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Superannuation

AssetInsure granted APRA licence

AAP  |  MONDAY, 23 FEB 2004
The first entrant into Australia's insurance market since the collapse of HIH is to be chaired by ex-New South Wales premier and former federal finance minister John Fahey.

FRM diversified Aus fund records 10.86% return

Financial Risk Management (FRM) has announced that its diversified Australia fund recorded a return of 10.86% for the 12 months to January 2004.

CSR to roadshow debut $A bond issue

AAP  |  FRIDAY, 20 FEB 2004
CSR Ltd said it would soon begin a roadshow in Australia to assess demand for its debut Australian dollar bond issue.

Hostplus gains 30,000 members with Western Australia merger

Australian hospitality industry superannuation fund HostWest is to merge with national industry fund Hostplus.

Super roll-over groups to come under IFS banner

Two of the largest superannuation roll-over entities are set to merge, kicking off the first stage in the amalgamation of non-superannuation entities announced by the Industry Fund Services group this month.

Macquarie promotes higher alternative asset allocations

Macquarie Funds Management has challenged the accepted finance industry approach of allocating only 5% of an investment portfolio to alternative assets.

APRA raised concerns with NAB before rogue trading scandal

AAP  |  THURSDAY, 19 FEB 2004
The banking watchdog raised concerns about National Australia Bank's risk management early last year, more than six months before the rogue trading scandal that cost the bank's two top jobs

HIH liquidators to acquire almost $300 million from reinsurers

AAP  |  THURSDAY, 19 FEB 2004
The liquidators of HIH today acquired about $300 million from a company involved in reinsurance deals with the collapsed group.

Lend Lease says net operating profit on track

AAP  |  THURSDAY, 19 FEB 2004
Lend Lease Corporation today said its full year operating net profit would be in line with market expectations.

Commonwealth Property Office Fund will meet earnings forecast

AAP  |  THURSDAY, 19 FEB 2004
Commonwealth Property Office Fund (CPA) today said it would achieve its full year earnings and distribution forecasts despite a weakening in net property income expectations.