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Investment

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Banks May Soon Be Able To Buy Gold As Tier 1 Capital

The Basel Committee for Bank Supervision, the maker of global capital requirements and whose Basel III rules form the basis for global bank regulation, is studying making gold a bank capital Tier 1 asset. The purchase of gold may drive up its demand worldwide. In addition, gold should increase the value of the banks total capital.

Goldbullionadvisors.com is a consulting firm which helps the banking industry secure gold bullion from its worldwide suppliers. Most banks will purchase physical gold and retain possession of the bullion in their vaults to enhance its capital.

Under the proposal gold would carry a zero percent risk weighting under tier 1 capital. Gold is coming back into the banking system. We are in a world where currency wars are being fought daily, and as the system continues to collapse under its own weight of paper printing, gold will be the go to asset and possibly the last man standing.

For more information about our firm, please visit www.goldbullionadvisors.com

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Prudential Reports Average Brit To Make A Million By The Age Of 56

New research* from Prudential has revealed that the average UK worker will have earned £1 million by the time they are 56 years, nine months and three weeks old.

However, despite these cumulative earnings, fewer than two in five (37 per cent) of those expecting to retire this year have saved enough to secure a comfortable retirement.

Prudential’s analysis of average incomes shows that becoming a millionaire before tax is well within most men’s grasp, as long as they start work at 18 and then earn the average income for their age bracket through to age 65.

A man on an average income can expect to be an income millionaire when he is 50 years, six months and two weeks old. However, women will find it harder than men to make the magic million, reaching the milestone at 72 years, four months and three weeks – 22 years after their male counterparts.

Of course, this £1 million will be earned before tax which means that the average worker will have also paid £137,101 in income tax and £84,129 in national insurance.

The good news is that if someone contributes to a personal pension throughout their working life, they can benefit from significant tax relief. An individual who pays £100 per month personally into a pension over a 40 year working lifetime could receive additional tax relief of at least £12,000.

Vince Smith-Hughes, retirement expert at Prudential, said: “We might think that making a million is a pipedream, but it will become a reality for those who earn an average salary throughout their working lives, especially if they are men.

“Looking at cumulative earnings in this light helps us to understand how much we could potentially save for our retirement. Of course, ongoing financial pressures and priorities means that it is not always that easy, but it remains the case that the earlier you save and the more you save, the better retirement income you will have.

“Pensions remain highly efficient tax saving vehicles which can help savers to claw-back some of the tax that they have paid over the years.”

The analysis shows that if the average person works until the age of 65, their career earnings before tax will be £1,217,604. If they keep going to 70, then earnings will hit £1,322,009.

Prudential’s figures show that average earnings for UK workers peak at £31,328, in their forties. Average earnings for men hit a high of £40,652, while for women the peak is £21,758.

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Standard Life Launches Auto-Enrolment Toolkit

Standard Life has launched a toolkit aimed at helping employers and advisers plan for the introduction of auto-enrolment and identify the potential cost impact.

Ann Flynn, Head of Corporate Marketing, Standard Life said: “From our research and discussions with employers it is clear that many are scratching their heads as to how to tackle the implementation of auto-enrolment. They’re not entirely sure of the steps they need to take to meet their responsibilities, how much work is involved and importantly, how it will impact their bottom line.

“We have therefore developed a dedicated corporate benefits website which hosts a range of tools, news and videos to support employers and advisers through auto-enrolment and beyond.”

The toolkit includes; Pension Reform Pathfinder tool: An in depth planning tool which will help employers and advisers build up a personalised plan of duties and help establish a scheme to fit their requirements, and comply with auto-enrolment regulation.

Pension Reform Cost calculator: The pension reform cost calculator will help employers and advisers understand the potential cost of auto-enrolment by:
– Checking if a current scheme meets the requirements to satisfy the legislation
– Identifying the estimated ongoing costs of meeting legislation requirements
– Showing how the costs can be implemented gradually over time
– Demonstrating how costs could be reduced by providing the option for employees to pay through salary exchange.

Employer checklist: Gives employers an overview of the key tasks they must carry out in order to fulfil their new duties.

Data exchange guides: The guides will help employers navigate their way through their new duties and understand the impact on their current processes and systems.

Member communications timeline: The timeline gives a clear view of the mandatory member communications that pension reform legislation requires. It shows:
– The timeline – what communications need to be issued and when
– The regulations – which communications are mandatory and which are ‘recommended’
– The ownership – which communications must be sent by the employer
– The member categories – what type of information needs to be communicated to each category of employees.

Pension Reform information for employees: A dedicated pension reform website page, aimed at educating employees, has also been created on www.standardlife.co.uk to inform employees about the changes. The site covers everything they need to know, from why pension reform is happening to what to do if they don’t want to join their company pension scheme. There is also a short video which summarises pension reform and auto-enrolment.

