John Kavanagh
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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,…

ASIC signs off on updated banking code

The Australian Banking Association’s updated Banking Code of Practice has cleared its final hurdle, with ASIC announcing yesterday that it has approved the changes. The revised code will commence on March 1 next year. A new Banking Code of Practice…

Equity derivative fund to deliver 8 per cent yield

The hunt for yield is moving into exotic territory, with the launch of a fund that uses equity derivatives to deliver an 8 per cent return. Clime Investment Management’s Clime Income Enhancer Fund has been developed in partnership with US-based…

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. Next week, on December 18, we will publish our last issue of New Investor for 2019. We are…

APRA approves IOOF’s acquisition of OnePath

The Australian Prudential Regulation Authority has approved the sale of ANZ’s OnePath Pensions and Investments business to IOOF Holdings, bringing to a conclusion a transaction that has been in train for two years. In announcing its decision, APRA says IOOF…

ASIC says lenders should understand borrowers’ objectives

ASIC has placed greater emphasis on credit providers and brokers obtaining reliable and up-to-date information about consumers’ financial situations in meeting their responsible lending obligations. It also wants licensees to understand more about a borrower’s requirements and objectives. The regulator…

R&D tax incentives tightened

The Government has revived a bill that will limit access to R&D tax incentives, ignoring recommendations of the Senate Economics Legislation Committee in the process. Treasury Laws Amendment (Research and development Tax Incentive) Bill 2019 is a revised version of…

Compliance failures common in super fund advice to members

Less than half of the financial advice provided by superannuation funds to their members was fully compliant with advisers’ best interests duty and related obligations, a review has found. And a significant number of members were at risk of suffering…