Super start
Superannuation funds have started the new financial year positively, with the typical balanced option – where most people have their super – gaining 1.2 per cent during July. SuperRatings data shows the typical balanced option returned 10.6 per cent for the year to the end of July.
Full report
The most recent annual report of every ASX-listed company has been uploaded to a new website, www.onlineannualreports.com.au, run by digital publisher Realview. The reports can be accessed for free in one mouse click.
Educating advisers
AMP will lift the educational standards of its advisers. All existing and new advisers, within a set period, will have to hold either a Certified Financial Planner designation of the Financial Planning Association or be a Fellow Chartered Financial Practitioner, or hold a Masters in Financial Planning.
Wave pays
ME Bank is offering a 5 per cent discount on every MasterCard payWave purchase under $100 for six months to new customers signing up for its transaction account, which comes with the debit card. The money is paid into your account. Neither it nor the debit card has monthly fees. The offer closes on August 31.
Share of returns
Vanguard Australia data shows Australian shares have outperformed other major assets classes, including global shares, over the long term. A $10,000 investment in Australian shares would have grown to $278,615, or an annual average return of 11.7 per cent, over the 30 years.