Flynn added: “The cost and infrastructure impact will be a major concern for most businesses so these tools will help form the basis of discussions between advisers, HR teams and Finance Directors.

“With so many employers’ staging dates falling in 2013 and 2014, it is crucial that providers support employers and their advisers to help make the transition as painless as possible. Our message to all employers is the sooner you start your planning the better.”

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Prudential Reveals Women Set To Retire On £5750 Less Than Men

New research from Prudential has revealed that women retiring in 2012 expect their annual retirement income to be a third lower than that of their male counterparts, adding up to a gender gap of £5,750.

Prudential’s Class of 2012 study into the finances and expectations of those planning to retire this year finds that the average woman expects an annual income of £12,250 from their retirement pension, compared with an average expected income of £18,000 for men.

The study shows that the gender gap has fallen from last year’s £6,500, and has narrowed steadily since Prudential first measured a gap of £6,642 in 2009. The fall this year can be mainly attributed to a reduction in men’s expected incomes. However, the gap remains significant.

Prudential’s study found that the average amount that men and women expect to retire on in 2012 fell to a five-year low of £15,500 including private, company and State pension, compared with £16,600 in 2011.

Stan Russell, Prudential’s retirement income expert, said: “The Pension Gender Gap appears to be narrowing, but there is still a long way to go. Not only does the gap remain stubbornly wide, but anticipated retirement incomes have this year hit a five year low for both men and women.

“The practical steps that women can take to improve their retirement income prospects include maintaining pension contributions during career breaks and, if possible, making voluntary National Insurance contributions after returning to work.

“It is imperative for anyone looking to secure a sufficient income when they retire to begin saving as much as they can, as early as they can, and to do so regularly through life. For those who are still working, it has never been a more important time to save into a pension.”

The Prudential study also found that nearly half (49 per cent) of women believe they will not have enough income for a comfortable retirement, compared with 40 per cent of men.

The retirement gender gap is widest in the South East, where women retiring this year expect to have £7,878 less income a year on average than men – £12,259 compared with £20,137.

The gender gap is narrowest in the North West, with women in the region retiring on an average of £13,087 a year, compared with £15,632 for men – a difference of £2,545.

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STANLEY-CLIFFORD Dynamic Allocation Fund Risk Considerations

After the release of the Dynamic Allocation Fund Risk Considerations the board of STANLEY-CLIFFORD is releasing the following considerations.

STANLEY-CLIFFORD Funds, the mutual fund family of STANLEY-CLIFFORD, offers individual and institutional investors a wide range of long-term investment choices among over 80 financial instruments, fixed income, money market and hybrid funds. The family’s global line of offerings provides both core and satellite investments across different asset classes, investment styles, investment approaches and geographical regions.

The STANLEY-CLIFORD Fund invests primarily in exchange-traded funds (“ETFs”), futures, swaps and other derivatives that provide exposure to a broad spectrum of asset classes, including but not limited to equity options (both in Asian and non Asian companies), fixed income, investment grade and high yield commodities.

Derivative instruments may involve a high degree of financial risk. These risks include the risk that a small movement in the price of the underlying derivative or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument; risk of default by a counterparty; and liquidity risk. The STANLEY-CLIFFORD Fund’s equity investments are subject to market risk, which means that the value of its investments may go up or down in response to the prospects of individual companies, particular industry sectors and/or general economic conditions.

The STANLEY-CLIFFORD`S Fund’s fixed income investments are subject to the risks associated with derivatives generally, including credit, liquidity and interest rate risk. High yield, lower rated derivatives involve greater price volatility and present greater risks than higher rated fixed income futures. The STANLEY-CLIFFORD Fund is subject to the risk that exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional investment vehicles.

The STANLEY-CLIFFORD Fund may also invest in foreign market derivatives, including emerging markets futures, which may be more volatile and less liquid than investments in traditional Asian markets and are subject to the risks of currency fluctuations and sudden economic or political developments. The Fund is non-diversified and may invest more of its assets in fewer issuers than diversified funds. Accordingly, the STANLEY-CLIFFORD Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio and to greater losses resulting from these developments.

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The Royal Mint Commemorates 60 Years of The Queen’s Reign

The Royal Mint has revealed two Proof quality UK five-ounce coins to celebrate the momentous occasion of The Queen’s Diamond Jubilee.

Following on from the success of the Alderney issue five-ounce coins created for the Royal Wedding last year, The Queen’s Diamond Jubilee five-ounce will be issued on a UK coin and looks set to sell out as it appeals to collectors who want a unique piece of Diamond Jubilee memorabilia to treasure forever.

