Super Funds Continue To Record Impressive Gains

Australian superannuation (super) funds have continue to record impressive gains over the last quarter, returning their levels to that of pre financial crisis according to new research.

On Wednesday, research firm SuperRatings released research showing that the average balanced Super Fund recorded a 9.27 per cent gain in the quarter ending September, producing a total gain of just over 17 per cent since March.

“Never have we seen super funds jump so quickly, with the median one year rolling return on balanced options set to return to positive territory in October despite hovering around minus 20 per cent just seven months ago,” SuperRatings said.

Chant West, another research firm, released data saying that super funds achieved 9.9 per cent growth for the quarter ending September.

Balanced funds allocate about 60 to 76 per cent of their holdings to growth assets, whilst growth funds allocate between 60 to 80 per cent.

Both firms apportioned credit the gains to the recovery of both the equity and property markets.

The Australian equity market recorded a gain of 21.6 per cent for the quarter ending September, whilst listed real estate investment trusts (REIT’s) gained 30.8 per cent, Chant West said.

Average balanced funds were now at the same level they were at three years ago, according to SuperRatings.

The strong Australian dollar however has had a negative impact on Super Funds, Chant West principal Warren Chant said.

“While sharemarkets around the world have been rising strongly, most super fund members haven’t picked up the full benefit because earnings measured in overseas currencies – especially the US dollar – are worth less when converted into Australian dollars,” Mr. Chant said.

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Florida State Attorney General Files Suit Against Debt Settlement Firms

Florida State Attorney General Bill McCollum recently filed two lawsuits against Texas-based Credit Solutions of America, Inc. (CSA) and Clearwater-based ADA of Tampa Bay, Inc., which does business as American Debt Arbitration. The lawsuit against ADA also names the company’s principal Glenn P. Stewart, as well as Arizona-based entities Nationwide Asset Services, Inc., Service Star, LLC, and Universal Debt Reduction, LLC.

The methods employed by most debt settlement firms are similar. According to the complaint filed against CSA and the complaint filed against ADA both companies were:

  • Telling their clients to stop making payments on their credit cards
  • Opening “trust” accounts for their customers which would supposedly serve as repositories for funds used to make settlements for 50% of the current balance.
  • Payments which would ordinarily have gone to pay credit card bills are paid to the debt settlement firms instead. The debt settlement firms would then deposit payments into these “trust” accounts.
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Five Points You Should Understand About zero APR (Annual Percentage Rate) Credit Card Deals

Wheter you’ve received one of these gives throughout the mail, you understand how tempting they could be. They claim that you’ll pay no interest on any purchases or balance transfers through the 1st period of owning your card. But there are a few things about these provides you want to know before you sign on the dotted line and permit them pull your credit report

1.    The zero APR give is for a limited time.

Most credit card companies that offer the zero percent interest rate offers just provide it for a limited occasion. This means that you’ll pay zero APR for six months, 9 months, or up to a year. You need to examination the fine print for this statistics and be careful to notice it wheter the occasion is up.

2.    The zero APR give might not apply to all things you put on the card.

Plenty of credit cards offer 0 APR on all balance transfers and any purchases made during the introductory 0 % interest period. But several

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Rising U.S. Vacancies: Real Estate Is Headed Down

Two pieces of data on U.S. vacancy rates (one commercial, one residential) show in unequivocal terms that house prices are going to continue lower, while the more-recent collapse in commercial real estate will continue to accelerate.

The U.S. vacancy rates for rental apartments has just hit its highest rate in 23 years – and is set to continue moving higher with new construction vastly outpacing sales. This guarantees that rent prices will drop (especially in an environment of rising unemployment and falling wages). It is equally certain that falling rent prices will translate into falling prices for U.S. residential real estate.

Falling rent prices make buying a home relatively more expensive (not to mention the risk of defaulting on a mortgage should the buyer lose his employment). This will continue to put downward pressure on U.S. house prices – adding to the downward pressure caused by rising unemployment, record-rates of foreclosures, more than 20 million empty homes (including millions of foreclosed properties being held off the market), and the need for retiring baby-boomers to sell real estate to fund their retirements (see “U.S. pensi

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Daily Blogwatch: Why is RIMM still a buy? Why a V-shaped recovery is unstoppable

Twelve public companies in the healthcare sector that could be acquired.

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Great detailed analysis by Bill Ackman of a potential short in the real estate space.

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How easy would it have been to register insure.com back in 1994? You would’ve made $16 million last week.

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Beautiful. Don’t play poker with this guy.

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I’m a big follower of the ECRI forecasts and they say A V-shaped recovery is unstoppable. These guys were dead-on in 2003.

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Research in Motion (RIMM) is still a buy.

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I wouldn’t mind owning this island.

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Here’s a solid company that has been increasing its dividend for 38 consecutive years.

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Can you still play silver if you’ve missed the gold rally?

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Some October crashes: a history lesson.

Swine flu: what you should know about the vaccine and protection

Swine flu is being billed as a potential killer this winter, but health officials still tell us the best public defense is washing our hands. Everyone should get H1N1 flu shots, the feds say, yet media reports warn there may not be enough vaccine. Some suggest the seasonal flu shot actually increases the chances of getting swine flu, while others say it reduces the chances. Confused? Scared? If so, you’re not alone.

With this in mind, DailyFinance looked into some of the concerns and realities surrounding the virus and how best we can protect ourselves. Here’s what we found out:

Concern: H1N1 vaccine won’t be available for a long time.

Reality: It’s already here. The first doses of swine flu vaccine arrived Monday.


Concern: There won’t be enough H1N1 vaccine for everyone in time for flu season.

Reality: Of the 250 million doses of vaccine in both spray and injectable forms ordered, 600,000 doses of nasal FluMist were being shipped this past week. Read all post…