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Superannuation

Macquarie Bank misses $65.7 in MIG performance fees

AAP  |  THURSDAY, 1 JUL 2004
Macquarie Bank has missed out on $65.7 million in performance fees, after its flagship infrastructure fund failed to outperform a major Australian stock index.

Reverse Mortgages on the comeback: Datamonitor

A report released today by Datamonitors highlights a sharp increase in the demand for reverse mortgages in Australia as a result of the retirement savings gap, an aging population and the considerable amount of wealth tied up in residential property.

Investors win damages case for bad advice

AAP  |  WEDNESDAY, 30 JUN 2004
A group of investors has won a damages action in a Victorian court against a financial advisory service, claiming losses of up to $30 million in investment schemes.

ASIC scamseek goes online

After a 16 month trial, the Australian Securities Investments Commission (ASIC) launched its scamseeker spider today, an Internet-document classification system able to automatically identify websites that illegally promote financial schemes and lock ...

Aust govt not to raise objections to News Corp move

AAP  |  TUESDAY, 29 JUN 2004
The federal government will not raise any objections to News Corporation relocation of its place of incorporation to the United States.

LFG declares substantial interest in Challenger: report

The executive shakeup at Challenger Financial Services has taken another twist with the Lowy family's private investment vehicle, LFG Holdings, emerging as a substantial shareholder of the group, according to a newspaper report today.

PJF receives AA rating; van Eyk

Perpetual James Fielding (PJF), the joint venture between Perpetual and James Fielding Group, announced today it had received a AA rating - the highest rating given by van Eyk in the recent property securities manager review.

S&P affirms ANZ National Bank ratings

AAP  |  MONDAY, 28 JUN 2004
Standard & Poor's Ratings Services affirmed its AA-minus/Stable/A-1-plus counterparty credit ratings on ANZ National Bank following the statutory amalgamation of the National Bank of New Zealand (NBNZ) on 26 June, 2004.

ASIC to release paper on dollar disclosure rules

AAP  |  MONDAY, 28 JUN 2004
The investment watchdog will soon release a paper outlining its approach to new fee disclosure regulations, introduced by the government.

Brambles splits CHEP in two, division CEO leaves

AAP  |  THURSDAY, 24 JUN 2004
Brambles Industries has split its flagship CHEP pallet business in two, with the division's global chief executive Victor Mendes to leave in a week.