John Kavanagh
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Credit funds on a roll

Investment manager Neuberger Berman hopes to capitalise on strong demand for listed credit income funds, launching an offer of new units in its NB Global Corporate Income Trust. The offer, an entitlement offer and a shortfall offer, is targeting a…

ASIC sets out DDO ‘product governance framework’

The Australian Securities and Investments Commission has been working on the new design and distribution obligations over the summer, issuing draft guidelines that set out the “product governance framework” that issuers and distributors will have to put in place. Under…

Tax deferral for bushfire victims

The tax office has extended its assistance measures for people affected by bushfires. Around three and a half million businesses, individuals and self-managed super fund trustees in impacted local government areas will have until May 28 to lodge and pay…

Court delivers mixed outcome for licensee over planner misconduct

Westpac has been held liable for the failure of one of its representatives to comply with their best interests obligations, in a court ruling handed down late last year. The bank was unsuccessful in arguing that the misconduct represented just…

Yellow Brick Road completes wealth divestment

Yellow Brick Road has sold the last part of its wealth business and is now operating as a specialist mortgage business. The company announced late in December that it had entered into a sale agreement with Sequoia Financial Group in…

Millenials want investment advice on an app

Online services and mobile apps are so embedded in the lives of young adults that they expect all their financial services to be delivered that way, according to new research. Funds network operator Calastone surveyed more than 3000 people aged…

Government clarifies which tax debts can be reported

The Government has followed up the passage of legislation allowing the tax office to release details of tax debts to credit reporting agencies, with the release of a tax administration declaration that spells out the taxpayers who will be affected…

No answer to chronic LIC price discounts

Listed Investment company Monash Absolute Investment Co (MA1) plans to turn itself into a unit trust, after trying everything to close its wide price-to-NTA gap. The restructure is designed to address “a large discount to the net tangible asset value…

New Investor has transformed to Inside Adviser

When you see our publication in your inbox or social media feed in the New Year it will have a new name. This is our last issue of New Investor for 2019. We are taking a few weeks off and…

Sea change in equity capital raising

There is a significant change underway in the way listed companies raise capital. The entitlement offer is making way for institutional placements combined with share purchase plans. Compared with entitlement offers, placements are quick and relatively cheap to arrange. However,…