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General

Maple-Brown Abbot tops balanced pooled super rankings: Rainmaker

Maple-Brown Abbot (MBA) had the highest returns among Australian fund managers for balanced pooled superannuation funds in 2002, returning a loss of 3.12% in a miserable year investors, Rainmaker Information said today.

Telstra profits down by 44% to $1.18 billion

Telstra’s profits plunged by 44% in the second half of 2002, falling to $1.18 billion for the period ending December 31 2002, the telecommunications giant said today.

Afternoon market wrap: AMP dumped after $896 million loss

Investors delivered another blow to struggling AMP today after it announced a spectacular full-year loss of $896 million, down 230% on 2001.

AMP record $896 million for 2002

AMP posted $896 million in losses for the year ending December 31 2002 as the company had $1,571 million in write-offs and restructuring costs.

ASIC files charges against Southcorp

The Australian Securities and Investments Commission (ASIC) today filed proceedings in the Federal Court against Southcorp Limited alleging a breach of its continuous disclosure obligations in April 2002.

ASX registers profit of $31.4 million for December half 2002

The Australian Stock Exchange (ASX) today announced profits of $31.4 million for the six-month period to December 31 2002

Perpetual posts profit of $43.26 million

Perpetual Trustees Australia Limited posted a December 2002 half-yearly profit of $43.26 million. This represents a $3.76 million or 9.5% rise over the $39.5 million profit figure for the corresponding period in 2001.

Sherry lashes out higher super access age report

Nick Sherry, the Opposition Minister for Retirement Incomes and Savings, today lashed out at the federal government’s reported proposal to increase the preservation age at which people can access their superannuation funds from 55 years to 65 years ...

Style neutral, growth managers to gain some favour in 2003

Research house van Eyk, in it s annual Australian Equities Sector Review report released today, said that style neutral and growth managers will see a modest increase in favour in 2003, following a year of dominance for value managers in 2002.

Platinum defies international equity bloodbath: Rainmaker

Platinum Asset Management has comfortably been the best performing fund manager in international equities in both the short and medium-term, Rainmaker Information said today.