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Superannuation

Industry fund signs directed brokerage agreement

The controversial practice of directed brokerage continues to make inroads in Australia, with industry fund Unisuper announcing it has entered into a commission recapture program with the Frank Russell group.

IWL appoints new head of equities market solutions

Following recent presentations regarding IWL's imminent entry into the Equities Market Solutions marketplace, IWL has appointed Debbie Dixon Child as general manager - equities market solutions.

Australian SRI efforts rewarded by UN

BT Financial Group (BT) and the Public Sector and Commonwealth Super Schemes (PSS/CSS) have jointly received a award recognising their activities in the field of sustainability and socially responsible investment.

Sealcorp chief quits

AAP  |  WEDNESDAY, 22 OCT 2003
St George Bank Ltd's top funds management executive, Ian Knox, has quit, continuing a reorganisation sweeping the top line of the funds management industry.

Afternoon market wrap: Australian shares close at new highs

The Australian stock market bounced back into positive territory to hit a fresh 16-month high today amid a mixed performance by blue chip stocks.

Business conditions strengthen significantly: NAB survey

AAP  |  TUESDAY, 21 OCT 2003
Business conditions strengthened significantly in the September quarter, with confidence up sharply, according to the latest National Australia Bank survey.

S&P affirms ratings on CFS Gandel Retail Trust

AAP  |  TUESDAY, 21 OCT 2003
Standard & Poor's said today it has affirmed its A/A-1 long- and short-term ratings on CFS Gandel Retail Trust (GAN) and its guaranteed debt issues and programs.

NAB confirms discussions with ACCC over AMP takeover

AAP  |  TUESDAY, 21 OCT 2003
National Australia Bank Ltd has reportedly held preliminary discussions with the national competition watchdog regarding a takeover of AMP Ltd and believes it could be allowed to proceed.

Maccquarie Airports peaks on Sydney Airport earnings jump

AAP  |  TUESDAY, 21 OCT 2003
Sydney Airport has reported a dramatic rise in quarterly earnings, propelling shares in part owner Macquarie Airports (MAp) to their highest intraday levels in 16 months.

Trust Co announces $5.56 million first half net profit

AAP  |  TUESDAY, 21 OCT 2003
Trust Company of Australia Ltd said its merger with Permanent Trustees had yielded good dividends as it announced a strong interim profit result today.