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Superannuation

Investa ups distribution forecast

AAP  |  THURSDAY, 9 OCT 2003
Listed property trust Investa Property Group Ltd has upped its distribution forecast for 2003/04 to 16.5 cents.

S&P lowers Lumley Life rating to BBB

AAP  |  THURSDAY, 9 OCT 2003
Standard & Poor's said today that it lowered the insurer financial strength and counterparty credit ratings on Lumley Life Ltd to BBB from A and removed the ratings from credit watch with developing implications.

Macquarie spends $40 million in South Korea

AAP  |  THURSDAY, 9 OCT 2003
Macquarie Bank Ltd has deepened its footprint in South Korea, with another $40 million investment in a vital toll road linking two of the nation's biggest cities.

NAB commits to expanding wealth management capabilities

National Australia Bank (NAB) has hinted it remains interested in acquiring the Australian Financial Services business of the AMP, today saying it will continue to invest in the bank's wealth management capabilities in Australia and the United Kingdom.

TXU appoints advisers to assess partial Australian float

Texan energy giant TXU Corp has appointed advisers to assess the proposed partial float of its Australian subsidiary.

Moody's launches Australia/NZ web site

Ratings agency Moody's Investors Service today launched a specialist web site for its Australian and New Zealand products and research.

AMP shares up on hopes of reinsurance sale

AAP  |  WEDNESDAY, 8 OCT 2003
Shares in AMP Ltd rose by more than one per cent in early trade today amid reports that it could be close to selling its global reinsurance business for $600 million.

Wollemi Trust issues inaugural portfolio credit linked notes

AAP  |  TUESDAY, 7 OCT 2003
Standard & Poor's Ratings Services today assigned its AAA rating to the A$50 million portfolio CLNs to be issued by Wollemi Trust, a special-purpose vehicle established by Westpac Banking Corp (WBC).

NZ Super Fund appoints BNP Paribas as new custodian

The New Zealand Superannuation Fund has finalised the negotiations with BNP Paribas Securities Services to secure BNP Paribas as the custodian and investment operations provider to the NZ Fund.

Sponsors flag closing date for Fiduciary International Real Estate Fund

The Fiduciary International Real Estate Fund, the first international real estate fund of funds available specifically for Australian investors, will close to new investors on 22 October, the fund's sponsors have announced.