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Superannuation

Australian United Investment reports profit jump

AAP  |  TUESDAY, 24 FEB 2004
Australian United Investment Company said dividends received through participation in share buy back schemes had contributed to a significant rise in first half net profit for 2003-2004.

IOOF CEO says group will exceed prospectus forecast

AAP  |  TUESDAY, 24 FEB 2004
Newly-listed funds manager IOOF Ltd is confident it can exceed its prospectus forecast for 2003-2004 after yesterday announcing its half year net profit more than doubled.

Rising dollar, interest rates good for Challenger profit

AAP  |  MONDAY, 23 FEB 2004
Challenger Financial Services Group Ltd said today that it was a very different company to the one that existed nine months ago after reporting a pro-forma net profit of $33 million for the first half.

AMP sees 2003 net profit in $600 to $620 million range

AAP  |  MONDAY, 23 FEB 2004
Financial services and insurance group AMP said today it was expecting its 2003 underlying business results to be considerably higher than that forecast in its explanatory memorandum for its demerger.

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.