The gold five-ounce coin, priced at £9,500, contains five ounces of fine gold and only 250 will be struck. In addition to the gold five-ounce coin, a silver five-ounce coin has also been created, priced at £450, and only 1,952 will be minted in honour of the year The Queen took to the throne.

Created by Ian Rank-Broadley FRBS, the reverse design of the five-ounce coin depicts a majestic image of Her Majesty The Queen enthroned. Inspired largely by the Great Seals of both Queen Victoria and Queen Elizabeth II, the enthroned effigy of The Queen is a very important image, conveying a deeply meaningful sense of stability.

The Queen wears the Royal Diadem and is draped in luxurious robes, the extravagant folds and ornate sculptural detail suggests enormous grace and dignity. The Diamond Jubilee anniversary dates of 1952 – 2012 are shown in Roman numerals and are accompanied by the Latin inscription DILECTA REGNO – ‘I reign beloved’.

The obverse of the five-ounce coins feature the Diamond Jubilee portrait of Her Majesty the Queen also by Ian Rank-Broadley FRBS, created especially for and exclusive to all 2012 Diamond Jubilee UK coins struck by The Royal Mint.

Commenting on his design, Ian Rank-Broadley said: “I did look at the Great Seals of various monarchs and wanted to give a new dimension to that image, to produce something that will have a special significance for the nation and possibly worldwide.”

The Queen’s Diamond Jubilee UK Five-Ounce Gold Coin is housed in a high-gloss wood-veneer presentation case. The Diamond Jubilee UK Five-Ounce Silver Coin is presented in a faux leather case and both come with an illustrated booklet and a numbered Certificate of Authenticity. Both are available now from The Royal Mint’s website www.royalmint.com.

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Standard Life Reveals Most Parents Feel Financially Supporting Their Grown Up Children Is ‘Their Duty’

According to Standard Life research, over half of parents feel it is “their duty as a parent” to financially support their grown up children.

A third of parents worry that without financial help their children would suffer and not achieve their full potential. 37% of parents recognise the impact that the current economy is having on their children’s financial status while a third of parents expect to have to financially support not just their children but also any grandchildren.

Parents are expected to help pay for a variety of amenities; 38% expect to help foot the wedding bill, the most significant cost, with university fees second. More than one in three parents pay university fees or expect to do so, whilst a third of parents are paying towards university accommodation. 34% pay towards their child’s car or expect to do so and a quarter will be likely to pay towards a deposit for a first home. Even a quarter are expected to help with mortgage and credit card debts.

Julie Russell, Head of Customer Relationships at Standard Life, commented: “The economic downturn and price increases have left many parents expecting to have to financially support their children into adulthood. The only way to achieve this is through careful financial planning, so that the financial sacrifices parents make for their grown up children are not to the significant detriment of their own long term plans. Parents need to make sure their money works as hard for them as they are working for their children. That means being efficient with their savings and making the most of tax breaks offered by products like ISAs and pensions.”

Pensions are a tax efficient way for parents to save, with every £4 a person contributes, the government effectively contributes £1 as it rebates the income tax on contributions*. For those who are in a workplace scheme, their employer is likely to be topping up the contributions too.

ISAs help to build up a tax free cash lump sum which can be used to pay for a child’s wedding or to fund university fees. Parents can invest up to half of the annual ISA allowance and earmark that to help themselves and their children with more immediate costs. They can also consider investing the remainder of their allowance in a stocks and shares ISA which has the potential of greater tax efficient growth over the longer term to help with larger future costs.

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Prudential Reveals Pensioners Fail To Count The Cost Of Ill-Health In Retirement

Prudential has revealed new research which shows that despite the ongoing debate about the need to fund long-term care for the elderly, only one in five people planning to retire this year have made financial provision for ill-health in retirement.

Prudential’s ‘Class of 2012’ study into the finances and expectations of those planning to retire this year shows that just 20 per cent have set money aside for any care needs. This drops to 16 per cent among those aged 65 plus.

Prudential’s research also found that less than half (45 per cent) of this year’s retirees have planned for the fact that they may need more income in retirement as they get older.

However, funding long-term care has never been more important. Although average life expectancy for men over the age of 65 is 17.6 years, and 20.2 years for women, healthy life expectancy is just 9.9 years for men and 11.5 years for women.

Vince Smith-Hughes, retirement expert at Prudential, said: “People retiring this year realise that living longer may mean they will need a higher income as they get older, but few of them have made the connection between the risk of ill-health, and needing money to pay for healthcare.

“Although life expectancy is increasing, healthy life expectancy is flat-lining. With the average person now working until they are aged 63.4, people are enjoying fewer healthy years in retirement.

“Spending the first few years of retirement trekking in the Andes and running around after grandchildren may be a reality for some, but it is important not to forget that health will worsen as pensioners get older.

