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Superannuation

NAB ratings unaffected by losses: S&P

AAP  |  THURSDAY, 15 JAN 2004
Standard & Poor's said its ratings on National Australia Bank Ltd (AA/Stable/A-1-plus) are unaffected following the disclosure of unauthorized foreign exchange transactions that are expected to result in pretax foreign exchange option losses of $A180 ...

Whistleblower exposed NAB losses

AAP  |  WEDNESDAY, 14 JAN 2004
A whistle-blower exposed three months of unauthorised trading that lost the National Australia Bank up to $180 million.

ING Industrial Fund boosts property book value by 10%

AAP  |  WEDNESDAY, 14 JAN 2004
ING Industrial Fund has boosted the book value of nine east coast properties by 10%, claiming the industrial property market is still going strong.

Banks face challenges: Fitch

AAP  |  WEDNESDAY, 14 JAN 2004
Fitch Ratings has said Australian banks face challenges in maintaining their recently strong financial performance.

Four NAB currency dealers suspended

AAP  |  WEDNESDAY, 14 JAN 2004
National Australia Bank has suspended four foreign currency dealers over unauthorised trades that resulted in losses of up to $180 million.

S&P assigns first AAA rating to Australian equity fund

AAP  |  TUESDAY, 13 JAN 2004
Standard & Poor's announced today that it has assigned its first AAA rating to an Australian equity fund

Macquarie ProLogis buys US properties for $12 million

AAP  |  TUESDAY, 13 JAN 2004
Macquarie ProLogis Trust has acquired interests in two North American properties for $US9.3 million ($12.0 million).

Convicted director brought before Court on new charges

A former Melbourne director has been charged in the Melbourne Magistrates Court with two counts of managing a corporation whilst disqualified.

ASIC launches inquiry into super funds

AAP  |  TUESDAY, 13 JAN 2004
The Australian Securities and Investment Commission (ASIC) has launched an inquiry into superannuation funds.

Industry fund follows name change trend to broaden membership

The Combined Schools Superannuation Fund became the latest fund to change its name in a bid to widen its membership base.