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Superannuation

Morningstar awards two stars to ABN AMRO international equities management

Morningstar has awarded two stars to ABN AMRO Asset Management's international equities fund management that are under the mandate of MLC.

REST appoints MFS its new global equities manager

Industry superannuation fund REST has appointed MFS to manage a $200 million global equities mandate - around 3.6 per cent of its entire portfolio - it announced yesterday.

HGL launches new listed investment company, MMC

AAP  |  TUESDAY, 14 OCT 2003
HGL Ltd today launched a new listed investment company, MMC Contrarian Ltd, to focus on out of favour or overlooked stocks.

ICA Property Group launches third property fund

AAP  |  TUESDAY, 14 OCT 2003
Sydney developer ICA Property Group in conjunction with Macquarie Bank has announced the establishment of a third fund to raise a further $50 million for investment in non-residential property developments.

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.