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Superannuation

AMP Income Securities buyback offer opens

AAP  |  WEDNESDAY, 17 MAR 2004
Financial services and insurance group AMP Ltd said today it has reached agreement with the trustee for the group's Income Securities to amend the terms of the securities.

Study shows many Australian retirees on low incomes

AAP  |  WEDNESDAY, 17 MAR 2004
The majority of retired Australians are living on no more than $320 per week, but that hasn't deterred people from leaving work years before the traditional retirement age, a study released yesterday found.

Challenger says divests non core property assets

AAP  |  TUESDAY, 16 MAR 2004
Diversified financial services company Challenger Financial Services Group said today it has entered into unconditional contracts for the sale of 11 properties to Cromwell Corporation for $152 million.

ASIC warns consumers are target of offshore fraud

AAP  |  TUESDAY, 16 MAR 2004
The Australian Securities Investment Commission (ASIC) has warned that unlicensed offshore stockbrokers have re-emerged in Australia, targeting consumers interested in maximising their superannuation.

Macquarie Goodman to raise $150 million

AAP  |  TUESDAY, 16 MAR 2004
Macquarie Goodman said today it will raise $150 million with the completion of a placement to fund business activities.

Macquarie Korea fund acquires two more assets for $239 million

AAP  |  MONDAY, 15 MAR 2004
Macquarie Bank Ltd's Korean road fund has acquired two more assets for $239 million, continuing the Australian investment bank's expansion into that country.

S&P lowers NAB rating to AA-minus from A

AAP  |  MONDAY, 15 MAR 2004
Standard & Poor's Ratings Services said that it has lowered its long-term counterparty credit rating on National Australia Bank Ltd (NAB), and related entities, to AA-minus from AA.

NAB report reveals critical weaknesses

WITH AAP  |  FRIDAY, 12 MAR 2004
A report released today into the National Australia Bank's (NAB) foreign exchange scandal revealed critical weaknesses in the bank's culture, governance and risk frameworks.

Super growth funds on a high in February: InTech

Superannuation growth funds continued their upward performance trend in February, with the median growth manager gaining 1.7% to produce strong returns of 8.1% for the financial year to date.

PM Capital launches long-only Aussie equity retail fund

Colonial First State has announced an exclusive agreement with PM Capital which will bring the first long-only Australian equity fund managed by PM Capital available to the retail market.