“Making financial provision for the possibility of ill-health in retirement should be an integral part of the retirement planning process.”

Across the country, those planning to retire this year in Wales are the most likely to have prepared for the risk of ill-health in retirement (32 per cent), while those in the East of England (7 per cent) are the least prepared.

The Government is currently considering recommendations from the Dilnot Commission on the Funding of Care and Support which, in July 2011, proposed that an individual’s contribution to social care should be capped at £35,000, with any additional costs funded by the State.

Via EPR Network
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Vebnet Reports J.P. Morgan In Its Element With Take Up Of Re-Branded Employees Benefits Scheme

J.P. Morgan, advised by Vebnet, has just announced impressive results from the recent re-brand and re-launch of their employee benefits scheme. Enrolment first opened in February 2012 and within the first three weeks over two-thirds (66%) of staff had made active benefit choices, an increase of 26% on the previous year.

J.P. Morgan employs around 13,500 staff in the UK and before the re-launch had significant challenges communicating the benefits package they were providing their UK employees.

Adam Brooke, Vice-President of Employee Benefits, J.P. Morgan said: “Information about many of the benefits on offer to employees, including core benefits, was scattered across a confusing array of different company websites. This meant that employees were often not even aware of what benefits they had.

“Employees were not proactively engaged with their benefits so they, and the company, were missing out on valuable benefits and tax savings. We needed to go back to basics and develop an innovative approach to communicating and explaining our benefits.”

J.P. Morgan started working with Vebnet in September 2011 to develop a new brand, look and feel for the company’s reward package. The two teams developed a new website that pulled all the information in to once place and re-named the scheme ‘Elements’.

Pat Appleby, Senior Communications Consultant, Vebnet commented: “With the new brand, we wanted to convey the fact that the reward package as a whole is greater than the sum of its individual parts so in ‘Elements’ we have the ideal name.”

Elements opened for enrolment in February this year and while 66% have made active choices 77% of staff have logged on to the website.

Adam Brooke added: “The fact that over three quarters of employees have logged onto the site at least once, if not necessarily to make active changes, instantly gives staff a better awareness of the total value of all their benefits – from core benefits and pensions to flex.

“And this isn’t a one-off project; we’re using the website to publicise wellness seminars and improve information about pensions: initiatives that will bring traffic to the site throughout the year, beyond enrolment.

“Next year we’ll be looking to add a big new benefit or two to the scheme, but so far I’m very proud of what it’s achieved.”

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The Royal Mint reveals Britannia 25th anniversary sets for 2012

The Royal Mint has announced that it will reprise Philip Nathan’s original 1987 depiction of the British icon on the Gold and Silver Proof coins for 2012, to celebrate the 25th anniversary of the Britannia commemorative coin. To mark the milestone The Royal Mint has also created two very special sets that will feature all nine of the Britannia coins launched since 1987 available together for the first time.

Since her first appearance on English coins in the seventeenth century, Britannia has grown to become a powerful emblem, personifying the spirit of Great Britain. Her elevation to gold coinage came in 1987 and still today she adorns the high value coins of the realm. During the last 25 years nine different renditions of this most British of female figures have graced Britannia coins.

Designed by Philip Nathan, the 1987 portrait depicts Britannia as a standing figure in a classical, flowing gown, armed with her trident and shield and wearing a Corinthian helmet. This famed design has been chosen for 2012 to celebrate Her Majesty the Queen’s Diamond Jubilee and is complemented by the current portrait of The Queen by Ian Rank-Broadley FRBS on the obverse. All coins within the range feature the crenellated edge particular to Britannia coins.

Britannia’s first appearance on English coinage was on copper coins issued during the reign of Charles II. Since this time, Britannia has become an increasingly important symbol, her image becoming synonymous with national pride, unification and celebration.

Commenting on the 2012 Britannia design, Dr Kevin Clancy, Director of The Royal Mint Museum said: “Philip Nathan’s design captures Britannia in her full splendour and is itself a triumph of numismatic art. It draws its inspiration from a strongly maritime approach, Britannia windswept on a cliff-top, the very essence of authority and elegance. In such a momentous year for Britain it is entirely fitting for the coinage to be graced with an acknowledged masterpiece.”

The 2012 UK Britannia Gold Proof range includes a Tenth-Ounce Coin, a Quarter-Ounce Coin, a Three-Coin Set and a Four-Coin Set. The 2012 UK Britannia Silver Proof range includes a Brilliant Uncirculated One Ounce Coin, a Proof quality One Ounce Coin and a Four-Coin Set.

