So who are  IOOFS MAJOR  shareholders ?

Blackrock Investment Management (Australia)

Bendigo and Adelaide Bank

First AXA Asia Pacific, next IOOF? According to the Herald Sun,institutional investors are cementing their position in IOOF, prompting talk the big banks, particularly ANZ Banking Group, might be looking to take over the financial services company.

Company Name:
IOOF Holdings Limited

Stock Code:
IFL

Website:

www.ioof.com.au

Market Cap ($M):
1,367

Equiv. Shares (M):
230

The paper reports that IOOF’s 81 biggest shareholders now account for about 70 per cent of its issued stock, compared with the 430 largest shareholders owning 46 per cent at the end of September 2008. Most recently, fund manager Blackrock Investment Management (Australia) became IOOF’s third largest shareholder, boosting its stake to 5.42 per cent five months after joining the company’s register.

IOOF Holdings Ltd

The paper suggests that IOOF’s retail funds management business could be of interest to the big banks, offering ANZ the opportunity to – if briefly, depending on how AXA APH negotiations go – become the nation’s biggest distributor of retail fund products. IOOF’s smaller price tag, compared with the $4 billion-plus for AXA APH’s local assets, might also tempt.

The second-largest shareholder in IOOF is Bendigo and Adelaide Bank, with which it has a strategic alliance. A potential obstacle for a major bank eyeing a deal with IOOF, is the target company’s decade-long strategic alliance with Bendigo Bank.

Bendigo is IOOF’s second biggest shareholder, with a 7.8 per cent holding.

The Victorian regional bank uses IOOF’s adviser network across the country and the alliance took on a more formal appearance several years ago when IOOF’s former chief executive Tony Robinson was appointed to the bank’s board.

IOOf Company Overview

IOOF Limited (IFL) is an Australian-based financial services operator. Its core funds management business is operated by IOOF Investment Management Limited. IFL acquired Perennial Investment Partners in 2006 and merged with Australian Wealth Management (AUW) in April 2009. IFL has rationalised and rebranded its financial planning businesses into Consultum Financial Advisers. IFL has a socially responsible investment research company, SIRIS.

Company History

IOOF was formed as a friendly society in 1846. It operated as a mutual organisation, providing sick pay and covering funeral costs for its members. More recently, IOOF’s focused on the marketing and management of its funds management business. In June 2003, the company demutualised and listed on the ASX. In April 2009 it merged with Australian Wealth Management to create one of Australia’s largest vertically integrated wealth managers encompassing: custody, brokers, advice and funds management.

Differentiating Factor

IOOF’s key differentiating factors are its brand name (formerly a friendly society), the depth of its products and the performance of its funds. IFL/AUW has a national financial planning network of around 580 aligned financial advisers, which enables it to cross-sell its various financial products and also provides a more “tied” source of revenue. IOOF’s socially responsible research is also a point of differentiation. The Perennial asset management business is a clear differentiating factor.

Major Customers & Competitors

Small share funds, institutions and retail investors are the major customers of funds management companies. Listed competitors include the fund manager subsidiaries of the five major banks, listed investment companies such as AMP, AXA, Perpetual and Challenger Financial Services, as well as an increasing number of smaller boutique fund managers. Unlisted competitors are primarily managed fund products distributed through financial planners.

ASX Announcements IOOF RELATED NEWS

IOOF company announcements are made on the Australian Securities Exchange website from time to time.

FUMAS for the quarter ended 30 Sept 2009

Notice of Annual General Meeting 2009

IOOF’s Merger Activity is Reaping Early Results

IOOF declares special dividend

Court approves AWM merger with IOOF

IOOF to acquire 100% of Skandia Australia and Intech businesses

IOOF Holdings and Australian Wealth Management will merge

Notice of AGM 2008

Full Year Results – Analysts Presentation

Updated warning on unsolicited offers

2007/2008 Earnings Update

ASX announcements for IOOF Holdings Ltd (ASX website)

The media is awash with reports that the Chinese are playing ball  again  with signing up new contracts worth billions of dollars.  The question is are they really ? The Chinese businessmen and bearuecats are very smart and this was evident by making a move in detaining a rio tinto official  for spying  right when negotiations were on for iron or pricing between top Australian and Chinese bearuecats and officials

This is also evident on how they got twiggy ( fortescue Metals group ) to give them a  much sweeter deal when spot prices for iron ore are increasingly going up.

Chinese officials hailed the deal as a welcome compromise that might help break the deadlock in annual talks with Rio Tinto , BHP Billiton and Brazil’s Vale , hoping to prevent a complete breakdown in a four-decade-old negotiated pricing ritual that is rapidly fracturing, and became further complicated this year by a corporate spying scandal.

The reason why china would rather do deals with australia is also while importing  iron ore from  australia  taking into  account he shipping  rates and  everything else it is much economical for them  to choose our companies  to trade with rather than brazil and Canada. so if they are getting a good price  for ore why wouldnt they ?

Infact they have managed to secure a very good deal when the Ironore spot market is on the rise.

HSBC’s latest research, which shows that the chart of the value of the Australian dollar is a mirror image of Chinese electricity production. which means the Chinese can invest in Australia and Australians in China without a currency risk.

The HSBC research comes at a time of deteriorating relations between Australia and China. The Fairfax press reports that Chinese state-owned media ignored the Gorgon deal and called for sanctions against Australian tourism, education and iron ore.

