Briefs

Perpetual shifted a significant portion of its resources portfolio offshore, allocating about a fifth of the fund to overseas investments. A year ago more than 40% of the fund was invested in Australia, but that has fallen to roughly 20% as the manager seeks attractively priced stocks amid global volatility and uncertainty.

Perpetual has moved the bulk of the fund's offshore allocation into Europe, the United States and Canada, reflecting the manager's search for attractively priced opportunities outside Australia.

Perpetual's move signals the manager's view that better-priced opportunities currently exist overseas. For everyday investors, that can mean the fund will have more exposure to markets in Europe, the US and Canada as it pursues value amid ongoing global volatility and uncertainty.

Ramsay Health Care acknowledged that Europe's financial turmoil could cause some pain for its fledgling private hospital business on the continent, but the company remains committed to expanding there. Management told investors it is hunting for more European acquisitions while being extra cautious about committing capital.

Ramsay's stance shows it is committed to growth in Europe but is exercising caution before making further purchases. That suggests management is balancing expansion ambitions with prudence given the uncertain financial backdrop in parts of Europe.

Lend Lease was selected by the East Perth Redevelopment Authority as the preferred company for the $1 billion East Perth Waterbank site redevelopment. The 10-year project covers a four-hectare precinct on the banks of the Swan River, making it a substantial, long-term urban development contract for Lend Lease.

The East Perth Waterbank redevelopment is expected to take 10 years to complete. It is a $1 billion project on a four-hectare precinct along the Swan River, and Lend Lease has been named the preferred developer by the East Perth Redevelopment Authority.

The Australian Competition and Consumer Commission said the process to open up access to essential transport infrastructure such as ports and railways to parties other than their owners is being streamlined, but more work is still needed. For investors, that indicates regulatory focus on improving competition and access in transport infrastructure, which could influence owners and users of those assets over time.