In addition to the Gold and Silver Proof coins now available within the 2012 Britannia range, The Royal Mint has created a very unique 25th anniversary set, in both silver and gold Proof, which includes all nine designs of Britannia struck as half-ounce coins and dated 2012. This landmark collection includes a special 25th anniversary booklet and Certificate of Authenticity. The Gold Nine-Coin Anniversary Collection is available to purchase exclusively via The Royal Mint’s contact centre on 0845 60 88 222. All other coins and sets are available to purchase now from The Royal Mint’s website www.royalmint.com.

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Prudential Reveals Two In Five 2012 Retirees Want To Stay In Work

Prudential has revealed that two in five (40 per cent) people planning to retire this year would be happy to work past 65 if they had the chance.

Prudential’s Class of 2012 study, which looks at the finances and expectations of those planning to retire this year, shows that 48 per cent of men and 32 per cent of women would be happy to continue working past the standard retirement age.

The main motivation for more than two thirds (68 per cent) of this year’s retirees who want to stay in the workforce past 65, is a desire to remain physically healthy and mentally active, while 39 per cent do not like the idea of retiring and just staying at home. More than half (54 per cent) claim that they enjoy working.

However, despite wanting to stay in work, only 13 per would choose to continue to work full-time with their current employer. Nearly half (49 per cent) of those retirees who want to work past 65 years old would prefer to work part-time, either with their current employer or in a new role, in order to strike a better work life balance.

More than one in 10 (11 per cent) of entrepreneurial retirees would consider starting their own business after the age of 65 or earn money from a hobby in order to keep working. Five per cent would work as charity volunteers.

Recent ONS figures show that average retirement ages are rising, with men now retiring at an average age of 64.6, compared with 63.8 in 2004, and women working until 62.3 years compared with 61.2 previously.

Vince Smith-Hughes, retirement expert at Prudential, said: “There is a new retirement reality taking shape across the UK, with thousands of people actively choosing to work past the traditional retirement age.

“The fact that so many of this year’s retirees would keep working on a part-time basis is a strong indication that, for many, working is as much about staying young at heart as it is about funding retirement.

“Gradual retirement is an increasing trend among pensioners, whether this means remaining in the same job on a flexible basis or even setting up their own business. Those retiring at 65 will face an average of nineteen years in retirement which makes the financial and social benefits of working for longer an even bigger draw for a new generation of industrious retirees.”

Around the country, those planning to retire this year from the East of England were the most keen to stay part of the workforce with 54 per cent saying that they would choose to work past 65 if they had the option. Half (49 per cent) of Londoners and 45 per cent of people in the South East would also like to continue to work.

However, just 29 per cent of Scots planning on retiring this year would be happy to work past 65 if given the choice, along with 30 per cent of retirees in Wales and in Yorkshire and Humberside, and only 21 per cent of those in the North East.

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Prudential Reveals Saving Money Is Top Priority For Thrifty Retirees

Prudential has revealed the results of new research which shows the top priority for people intending to retire this year is saving money to ensure they have enough to live on in retirement. Nearly 6 out of 10 people (57 per cent) said saving will be a top priority.

The insurer’s Class of 2012 study, which looks at the finances and expectations of those planning to retire this year, also found that women are more likely than men to prioritise saving during retirement. 62 per cent of women will make this a priority compared with 52 per cent of men.

Although saving money is a key focus, those intending to retire this year are still determined to have a fun-filled retirement. More than a third (36 per cent) say that spending money on travelling the world will be a priority for them, while 43 per cent will make spending money on enjoying themselves a priority.

Giving to charity and spending money on fighting the ageing process are low priorities for this year’s retirees. Fewer than 1 in 20 (4 per cent) image-conscious pensioners say that spending money on anti-ageing treatments will be a priority in retirement, while only slightly more will prioritise giving money to charity (5 per cent).

Vince Smith-Hughes, retirement income expert at Prudential, said: “Today’s retirees are likely to spend longer in retirement than previous generations so it is encouraging to see that they understand the importance of saving money to ensure they can live comfortably. Saving shouldn’t be regarded as something that suddenly stops once you retire, and the current generation of retirees seems to be more aware of this than ever before.

“Saving as much money as possible, from as early an age as possible, is the best way to ensure you can afford a comfortable lifestyle in retirement. Consulting a financial adviser can also be an important step in helping retirees to make the most of their pension pots.

“It’s not only about saving though; many retirees in the Class of 2012 are determined to spend money on enjoying themselves and travelling the world, which seems a fair reward for all their hard work during their working lives.”

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Melbourne Options and Futures Exchange (MOFEX) names He Zhengtang as new President

Melbourne Options and Futures Exchange (MOFEX), one of the world’s leaders market place in futures, today announced the appointment of He Zhengtang as President of Melbourne Options and Futures Exchange all operations, effective this month pending the board’s approval. He will be replacing Russell Holland, the legendary MOFEX president expert, who has also been the driving force of MOFEX from the beginning to where it is now, as a global trading market place. Mr. He Zhengtang comes from a very prestigious Singapore corporation where for nearly two decades he was the head of trading for the corporate division.

