The volatility of international equity, interest rate and currency markets has the potential to significantly alter the value of the funds' assets.

Global steel prices are simply unsustainable.

For Patrick, it's great for shareholders because it should see them garner a higher price.

It's a very appropriate price for Patrick. Toll is going to become a very powerful player in the industry.

And our market is being helped by a bounce in commodity prices, after they were heavily sold off in the past few weeks.

Funds management has been a standout, but is as expected, given the strong investment markets. Business lending is also strong and has slightly offset weakness in Westpac's home-lending segment.