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General

APRA gives thumbs-up to IOOF-Lifetrack deal

The Australian Prudential and Regulation Authority (APRA) today welcomed the announcement of the proposed purchase of AM Corporation’s superannuation and insurance business, Life Track Management, by IOOF.

ASIC sends WA financial adviser back to school

The Australian Securities and Investments Commission (ASIC) today accepted an enforceable undertaking from Jean-Jacques Blandin, formerly of Australian Financial Securities (AFS), that he will not act as a financial representative unless he has successfully ...

AXA records $316 million profit for 2002

AXA Pacific Holdings (AXA-APH) today announced a profit of $316 million for the 12 months to December 31 2002. This represents a 14% increase compared to the corresponding period of 2001.

Dimensional, Tyndall best performers for the past 12 months

Value-style fund managers Dimensional and Tyndall have achieved the best results for the past 12 months by being the only managers to produce positive returns, of 0.8% and 0.01% respectively, in period when the S&P/ASX fell 11.4%, InTech reported today.

Value funds significantly outperform Growth funds: InTech

InTech’s latest performance survey released today revealed that value-style fund managers significantly outperformed their growth-style counterparts over the past 12 months.

Morning market wrap: All Ordinaries up

The All Ordinaries gained close to 1% in trading this morning as all the major international share markets gained about 1% in trading on Friday and early today.

ASIC hails court decision on One.Tel chairman

The Australian Securities and Investments Commission (ASIC) today hailed the decision of the NSW Supreme Court to throw out an application by the former One.Tel chairman John Greaves to have ASIC’s civil proceedings against him dismissed.

Sanford board rejects "inadequate" IWL offer

Financial services group Sanford’s board of independent directors has unanimously recommended that its shareholders reject a takeover offer from InvestorWeb Limited (IWL).

Advice fears won't halt 'choice of super': Coonan

The Government has spelt out its determination to see ‘choice of super’ finally passed into legislation despite fears concerning the current standard of financial advice available to Australians.

Net profit loss of $92 million for Woodside

Woodside Energy announced a net loss of $92 million for 2002, a decrease of 10.8% over the underlying 2001 profit of $817.8 million.