During this period Mr. He Zhengtang contributed directly to the creation of two joint ventures. “The rapidly evolving futures markets present new and exciting opportunities, and with the experience of He Zhengtang we will be enabling MOFEX to continue its path to success,” said Peter Cole, Chief Executive Officer at Melbourne Options and Futures Exchange.

“An innovator and accomplished individual, He Zhengtang brings with him a multitude of experience in futures markets for MOFEX. Russell Holland has established a successful start and a path for MOFEX during the beginnings of an industry that has faced many challenges. We would like to thank Russell Holland for his exemplary leadership and contributions, and we along with the organization look forward to working with He Zhengtang”, Mr. Peter Cole also stated.

William Cornel, Managing Director for Melbourne Options and Futures Exchange said,“Russell Holland has absolutely done a fine job in the beginnings and the development of MOFEX. He single-handedly brought success to the organization through his personal involvement and catapulting MOFEX towards difficult times, as well as being professional in managing MOFEX during the most difficult times of this markets. MOFEX and I share satisfaction and pleasure with He Zhengtang as a successor for the growth of MOFEX’s operations.”

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Melbourne Options and Futures Exchange (MOFEX) Launches New Software-Based Service Trading Platform

The Trading Department of the Melbourne Options and Futures Exchange today released a statement regarding the availability of its open source trading platform over MOFEX TECH’S network. The service is specifically designed for high volume traders and provides a high-performance hosted infrastructure with the versatility of an open source platform at a small portion of the cost of on-premise proprietary trading systems.

“The clients of today are requiring the best performance and the most minimal inactivity possible while discharging IT management problems and unneeded costs so that they can focus on what they do best which is to trade,” said He Zhengtang, President of Melbourne Options and Futures Exchange. “With MOFEX TECH by our side, we can provide this solution through a managed hosting platform. Our customers can expect to experience reduced costs of payments, versatility and performance advantages that they need to compete in this era of trading.”

The new service from the Trading Department of Melbourne Options and Futures Exchange gives Trading Companies of different sizes the versatility traders need to pursue alpha at a cost model that only an open source business model can deliver.

The clients begin with the level of capacity that they require and expand seamlessly, making payments on a basis of what they use. MOFEX TECH will host the trading platform as a partnered solution. The customers will be able to access this platform together with other services including MOFEX TECH’s high-performance, dependable and flexible directed order routing capability.“The end-to-end solution available from Melbourne Options and Futures Exchange Trading Department and MOFEX TECH shows our dedication to searching for other methods to attract liquidity and meet the needs of our clients with versatile, open and cost-effective products,” said Jiang Dao Lee, Head of MOFEX Trading Department. “By giving a solution in a secure environment, we can address concerns such as Internet speed requirements, procurement, maintaining market data infrastructure and connectivity so that our clients can spend more of their time focusing on their core competencies”, completed Mr. Dao Lee.

About MOFEX
The Melbourne Options and Futures Exchange (MOFEX) is a leading multi-product commodity and currency derivatives exchange.

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MOFEX Names Arthur Hatch to Head Team as Director of Services

MOFEX, one of the world`s most diverse marketplace announced that it has appointed Arthur Hatch, as an executive with over two decades of industry experience, to its team as Director of Services. Arthur Hatch will report to William Cornell, the Managing Director. Arthur Hatch will be in charge for heading the growth, enactment and management of MOFEX interest rate, derivatives, swaps and other product lines. He previously served as Managing Director for a leading Asian banking corporation. “MOFEX proceeds to expand its business and client base all over the world, with our extensive suite of financial products,” said MOFEX C.E.O Peter Cole. “Arthur Hatch’s addition to our executive team, along other key personnel who leads our commodity trading department, and William Hudson who leads our OTC Trading Department, will further enhance the capabilities of our team as we continue to successfully enact our global growth strategy.”

“Our global sales force continues to focus on providing innovative products and clearing services, as well as outstanding customer service, to market participants worldwide,” exclaimed Mr. Hatch. “William`s experience growing MOFEX volumes of almost twice the previous figures calculated, as well as his expertise enhancing our team and our product offering as one of the largest regulated marketplace in the Asia – Pacific, will be of incredible advantage to us, as we expand our on-MOFEX and OTC offerings in our interest rates, credit swaps and other business lines.” Prior to joining MOFEX, Arthur Hatch, acquired nearly two decades’ worth of experience in the global market, most recently as Managing Director, for a leading banking corporation where he was tasked with the development and management of the product platform, trading, technology and structured products offering in the company’s futures options business.

