Business Services Industry
Axa funds load up on QBE, Zinifex and PaperlinX.
Australasian Business Intelligence, October, 2006
Byline: Richard Hemming
Oct 16, 2006 (The Australian Financial Review - ABIX via COMTEX) -- Axa Asia Pacific has increased its holdings in QBE Insurance through its fund manager, Alliance Bernstein. It now has a 7.5 per stake in the Australian insurance group. The stock has gained 35.6 per cent over the past year, closing at $A24.20 on 16 October 2006. Axa has also raised its stakes in Zinifex and PaperlinX. On the selling side, MIR Investment Management took advantage of Promina's higher share price following news of a takeover offer by Suncorp-Metway. It sold about $A13 million worth of Promina shares on 13 October and is no longer a substantial shareholder.
Publication Date: 17 October 2006
AXA ASIA PACIFIC HOLDINGS LIMITED - ASX AXA...
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