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Superannuation

Trustee board licensing to boost super outsourcing

Proposals by the Australian Prudential Regulation Authority to license trustee boards are expected to drive employers to outsource around $10 billion in superannuation funds during 2004.

Senior management may be held accountable for rogue trading

AAP  |  TUESDAY, 27 JAN 2004
Senior management at the National Australia Bank may be held accountable for the rogue trading scandal that could cost the bank as much as $600 million.

Macquarie raises $125 million in South African infrastructure

AAP  |  FRIDAY, 23 JAN 2004
Macquarie Bank Ltd's African investment joint venture has raised $125 million in its second private infrastructure fund, with plans afoot to raise more in coming months.

Credit quality on the turn, says S&P

The pace of deterioration in the credit quality of Australian and New Zealand companies slowed in late 2003 and may signal improvement on the way for 2004.

Super funds growth doubles in Q3 2003

Annual growth in Australian superannuation funds under management accelerated to almost 9% in the third quarter of 2003, nearly double the rate of growth recorded in the previous quarter.

Lend lease buys ComLand for $165 million

AAP  |  FRIDAY, 23 JAN 2004
Property company Lend Lease has bought two residential estates from the commonwealth government for $165 million.

Fraser takes swipe at CEO salary packs

AAP  |  FRIDAY, 23 JAN 2004
The former governor of the Reserve Bank of Australia, Bernie Fraser, has taken a swipe at executive pay levels.

ASIC begins investigation into NAB options trading

AAP  |  FRIDAY, 23 JAN 2004
The Australian Securities and Investments Commission has started an investigation into rogue trading at the National Australia Bank.

Macquarie Direct Property closes syndicate with sale of assets

AAP  |  THURSDAY, 22 JAN 2004
Macquarie Direct Property Management has closed one of its syndicates through the sale of its assets.

HGL to meet forecast profits

AAP  |  THURSDAY, 22 JAN 2004
Diversified investment group HGL Ltd said profit after tax and minorities between $5 and $5.5 million would likely be achieved this fiscal year.