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Challenger exits corporate super admin

Challenger Financial Services Group yesterday announced the completion and final sale of Challenger Superannuation Services (CSS) to Australian Administration Services (AAS). The parent company of AAS, the listed IT company Kaz Group, said in a statement ...

Macquarie Bank misses $65.7 in MIG performance fees

AAP  |  THURSDAY, 1 JUL 2004
Macquarie Bank has missed out on $65.7 million in performance fees, after its flagship infrastructure fund failed to outperform a major Australian stock index. Macquarie Infrastructure Group's securities (MIG) needed to outperform the S&P/ASX 300 index ...

Challenger rallies as Lowy investment emerges

AAP  |  WEDNESDAY, 30 JUN 2004
Shares in Challenger Financial Services Group surged yesterday after another high profile business figure emerged as a major stakeholder. LFG Holdings, a private investment vehicle run by the family of Westfield chairman Frank Lowy, bought a 5.78% stake ...

Investors win damages case for bad advice

AAP  |  WEDNESDAY, 30 JUN 2004
A group of investors has won a damages action in a Victorian court against a financial advisory service, claiming losses of up to $30 million in investment schemes. In a judgment handed down yesterday in the Victorian Supreme Court, Justice Phillip ...

Durack jumps ship to Perpetual

Perpetual Investment has announced the appointment of Chris Durack to a newly created senior position within the wholesale division of the company. Durack is currently head of research, retail products at Mercer Investment Consulting and was previously ...

Revised options disclosure requirements: ASIC

The Australian Securities and Investments Commission (ASIC) yesterday issued revised guidelines on how Australian listed companies should disclose the value of option packages provided for directors' and the executives of the company. ASIC said the ...

van Eyk appoints Lander senior research analyst

van Eyk Research yesterday announced Jerome Lander had been appointed to the role of senior research analyst within the group's manager research team. Lander will join a team of five qualitative analysts and two quantitative analysts responsible for ...

ASIC announces changes to financial reporting standards

The Australian Securities and Investments Commission (ASIC) yesterday announced changes to its financial reporting standards, removing the requirement for some wholly-owned subsidiary companies, the company directors and professional advisers to seek ...

AMP Capital and Macquarie appoint Philip Garling as DUET chair

AAP  |  FRIDAY, 25 JUN 2004
AMP Capital Investors and Macquarie Bank yesterday announced the appointment of Philip Garling as the first chairman of their Diversified Utility and Energy Trusts (DUET) joint venture. Garling, who heads AMP Capital\'s infrastructure investment, is ...

Market wrap

AAP  |  FRIDAY, 25 JUN 2004
The Australian market will be hit by conflicting forces with weaker US equity markets being pitted against firmer commodity and base metal prices to set the tone for the local market. Australia's indices were weaker yesterday as selling in News Corp ...