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Prudential Study Reveals One In Six Will Retire With No Pension

Prudential’s Class of 2012 study has revealed that one in six people (16 per cent) planning to retire this year will depend on the State Pension to fund their retirement as they have no other pension.

The figures come from Prudential’s Class of 2012 research, which provides insights into the financial expectations of Britons planning to retire this year.

Women are more than twice as likely as men to have no pension; 20 per cent of women retiring in 2012 will depend on the State Pension compared with just 8 per cent of men.

The average person planning to retire this year will look to the State for 34 per cent of their income, with State Pension payments set to rise to £107.45 a week for single people from the 6th April 2012. Company pensions (35 per cent) are the second highest source of income and the remaining 30% comes from a mixture of savings, investments, personal pension savings, part time work and money from family members.

The Prudential research also shows that one quarter (26 per cent) of people retiring this year either overestimate by more than £500 a year what the State Pension pays, or simply do not know.

Vince Smith-Hughes, retirement income expert at Prudential, said: “While the State Pension is a safety net for pensioners in the UK, it should only ever be regarded as part of an overall retirement plan.

“For far too many people, the State Pension has become the default income option in retirement. Even those who have some private provision depend so heavily on the State that it makes up a third of their retirement income.

“Although State Pension levels will rise to £107.45 for single people per week on Friday, this will still only provide relatively low levels of income to people in retirement. It’s a weak safety net for those without any savings and the real income shock for many retirees will come when the gap between their current earnings and the State Pension becomes apparent.

“If people want to maintain their standard of living in retirement it is important that they start to save as much as possible as early as possible, and the vast majority should join company pension schemes where possible. Seeking early advice from a financial adviser should also be a prerequisite to helping people achieve the level of retirement income they want and need.”

Regionally, people retiring this year in the Midlands are the most likely in the UK to rely on the State Pension (40 per cent). This compares with a quarter (28 per cent) of those in Scotland, who claim that they will be the least reliant on the state for their retirement income.

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Business Monitor International Highlights Myanmar’s Most Promising Investment Sectors

Business Monitor International (BMI) has released the latest special report “Myanmar Awakens: Unearthing Asia’s Hidden Gem” analysing Myanmar’s recent rapprochement with the West and its promising signs of political and economic liberalisation.

The recent by-election results appear to mark a watershed moment in the country’s recent reform drive, with positive implications for both the political system and the state’s improving relationship with the international community. The impact on Myanmar’s investment prospects will be closely watched, with investors particularly interested in whether or not EU and US economic sanctions will be lifted. According to BMI, Myanmar (formerly known as Burma) has a history of poor market accessibility and many hope that the country will now emulate the success of countries such as Thailand and Vietnam, fuelled by hopes that the country is finally emerging from decades of isolation to join the ranks of Asia’s economic powerhouses.

While a timetable is still hard to pin down, sanctions are expected to be drawn down incrementally over the course of the coming year. The report recognises key political and geopolitical factors that will drive or constrain Myanmar’s reforms for the changing nation and identify the challenges faced by investors as a result of Myanmar’s business environment.

“Myanmar Awakens: Unearthing Asia’s Hidden Gem” assesses the ‘new era’ in sight and as seen in other resource-rich frontier markets, BMI expects a number of key sectors to dominate investor attention in the short to long term, should there be a relaxation of the US and EU economic sanctions.

BMI’s portfolio of products provides comprehensive analysis across emerging market economies and enables global investors, emerging market strategists and decision-makers across the corporate spectrum to assess and evaluate global political and economic risks and aid strategic planning activities over the short, medium and long term.

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The Royal Mint Marks 100th Anniversary Of The Titanic With Commemorative £5 Coin

The Royal Mint has released the Titanic £5 coin in remembrance of the 100th anniversary of the historic ships’ maiden voyage in 1912. Designed by Royal Mint engraver, Lee Robert Jones, the coin commemorates a maritime legend.

The Titanic coins depict the instantly recognisable profile of RMS Titanic with the goddess Thane looking down on the ship as it sails through the Atlantic Ocean. Erected on 26th June 1920 as a memorial to all those who died, the marble figure of the goddess stands in Belfast, home of the Harland and Wolff shipyard, the biggest in the world at the time, where Titanic was constructed.

Commenting on his design, Jones said: “My design is concerned with the spectacle of the ship and her story. Thane, the goddess of death, is to reflect the significance of the event; she symbolises respect and sorrow for the loss that ultimately occurred. Her stark silhouette contrasts with the detailed image of Titanic, cutting through the waves with purpose and pride.”

