New IPOs on ASX

New listings on the Australian Stock Exchange will exceed $10 billion over the next three months. Asian utility giants Singapore Power and Cheung Kong Infrastructure may list, while Burns Philp will spin out the Goodman Fielder food business. Fund managers are concerned about the quality of some listings, given the high overall price of the equities.

Bank West super fund

Bank of Western Australia will continue its assault on the Australian savings market with plans to launch a low cost superannuation product in 2006. Like the retail index fund the bank began to market last week, the super product will be sold directly to consumers, not through intermediaries and financial planners. The BankWest super fund will rival similar simple products such as Virgin Superannuation and Max Super.