties across Australia, which together with its other assets, are currently valued at $520m.

The Aon Master Trust’s Balanced Growth-Active investment option has been ranked first by two independent research firms based on its one-year return. The option achieved a 19% net return, placing it at the top of the charts for both the Chant West survey and the SuperRatings SR50 rankings.

Legg Mason Australia is targeting the SMSF market and has reduced the minimum initial investment amount from $200,000 to $30,000 for the Australian Real Income, Australian Equity Income, Australian Small Companies, Australian Bond and Diversified funds.

Electronic identity verification service Veda has secured authorised access to the Document Verification Service, and Australian Government service verifying key government-issued documents. This is useful for the banking and superannuation sector because of online identity verification services, says Veda.

AMP Flexible Super has notched up over $10 billion in assets under management since its launch in 2010. The fund has seen strong growth with customer numbers up from 172,000 customers at FY 12 to 216,000 at the end of October, increasing by more than 26%.

The Australian exchange traded fund market has continued its 18th consecutive month of growth in November, reaching a new record high of $9.6 billion in funds under management, according to BetaShares’ November ETF Review. ETF industry assets grew 3.2% – $297 million – in November with the bulk of the growth – $210 million – new money rather than market performance.