The first voyage of RMS Titanic, the largest passenger steamship in the world at the time, began on 10 April 1912, when she set sail from Southampton to New York, with 2,223 people on board. Owned by the White Star Line, the luxurious passenger liner was one of three sister ‘Olympic class’ ships built to cater for the most elite passengers, her lavish fittings reflecting the opulence and elegance of the Edwardian age.

Late on the morning of 14 April 1912, RMS Titanic struck an iceberg leading to the ship sinking less than three hours later, a disaster that resulted in the loss of more than 1,500 lives.

Commenting on the new coin, Dr Kevin Clancy, Director of The Royal Mint Museum, said: “The story of Titanic has long captured imaginations. The passing of 100 years has not lessened the interest in the tragic outcome of her maiden voyage, the personal stories of those on board or the achievement of the iconic ship as a feat of British engineering. The Royal Mint’s coin will mark this occasion and, we hope, will be passed on to future generations to honour the lives that were lost, underlining the significance of RMS Titanic in British history.”

The Titanic Alderney* £5 coin has an uncompromising finish; struck to a higher quality than every day coinage. For more stand-out brilliance you can view silver coins available from the Royal Mint. For further information, please visit www.royalmint.com.

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Standard Life Reveals Less Than A Third Of UK Adults Know When The Tax Year Ends

Standard Life’s ‘Financial Efficiency’ research shows that a large number of people in the UK are at risk of missing the opportunity to capitalise on their ISA tax allowance and their pension contribution limits because they don’t know when the tax year ends. The research, which asked a poll of over 2000 people in the UK to say when they thought the end of the tax year was, found that only three in 10 Brits (31%) know the correct date.

The tax year end falls on April 5th, but the majority of the public (69%) either doesn’t know or thinks it’s a different date. Some said it was earlier in the year, with one in 12 (8% – more than 4.08 million people*) thinking the end of the tax year is April Fool’s day.

But more alarmingly, 7.27 million people** (15%) of respondents believe their tax deadline falls after April 5th. Even those who already actively save into ISAs can still get it wrong. Only 36% of ISA investors were able to correctly identify the tax year end date and a worrying one in six (17%), thought the tax year end was later than April 5th.

People in Northern Ireland seem to be the most clued up on the tax year-end deadline, with almost two in five (38%) identifying the correct date. While people in Wales were the least aware, with only one in four (25%) people able to correctly identify April 5th as the tax year end.

Standard Life’s Julie Russell commented: “Our research shows that few people know when the tax year ends. While more people believe it is before April 5th, each year than after, and that is perhaps less of a worry, it’s a real concern that so many ISA investors don’t know when the annual cut off point is for their investments.

“If you are saving into tax efficient savings or investments like ISAs or pensions, then you really do need to know when the tax year ends. The 5th of April should be front of mind. Otherwise you risk not making the most of these products and their valuable allowances.”

People can find out more about being financially efficient with investments like pensions and stocks and shares ISAs at www.yourfuturemoney.co.uk which also includes top tips and interactive tools.

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The Royal Mint Reveals New Precious Metal Coins To Commemorate Diamond Jubilee

The Royal Mint has unveiled five new precious metal variations of the only official UK £5 coin, struck to mark the occasion of Her Majesty the Queen’s Diamond Jubilee in 2012.

Like the Brilliant Uncirculated version released a few months ago, the diamond jubilee coins have been designed by Ian Rank-Broadley FRBS to celebrate a regal achievement matched only by Queen Victoria, The Queen’s great-great- grandmother. The portraits encapsulate The Queen’s 60 years on the throne, and will appear exclusively on the Diamond Jubilee £5 coins, now available in Silver Proof, Silver Piedfort, Gold-Plated Silver Proof, Gold Proof and Platinum Piedfort.

The first of the new portraits shows a contemporary image of Her Majesty dressed in formal Garter Robes with gravitas and stately bearing. The other portrait is a tribute to Mary Gillick’s youthful 1953 effigy; a classical depiction of a young monarch wearing a laurel wreath alongside the Latin words ‘Dirige Deus Gressus Meos’ – ‘May God Guide My Steps’.

Combined, both portraits tell a celebratory story of a rich, historic reign, from the fresh and optimistic beginning of a new Elizabethan era to the gravitas of an assured and dignified Head of State 60 years on.

Commenting on the new coin, Kevin Clancy, Director of the Royal Mint Museum, said: “Ian’s new portraits tell the story of The Queen’s long reign with beauty and elegance and his artistry combines with the fine quality of these precious metals to create five beautiful coins that truly honour this remarkable occasion. The coins offer collectors a chance to mark this momentous achievement with an individual and treasured piece of history.”

For those interested in coin collecting, the official UK £5 precious metal coins to commemorate The Queen’s Diamond Jubilee are available now from The Royal Mint’s website www.royalmint.com.

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