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Superannuation

NAB dividends appear safe, says analyst

AAP  |  FRIDAY, 26 MAR 2004
National Australia Bank's high dividends do not appear to be in danger despite the demands placed on the bank by APRA yesterday, according to one analyst.

Corporate, industry super funds at risk of fraudulent benefit claims

Corporate and industry superannuation funds face a growing risk of paying fraudulent benefit claims, according to KPMG's director of forensic Dean Newlan.

CFSI launches infrastructure fund

Australia's largest fund manager Colonial First State Investment plans to launch an infrastructure fund in the June quarter aimed at the wholesale market, the company said.

Advance and Maple-Brown Asset launch Asian equity fund

AAP  |  FRIDAY, 26 MAR 2004
Fund managers Advance Asset Management and Maple-Brown Abbott have launched a new Asian equity fund for retail and wholesale investors.

Elders Finance reports drop in profit

AAP  |  THURSDAY, 25 MAR 2004
Elders Finance reported operating profit before tax of $9.4 million for the six months ended December 31, 2003, down from the $10.8 million posted in the same period the year earlier.

APRA raised risk management concerns in January 2003

AAP  |  THURSDAY, 25 MAR 2004
Australia's banking regulator raised concerns about risk management at National Australia Bank with the bank's board in January 2003, according to a report out yesterday on the forex trading scandal at NAB.

Ratings agencies tend to lag market, according to researchers

AAP  |  THURSDAY, 25 MAR 2004
Although ratings agencies serve a purpose in assessing a company's long-term default risk, they tend to lag the market, reflecting information already priced in, according to researchers.

NAB dumps share buyback following APRA report

AAP  |  WEDNESDAY, 24 MAR 2004
National Australia Bank is to implement new capital adequacy initiatives and terminate a share buyback after the release of a report by the banking regulator today into a forex trading scandal at NAB.

DEWR skilled vacancies fall 0.2% in March

AAP  |  WEDNESDAY, 24 MAR 2004
Vacancies for skilled workers slipped 0.2% in March but remained 5.4% higher than the same time last year, official figures showed today.

Lend Lease sells US Value Enhancement Fund

AAP  |  WEDNESDAY, 24 MAR 2004
Lend Lease Corporation today announced that it had completed the sale of its Value Enhancement Fund management platform.