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Superannuation

NAB adds A$57 million NZ tax bill to woes

National Australia Bank faces a possible tax bill of up to NZ$212 million (A$184.8 million) from New Zealand tax authorities after receiving a bill for NZ$57 million relating to its Bank of New Zealand unit.

IML to close fund

Investors Mutual (IML) has announced it is closing its Future Leaders Fund to new investors on May 31, following rapid growth over the two years since its inception.

AMP pays top nine execs $18 million during 2003

AMP's top nine executives received a combined $18 million in 2003, according to the company's annual report issued yesterday.

S&P assigns AA rating to GE Mortgage Insurance

Standard & Poor's said yesterday it had assigned its AA insurer financial strength rating to Australian-based GE Mortgage Insurance.

ASA calls for independent to chair NAB EGM

AAP  |  THURSDAY, 1 APR 2004
The Australian Shareholders Association (ASA) wants an independent person to chair the bank's extraordinary general meeting which has been called to dump dissident director Cathy Walter.

ASX Perpetual acquires Pitcher Partners

AAP  |  THURSDAY, 1 APR 2004
ASX Perpetual Registrars said it had acquired the Queensland share registry business, Pitcher Partners.

Safer superannuation savings: Coonan

AAP  |  THURSDAY, 1 APR 2004
Australians' superannuation savings became a little safer yesterday when the Senate passed laws to safeguard the retirement nest eggs.

Nine top AMP executives pocket combined $18 million pay in 2003

AAP  |  THURSDAY, 1 APR 2004
AMP's top nine executives pocketed a combined $18 million in 2003, a year in which the wealth management company presented shareholders with a massive net loss of $5.5 billion.

ASX corporate governance still misunderstood: report

AAP  |  THURSDAY, 1 APR 2004
The body overseeing the adoption of corporate governance rules in Australia still believes the thrust of the guidelines remains misunderstood by many in the business community.

Zurich launches new managed equity fund initiative

AAP  |  WEDNESDAY, 31 MAR 2004
Zurich Financial Services has launched a new managed equity fund initiative designed to meet the specific needs of its investors more effectively.