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Superannuation

Aegis maintains approval in Macquarie CDO

Aegis has maintained its 'approved' rating of Macquarie's structured product, Generation Income Notes (Generator) stating the product offers investors security and the opportunity for capital gain.

Babcock & Brown secures profit

Babcock & Brown has posted a net profit of $78.2 million with an increasing proportion of revenues being derived from investment management and principal investment activities.

Australian Unity strong results drives push to demutualise

Australian Unity has increased its profits by 65 per cent, posting an after tax profit of $13.4 million for the 2005 financial year with the Group's financial planning and funds management business also achieving strong results.

Meat Workers' fund takes number one rank

The Australian Meat Industry Superannuation Trust (AMIST) has overtaken MTAA Super as the leading superannuation fund for workplace default investment options for the 2004-05 financial year.

10 per cent of companies churn banks each year

Banking analyst East & Partners has just reported that Australia's major companies are increasingly shopping around for the best financial deal with bank churn rates jumping 28 per cent during the year.

CBA and APRA discuss IFRS implications

AAP  |  TUESDAY, 16 AUG 2005
The Commonwealth Bank of Australia (CBA) is in talks with the financial services regulator over the impact of new international financial reporting standards (IFRS) on its accounts.

Watson Wyatt picks up consultant gig for LUCRF

Industry superannuation fund Labour Union Co-operative Retirement Fund (LUCRF) has named Watson Wyatt as its investment consultant as of August 1st this year.

Netwealth moves custody services inhouse

Non-institutional platform Netwealth has shifted the custody of its assets inhouse on its wrap, superannuation master fund and MIS products.

Emergency Services Super allocates $30 million to Deutsche

Deutsche Asset Management (DeAM) has won a $30 million mandate from Emergency Services Super (ESS) for the manager's Australian Small Companies Fund.

Market wrap

AAP  |  WEDNESDAY, 20 JUL 2005
The Australian share market is expected to open former as a strong lead from the USD and some major companies making announcements, as well as some bargain hunting following yesterday's weakness, all combine to push the local bourse higher.