Briefs

Perpetual fund shift

Fund manager Perpetual has allocated a fifth of its resources portfolio to offshore investments as it seeks attractively priced stocks amid global volatility and uncertainty. A year ago, more than 40 per cent of the fund's money was invested in Australia, but it had now fallen to about 20 per cent, with the majority invested in Europe, the United States and Canada.

HEALTH

Ramsay still upbeat

Europe's financial turmoil could inflict some pain on Ramsay Health Care's fledgling private hospital business on the continent, but the company remains committed to expanding there. The company told investors at its annual meeting it was hunting for more European acquisitions but was being extra cautious about splashing out.

CONSTRUCTION

Lend Lease win

Lend Lease has been selected by the East Perth Redevelopment Authority as the preferred company for the $1 billion East Perth Waterbank site redevelopment. The project, which will take 10 years to complete, is on a four-hectare precinct on the banks of the Swan River.

TRANSPORT

Open access pledge

The process to open up access to essential transport infrastructure such as ports and railways to parties other than their owners is being streamlined although more needs to be done, the Australian Competition and Consumer Commission said yesterday.