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Superannuation

AMP shares drop with UK value reduction

AAP  |  TUESDAY, 14 OCT 2003
Shares in AMP Ltd dropped back this morning after it said a reduction in carrying value of around $2.4 billion was possible for its United Kingdom operations.

AMP faces $1 billion writedown

AAP  |  TUESDAY, 14 OCT 2003
Troubled financial services group AMP Ltd will reportedly take another $1 billion hit on the value of its United Kingdom business.

Vertex to close domestic hedge fund, flags further expansion

Sydney-based hedge fund, Vertex Capital Management Limited, has announced the pending closure of its Australian relative value fund, and has also foreshadowed both a new appointment and a new offering for investors.

Westpac named Australia's number one company: RepuTex

Westpac has been named Australia's number one company, receiving the only AAA rating for corporate social responsibility in the RepuTex Social Responsibility Ratings (SR) announcement, at a National Press Club event in Canberra.

ABA reports "pleasing" fall in banking ombudsman cases

The Australian Bankers' Association (ABA) has said it is pleased with the 13.3 per cent fall in the number of cases dealt with by the Banking Ombudsman, compared to last year.

Industry expert John Nolan joins REST Investment Committee

Industry fund REST Superannuation has announced the appointment of high profile investment professional John Nolan to a key role on its Investment Committee.

AMP shares soar as Mohl details demerger plan

AAP  |  MONDAY, 13 OCT 2003
Shares in AMP Ltd charged through the $7.00 barrier in early trade today as chief executive Andrew Mohl began updating analysts on details of the group's demerger plan.

AMP debt down by 2005: CEO

AAP  |  MONDAY, 13 OCT 2003
AMP's demerger and debt reduction program should see the troubled finance giant with excess cash and a possible share buy-back by the end of 2005, AMP chief executive Alan Mohl said over the weekend.

Macquarie to purchase Swedish rail link

AAP  |  MONDAY, 13 OCT 2003
Macquarie Bank has today agreed to acquire Sweden's A-Train operations for $76 million.

Small caps fire investor interest: fund managers

AAP  |  FRIDAY, 10 OCT 2003
Funds managers have noted renewed investor enthusiasm for Australia's small cap stocks, which continue to outperform the general market recovery of recent months.