Industry news

Metrics follows up NB credit fund raise

For the second time in a week a listed credit fund has launched a capital raising, underlining the popularity of the sector in a yield hungry market. Metrics Credit Partners’ MCP Master Income Trust aims to raise up to $638…

CML takeover battle nears resolution

Commercial finance company CML Group, which has been juggling competing takeover offers since December, says it will provide some clarity in a statement next week. CML has received offers from commercial finance broker Consolidated Operations Group and rival finance company…

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…

Move over robo; advice goes ‘bionic’

HUB24 and Aberdeen Standard Investments (ASI) have partnered to launch ‘bionic’ advice tools in response to the adviser demand to service a wider range of clients more effectively. According to HUB24, around 41 per cent of Australians intend to get…

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…

Special resolutions on the rise at AGMs

An increasing number of investors are using the annual general meetings of ASX-listed companies to have their say about climate change and other issues, according to new research. Macquarie Securities reveals that there has been an increase in the number…

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…