SelfWealth launches ETF
Online broker SelfWealth will launch a new ETF targeting self-managed super funds. The SelfWealth SMSF Leaders ETF is due to launch on the ASX this financial year and listed under the ticker code SELF. It is pending regulatory ASX approval. ETF Securities Australia and its parent company ETFS Capital are backing SELF by providing $100 million in seed funding. ETF Securities Australia will act as the responsible entity. SelfWealth chief executive Andrew Ward said SELF will be constructed using data from the best-performing investors among 50,000 SMSF portfolios. It will offer clients “a high-performing investment asset that complements portfolios constructed using the SelfWealth platform, and delivering a new revenue stream […]
Capify secures $135 million from Goldman Sachs for SME loans
Capify, a leading Australian alternative SME finance provider has secured a $135 million credit facility from Goldman Sachs Private Capital (“Goldman Sachs”) to support its future growth plans and provide working capital to thousands of Australian SMEs over the coming years. The Sydney-based fintech company will use the new facility to accelerate the growth of its lending business to Australia SMEs through its business loan and merchant cash advance (MCA) products. Capify has been active in Australia since 2008, executing over 7,500 transactions for Australian SMEs seeking business financing and most recently celebrated its ten-year anniversary. “This is a landmark achievement for Capify and we are very pleased that we […]
Australia’s first academy launches for businesses wanting to ride crowdfunding wave in 2019
Australian businesses will learn how to become crowdfunding champions – thereby helping to avoid an emerging ‘credit crunch’ – as part of a government-supported private academy to be addressed by two international experts. Sydney-based ReadyFundGo has launched a crowdfunding academy – which is the first of its type in the country – to operate across Australia during early February. The academy has received funding from the Australian Government’s Entrepreneurs’ Programme. The academy launch comes amid evidence that 2019 will be a turning point for the business crowdfunding sector, thanks to new regulatory changes, credit shortages and rising interest in the fundraising option. In October last year, the Australian Government commenced […]
More investors taking on smart beta ETFs
Research from VanEck reveals that investors are increasing their allocation towards smart beta ETFs, as opposed to market capitalisation and active strategies. Smart beta cumulative net flows as a percentage of total flows has grown from 11.7 per cent to 21.7 per cent between 2016 and 2018, according to VanEck’s ETF IQ Scorecard for December 2018. “By strategy, smart beta ETFs are gaining in popularity, now accounting for about one-quarter of all inflows at $1.6 billion over the year to date, as investors seek targeted investment outcomes and wealth-building strategies not offered by traditional ETFs, which track market capitalisation indices,” VanEck said. Meanwhile, net flow allocation to active exchange-traded products […]
ANZ Bank buys into online mortgage broker Lendi
ANZ Banking Group has taken a strategic stake in online home loans platform Lendi. Street Talk understands ANZ paid close to $40 million for a minority stake, to become Lendi’s second largest strategic shareholder behind fellow Australian financial services giant Macquarie Group. Importantly for Lendi, which has 37 banks and lenders on its open home loans platform, the business will continue to be run independently and at arms length to its strategic investors. ANZ will not be given a board seat, as consistent with Lendi’s treatment of Macquarie and other strategic investors including Pepper. It is understood ANZ agreed to write the cheque after spending much of last year talking […]
Xinja launches second equity crowdfunding campaign on Equitise platform
Pioneer Australian neobank Xinja today gives everyday Australians another chance to join the digital banking revolution by purchasing shares through leading equity crowdfunding platform Equitise. The raise – opened early to existing investors, customers and people who had registered interest – has passed the minimum of $500,000 in less than 9 hours. Xinja, a digital neobank designed entirely for mobile, last month received unprecedented expressions of interest when its second equity crowdfund to begin in early 2019 was announced on Equitise. With shares available from today on the Equitise platform, Xinja Chief Executive and founder Eric Wilson said he’s confident there will be early and consistent interest from investors who […]
Robo-advice growth a worldwide trend
A new survey reveals the robo-advisory is increasing in competition across both the Asia-Pacific and European markets. Research from data and analytics company GlobalData’s Wealth Managers Survey found that the robo-advisory market is increasing in competition globally, with more start-ups entering the wealth management industry year by year. According to GlobalData wealth management analyst Sergel Woldemichael, traditional wealth managers across the globe in previous years had a widespread level of agreement that robo-advice would seize market share. “However, as of 2018, the level of agreement that Asian-Pacific and European wealth managers will lose market share to robo-advisors is beginning to align,” Mr Woldemicheal said. To read more, please click […]
Long-dormant Bitcoin whales resuming activity could rock price action, analysts say
The number of active Bitcoin (BTC) wallets, many of which have long been dormant, has seen an uptick that could herald some major market movements, Bloomberg reports Jan. 11. Bloomberg bases its report on data and analysis from crypto analytics startup Flipside Crypto, which sealed the backing of major crypto exchange Coinbase and veteran crypto venture capital firm Digital Currency Group (DCG) back in November. According to Flipside, as of Oct. 2018, a high number of long-inactive Bitcoin holders — defined as those that haven’t transferred their Bitcoin for between six and thirty months — have begun to transfer their coins, resulting in wallets active over the past month now […]
