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Firm ASX debut for spun-off manager.(Australian Wealth Management starts trading on Australian Stock Exchange)(Brief Article)
Australasian Business Intelligence, February, 2005 by Trute, Peter
Feb 15, 2005 (The Courier-Mail - ABIX via COMTEX)
Fund manager Australian Wealth Management (AWM) was recently spun off from New Zealand life insurer Tower Group. On 15 February 2005, AWM made its debut on the Australian Stock Exchange. With a $A1 issue price, AWM finished the day at $A1.20. The stock opened at $A1.08 and hit a high of $A1.29. Andrew Barnes, the new CEO, said he was not surprised by the level of interest. He said he had wanted to put "quality Australian wealth assets" in a simple structure. The fund manager has about $A13.6 billion under management.
Publication Date: 16 February 2005
AUSTRALIAN WEALTH MANAGEMENT LIMITED
- ASX AUW:
TOWER LIMITED - ASX TWR:
TOWER TRUST LIMITED:
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