While china  states that  the rio tinto official was spying  for ages in china. chinese secrets are sometimes  available on the internet.The web is awash with the sites of state secrets bureaux, I discovered after a colleague dug up a report posted on one of them about the commercially and diplomatically sensitive detention of executives from mining giant Rio Tinto.

Links:

• China launches more probes into U.S. steel subsidies 20 Aug 2009 08:58
• China to trim US treasury holdings, diversify Forex reserves 20 Aug 2009 08:58
• Fortescue in negotiations with Chinese companies 20 Aug 2009 08:58
• Waigaoqiao revenue down 13.5% in H1 20 Aug 2009 08:58
• BRIEF-ReneSola signs deal for $700 mln project 20 Aug 2009 08:58
• CNOOC Group links with China Communications Construction 20 Aug 2009 08:58
• DEALTALK-Beijing puts giant media marriage on the rocks 20 Aug 2009 08:58
• ReneSola Signs Letter of Intent with Wuzhong Government to Develop 150 MW On- grid Solar Power Project 20 Aug 2009 08:58
• RIO TINTO: COMMITTED TO BUILDING TIES WITH CHINA 20 Aug 2009 08:58
• UPDATE 1-Bharti and MTN extend exclusive talks to Sept 30 20 Aug 2009 08:58

It was on www.baomi.org (which roughly translates as www.protectsecrets.org), the succinctly named Website of the apparently not-as secretive-as-its-name-suggests National Administration for the Protection of State Secrets.

Vast modern cities like Guangzhou, Shanghai and Tianjin are teeming business and political hubs that might well have important government and commercial information to worry about.

But Puyang city? I had to do a quick map check to pin down where it is (northern Henan province, if you were curious). There are secrets to protect everywhere, it seems, and you can read about the efforts in Puyang at www.pybm.cn

Highlights include “Products that can protect secrets”, “The hidden danger of blogs and measures to counteract them” and “Build a firm line of defence to protect military secrets”.

Italy and Russia the biggest importers of Indian coffee  have massively slowed down on thier coffee imports.Total trade growth of Australia with India for 2008 has risen to  $15.356 billion.Blistering rise in the value of the rupee gives sleepless nights to Indian exporters, forcing many to shut down

India’s exports fell in May for the eighth month in a row as overseas demand for goods continued to shrink in the global recession

SURJEET JOLLY, MANUFACTURER AND EXPORTER OF SPORTS GOODS AND OWNER OF ROBINSON SPORTS, SAYING:

"The (rupee’s) appreciation continuation will mean 60 percent of the sports industry will close. More than 150,000 workers employed by us, those will be on the roads. They will be unemployed and that is going to affect the economy very badly and it will lead to crimes and many more things which the country does not need."

Exports in May were valued at 534.3bn rupees ($11bn; £6.7bn), down 29.2% from 655bn rupees a year earlier, government figures showed.

Exports are a significant driver behind the Indian economy, making up about 15% of gross domestic product.

Imports shrank 39.2% to 786.8bn rupees from 1.1 trillion rupees a year ago.

The falling price of oil was a significant factor behind the decline in imports. Oil currently stands at about $70 a barrel – less than half of what it was last summer.

Oil imports in May were down 60.6% on the year. India imports about 75% of its oil.

India’s trade deficit – the difference between imports and exports – halved to 252.5bn rupees from 533.2bn rupees a year earlier.

S.P. OSWAL, MANAGING DIRECTOR OF ONE OF INDIA’S LEADING TEXTILE FIRMS, VARDHMAN GROUP, SAYING:

"The industry will remain weak and if it remains weak for another four-five years, it will have very little chance of survival against world competition. Because our competitor is China, today our biggest competitor is China and China’s size of the industry is 300 billion dollars against India’s present size of only about 45 billion dollars. And if we cannot grow in the next five years to about 100-120 billion dollars while China will grow from 300 billion to about 450 billion dollars — they will crush us."

Australian tax return tips

This year we can expect, on average, a tax return increase of more than $300 based on goverment grants and reductions.

"It’s gone up quite considerably, we reckon last year people got about two thousand dollars, so to be getting $2,300 as a return this year is obviously a big increase,"

See if you qualify for Education Tax Refund for families with kids in school.The type of expenses you can claim include computers, internet, even repairs to computers."

You can claim up to $375 for children in primary school and up to $750 for children in secondary school.

This benefit applies to most parents earning less than $120,000 a year. It’s those earning seven figure salaries that the tax office has set its sights on.

Australian Tax Office Are targeting executives, directors and wealthy Australians this year.

In the past the ATO have only looked at wealthy Australians that had a net worth over $30m. This year the ATO are now able to go down to people with a net wealth of only $5m.

Nearly 12 million of us will lodge a tax return, the tax office will then hand back nearly $20b. It sounds like a lot but with wages being frozen and unemployment set to rise, it might be a while before we have that much cash coming in again.

what look out for  while lodging your tax returns ?

improperly stating income from rental properties; also from dividends, shares, interest and work related costs which shouldn’t be claimed, like clothing.

 

Do check to see if you qualify for claiming on your union fees.

"The Australian Tax Office this week sent out 600,000 letters to mostly rental property owners because they got things wrong like borrowing costs, repairs and maintenance, interest on their mortgages and also in relation to capital works deductions as well," .

Those most likely to be audited by the taxman will be truck drivers, sales and marketing executives and electricians.

When it comes to doing your tax return yourself or hiring a professional remember that accountants’ fees are tax deductible. Also keep in mind that 98% of audited returns done by individuals need some kind of adjustment – almost always down.