The Investment & Financial Services Association (IFSA) has changed its name to the Financial Services Council and adopted an expanded mandate. “The Financial Services Council will continue to be a strong voice on behalf of the funds management, superannuation and life insurance industries," chairman David Deverall said. The industries represent $1.4 trillion. Staff reporter

Clime Investment Management said preliminary pretax profit was as much $3.8 million for the year ended June 30. It cited four factors for the improvement: growth in funds under management, performance fees, membership growth to 1700 for online company valuation service ‘StockVal’ and strong returns from balance sheet investments. Staff reporter