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Superannuation

AMP books $5.5 billion loss for 2003 after writedowns

AAP  |  THURSDAY, 4 MAR 2004
AMP today booked Australia's second biggest corporate loss, with writedowns and costs from spinning off its British operations leaving the group $5.542 billion in the red in 2003.

War veteran pension increase announced

AAP  |  THURSDAY, 4 MAR 2004
Disabled war veterans will receive more generous pensions after coalition MPs and senators approved an extra $267 million benefits package.

Macquarie Bank sets up Japanese infrastructure fund

AAP  |  WEDNESDAY, 3 MAR 2004
Macquarie Bank has acquired a stake in a Japanese toll road, continuing its plan to invest in infrastructure assets around the world.

APRA gains more powers to act against dishonest execs

AAP  |  WEDNESDAY, 3 MAR 2004
Financial executives will face tough new monitoring by regulators following the latest series of reforms after the collapse of HIH insurance.

ASIC to continue consulting role after FSR transition

The Australian Securities and Investments Commission has confirmed it would continue to consult with industry and consumer groups after the Financial Services Reform Act comes into effect on March 11.

Westpac comfortable with market expectations

AAP  |  MONDAY, 1 MAR 2004
Westpac Banking Corp said today that it was comfortable with market expectations for the 2004 financial year as it met with institutional investors.

Private Portfolio Managers launches LIC

AAP  |  MONDAY, 1 MAR 2004
Boutique fund manager Private Portfolio Managers today launched a new listed investment company (LIC), to be called PPM Investments Ltd.

ING posts 50% increase in net profit

AAP  |  MONDAY, 1 MAR 2004
Australia and New Zealand Banking Group said today that ING Australia, the nation's fourth largest retail fund manager and life insurer, posted a 50% increase in net profit in 2003

Super fund assets lift 2.2%: ABS

AAP  |  MONDAY, 1 MAR 2004
Superannuation funds' assets lifted 2.2% in the December quarter to more than $330 billion, according to figures from the Australian Bureau of Statistics

ASIC stops IFC investor fund raising

The corporate watchdog has obtained interim orders in the Federal Court,preventing International Finance Corporation Limited and its directorsfrom raising funds from investors.