Traders, data, machine learning will boost returns: Liquidnet
Fund managers are leaving returns on the table by not involving their traders in key investment decisions and seeking to harness more data sources, artificial intelligence and machine learning. That is the view of Liquidnet’s global chief executive Seth Merrin, who believes “traders are the largest source of untapped alpha” in a portfolio manager’s arsenal. “State-of-the-art in research right now is still the spreadsheet… that’s very static,” Mr Merrin said in an interview, adding that traditional research processes needed a shake-up. “There is an enormous amount of data if you can sift through if you have the right technology. “We are not talking about robotics, we are talking about machine […]
MYOB receives non-binding $2.2b takeover bid from KKR
Accounting software company MYOB has received an unsolicited, non-binding takeover bid from New York-based private equity firm KKR, valuing the business at just under $2.2 billion. The cash proposal for $3.70 per share, which was first flagged by Street Talk, represents a 24 per cent premium to MYOB previous closing price of $2.98 per share. On an enterprise value basis (factoring in net debt and an adjustment for its share buyback), the deal is valued at $2.6 billion. The non-binding proposal is conditional on a range of factors including the unanimous recommendation of MYOB’s board, confirmation of confirmatory due diligence on KKR’s part and obtaining debt financing on acceptable terms. MYOB […]
Australians are turning to robo-advisers to boost their returns
Investors hunting for decent returns on their hard-earned cash are looking at other options outside of parking their money in the bank. Interest rates on term deposits and online savings accounts remain around 1 to 2 per cent while the value of Australian sharemarket has climbed by 9 per cent over the past 12 months. Shares have also paid dividends averaging a healthy 4 per cent. Accountant Guy Bane, 29, said he was always looking to diversify his investments and he had steered clear of keeping cash in the bank. Instead he used robo-adviser Stockspot to do the hard work for him. “I’m trying to build a bit more wealth […]
Perth Mint’s GoldPass app for tech-savvy Gen Y traders
Perth Mint boss Richard Hayes hopes the State-owned entity can attract tech-savvy millennials with its new gold trading smartphone app. GoldPass is a secure investment platform that allows people to buy, store and sell gold and transfer the precious metal to others via digital certificates with real time settlement. The digital certificates are backed by physical gold stored at the Perth Mint and its network of central bank-grade vaults. There are no storage fees but the mint makes money via brokerage fees ranging from 0.2 and one per cent depending on the size of the transaction. Mr Hayes said the mint already had a solid customer base, generally made up […]
Fintech Investment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018-2025
Global Fintech Investment Market to reach USD 152.94 billion by 2025. Global Fintech Investment Market valued approximately USD 39.6 billion in 2017 is anticipated to grow with a healthy growth rate of more than 18.40% over the forecast period 2018-2025. The growth of an alternative business model that can both replace and complement traditional payment practices is a key growth driver for the fintech market growth. Major banks are helping to incubate, invest in, or partner with FinTech companies. For instance, Oradian, a software provider caters to organizations that offer financial services to low-income individuals. Oradian develops core systems that help microfinance institutions manage their clients efficiently and facilitates day-to-day […]
Netwealth releases open-source advice toolkit
Platform provider Netwealth has launched a new open-source toolkit for advice businesses that is focused purely on innovation. Part of the first release of Netwealth’s Innovation Toolkit is the Customer Journey Map workshop, focused on the customer experience and journey, putting employees in the shoes of clients through a series of team activities. Netwealth joint managing director Matt Heine said its Innovation Toolkit is about providing advice businesses access to a range of materials and tools so they can facilitate workshops in their own office. “This is a simple toolkit that provides businesses with a framework to identify friction points in the customer experience and develop implementable solutions to address […]
New SMSF admin offering hits market from fintech firm
A fintech firm has developed a new platform which provides SMSF establishment and ongoing administration services. The financial technology platform, called Selfmade, was developed by former Macquarie investment banker Robin Huender and MoneyMe Financial Group chief executive Clayton Howes. Selfmade is an online platform allowing users to establish and monitor the performance of their SMSF while admin and tax returns are taken care of in the background. “Selfmade has built its platform with integrations to Class and Macquarie. The platform targets SMSF trustees and members that might otherwise be handled by less tech-enabled accountants and administrators,” said the fintech firm. To read more, please click on the link below… […]
Bank Of Queensland backs solar panel lender Brighte
Brighte, a buy-now-pay-later platform for home energy backed by Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar, has secured a $15 million debt facility with Bank Of Queensland that takes its total facilities to $45 million. Of the 11,000 payment plans worth $90 million approved by Brighte since it started lending in October 2016, 94 per cent have been for renewable home energy equipment such as solar panels and batteries. The facility with BOQ’s finance division adds to a facility with National Australia Bank, which has just been extended from $20 million to $30 million. It would allow Brighte to expand its interest-free lending into associated areas such as air conditioning […]
