Investment Banking News

Investment Banking News

Australia ranked among the least attractive for green investing

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

Less than 2 per cent of Australia’s recovery spending was directed towards green initiatives. Major global investor groups are calling on Australia to improve its climate policies and attract more green investment. Australia was ranked alongside Argentina, India, Indonesia, Mexico, Russia and Saudi Arabia as one of the least attractive countries for green investment in the G20 Countries’ Climate Policy Report Card.

Released by the Asian Investor Group on Climate Change (AIGCC), Ceres and the Investor Group on Climate Change (IGCC), the report card analysed the progress of G20 countries towards five ‘priority actions’ previously released as part of the Global Investor Statement to Governments on the Climate Crisis, including stronger 2030 emissions targets, a commitment to net zero and mandatory climate risk disclosure. AIGCC and IGCC CEO Rebecca Mikula-Wright said that investors understood that climate risk is investment risk.

The rest of this article can be found at investordaily.com.au.

86 400 CEO announces departure

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

The CEO of 86 400 is departing “in the new year”, just four months after NAB snapped up the neobank for $200 million. In an announcement made via his personal LinkedIn page, the CEO of 86 400, Robert Bell, confirmed he will be stepping down in the new year with “an enormous amount of pride in what the team have been able to build together”. “With NAB’s full support and Ubank/86 400 coming together next year, I’ll be following the future success from the sideline,” Mr Bell confirmed.

Mr Bell will be replaced by Philippa Watson, chief executive of UBank, who has been appointed CEO across both businesses. The changes coincide with the transfer of 86 400’s banking business onto NAB’s licence, just months after the big four purchased the neobank for $200 million. NAB declared its intentions to buy the two-year-old 86 400 in January, with plans to merge the neobank with its own digital subsidiary, UBank.

The rest of this article can be found at investordaily.com.au.

Climate change transition risk impacts sovereign bond markets

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

With ESG and climate change increasingly front of mind for global investors in all asset classes, a new study from UTS Sydney, Ardea Investment Management and Fortlake Asset Management drills down and challenges the argument that climate change is not being factored into sovereign bond markets bond yields and spreads. The research paper notes that existing studies have focused on the physical risk of climate change and that, until now, there has been relatively little research on climate change transition risk and its impact on sovereign borrowers. Climate transition risks arise during a country’s process of adjustment towards a green economy.

This new research looks at the pace of climate change transition risk using risk variables which can be mapped to specific SDGs – carbon dioxide emissions, natural resources rents and renewable energy consumption. These variables highlight the ways in which a country can influence the way investors analyse creditworthiness through appropriate climate strategy and policy. As Dr Kylie-Anne Richards of UTS Sydney notes: “these transition risks have an immediate impact and can shape the formulation of climate policy”.

The rest of this article can be found at investordaily.com.au.

Melbourne-based fintech raises US$200m in latest capital raise

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

Airwallex, a Melbourne-based global payments platform fintech, announced that it raised a further US$200 million following an oversubscribed Series E financing round, increasing the company’s valuation to US$4 billion. This latest round of funding was led by Lone Pine Capital, flanked by new investors G Squared and Vetamer Capital. Alongside them came further funding from existing investors including the likes of 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China. “We are excited to welcome Lone Pine Capital and our new Silicon Valley investors,” said Jack Zhang, co-founder and chief executive at Airwallex.

“Their wealth of experience, foresight and successful industry track records are a significant validation of our business and global growth strategy.” It was said the investment will continue to support the company’s global expansion, alongside stimulating progress in product development initiatives and catalysing growth in its sales and commercial teams. As a result, Airwallex will use the opportunity afforded by the additional funding to expand its offerings for SMEs and larger enterprises.

The rest of this article can be found at investordaily.com.au.

Pinnacle returns to ASX 200, announces acquisition

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

Pinnacle Investment Management is back on the S&P/ASX 200 and has announced its intentions to acquire a further 10 per cent stake in Coolabah Capital Investments. As of September 20, Pinnacle will return to the S&P/ASX 200, after losing its spot on the benchmark index over a year ago. Just last month, Pinnacle revealed its full-year net profit surge of 108 per cent to $67 million. And on Monday, the company yet again unveiled big news noting its intention to fully underwrite the dividend reinvestment plan (DRP) for the financial year 2021 final dividend.

The funds raised, it said in an ASX filing, will be primarily used to acquire a further 10 per cent of Coolabah Capital Investment. Based on historical DRP participation rates, the company confirmed it expects to raise approximately $32 million in total. The extra 10 per cent will take Pinnacle’s stake to 35 per cent.

The rest of this article can be found at investordaily.com.au.

Banks’ profitability soars

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

The banks have had an exceptionally strong financial year 2020-21, with industry profitability surging by over 20 per cent compared to a year earlier. According to APRA’s latest release, authorised dept-taking institutions (ADI) experienced a 23.5 per cent lift in net profit after tax to $32.3 billion at the end of June 2021, confirming the industry’s resilience amid the COVID-19 pandemic. Total assets edged up 1.0 per cent to $5,382.7 billion, while the ADI’s total capital base added 11.5 per cent to $387.1 billion.

However, despite holding strong capital and liquidity positions, along with improved profitability, the Australian Prudential Regulation Authority (APRA) noted that the outlook for ADI’s appears uncertain given the challenges currently faced by the industry from the Delta variant of COVID-19 and ongoing lockdowns. In residential mortgage lending, in particular, APRA noted that the share of new lending with high debt-to-income ratios increased over the quarter, continuing to be influenced by the low-interest rate environment and increasing house prices. In fact, residential mortgages increased 4.7 per cent to $1,935.2 billion, with owner-occupiers making up the bulk of the total sum or $1,234.1 billion – up 8.7 per cent on the year.

The rest of this article can be found at investordaily.com.au.

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