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Share funds in the red

Discussion in 'General Investing Discussion' started by Tropo, 17th Jun, 2008.

  1. Tropo

    Tropo Well-Known Member

    17th Aug, 2005
    Share funds in the red

    Just one of 92 share funds in the market looks likely to record a gain from the financial year to June 30. Despite a strong recovery in May the median share fund is down 5.8 per cent for the year to date according to Mercer. Global equity funds rose 0.7 per cent in May but the benchmark index is down 5 per cent this month on rising oil price fears and analysts say the prospect of a recovery this financial year by the share funds is remote.
    Source: The Australian Financial Review

    Stamp duty on hit list for home affordability

    Stamp duty exemptions should be given to all first home buyers and downsizing retirees according to a parliamentary inquiry into housing affordability. The senate committee concluded housing affordability is now at all times lows and called on states to include low cost social housing in all new estates. The inquiry is also calling on the government to review negative gearing, the capital gains tax discount and other tax breaks targeting housing that cost taxpayers $50 billion per year. The senate committee criticised state based stamp duty on the sale of houses but did not call for their abolition.
    Source: The Australian Financial Review

    First home buyers scheme not working

    A senate committee has found that the first home buyers grant "benefited existing home owners rather than those seeking to enter the market". The committee decided that the grant of $7,000 to first home buyers was working against its' aim of making new homes more affordable and has not encouraged the construction of enough new homes to keep pace with population growth. Under a suggested overhaul of the system buyers of new homes would get more and buyers of existing homes will get less. Economic forecasters are predicting strong house price growth over the next three years.
    Source: The Age

    The end of listed buyout funds

    The listed buyout fund concept appears to be dead with Macquarie Group and a syndicate of investors seeking to purchase back the shares of listed private equity vehicle Macquarie Capital. The offer at $3.40 per share values the fund at more than $800 million but is less than the 2005 listing price of $4.Other similar concepts from Allco Equity Partners and Babcock Capital have also failed to live up to expectations. Observers say other Macquarie funds could also be in line for privatisation.
    Source: The Australian