InvestorDaily

Aussie investors will soon have the opportunity to gain exposure to the world’s sixth-largest economy. ETF Securities has partnered with one of the biggest asset managers in India and is poised to give Australian investors unique access to the burgeoning Indian economy. The launch of ETF Securities’ latest Exchange Traded Fund (ASX code: NDIA) is just around the corner and comes as more than 900 million eligible voters head to the polls in India.

“The elections now underway in India underscore the huge numbers we are dealing with when it comes to the Indian economy, an investment opportunity we will soon be putting within easy reach of Australian investors,” said Kris Walesby, head of ETF Securities Australia. Founded by entrepreneur and philanthropist Graham Tuckwell, ETF Securities offers funds ranging across local and international share markets and sectors including robotics, biotechnology and commodities. “India has a US$2.6 trillion-dollar economy that is home to iconic companies like Tata and Infosys,” Mr Walesby said. “Its transformation to a services-led economy has driven innovation and efficiencies and the rise of a wealthier consumer.”

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The investment bank has provided a $100 million debt facility to Judo Capital as it prepares to take on the major banks. Credit Suisse provided $350 million in funding late last year to the business lender, which is lead by former NAB bankers Joseph Healy and David Hornery. Lawyers Ashurst advised on both facilities. The latest $100 million injection from Goldman is an important wholesale funding source for Judo as it progresses with its plans to be an authorised deposit-taking institution and expands its SME lending business.

Australians’ personal wealth has diminished according to Roy Morgan, with the market researcher finding the country’s gross personal assets – including owner-occupied homes – were at the lowest level of 2018 in the December quarter, dropping by 5 per cent from the previous quarter. The market researcher said Australians’ personal wealth came to $9.7 trillion for the final quarter, a drop of $512 billion from when it was $10.2 trillion in the September quarter. Net wealth (after debt) also decreased by 4.3 per cent to $8.6 billion from $8.9 billion, the survey found.

Westpac has announced its commitment to renewable energy by vowing to source the equivalent of 100 per cent of its global electricity consumption through renewable sources by 2025. Westpac is one of the the first among Australian companies to make this commitment, which will make them a member of RE100, an initiative led by The Climate Group to bring together businesses who commit to 100 per cent renewables. This decision by one of Australia’s largest companies comes at a time when the current coalition government has scrapped the carbon tax and has criticised renewable energy targets.