John Kavanagh
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What lies ahead for CBA

Analysts were pleased to see Commonwealth Bank report earnings that were above consensus forecasts but the better than expected result was not enough to prompt any of them to give the bank a ratings upgrade. CBA remains in a neutral/underperform/hold…

Credit specialist launches corporate debt fund

Specialist credit fund manager, Metrics Credit Partners, is entering the listed trust market, with a fund that offers high income returns from a portfolio of Australian corporate debt. MCP Master Income Trust (ASX: MXT) will be the first LIT to…

Microcap managers beat their benchmark

The microcap sector of the Australian sharemarket was a happy hunting ground for active fund managers in 2016/17. While active managers struggled to beat their benchmarks in a number of investment markets last financial year, the majority of microcap managers…

ASIC warns SMSF trustees to work with independent auditors

The Australian Securities and Investments Commission is toughening its stance on SMSF auditor independence, disqualifying the second auditor in two months for not meeting independence requirements. ASIC issued a reminder to trustees of self-managed superannuation funds that they must use…

Qintis bondholders join shareholders in limbo

Sandalwood plantation owner Qintis has missed an interest payment on its senior secured notes, which was due to be paid on August 1. In a statement to the Australian Securities Exchange last week, Qintis said it had until August 30…

CommBank on track for $9.8 billion profit

Commonwealth Bank shareholders have spent the past few days absorbed by reports of a massive failure by the bank to detect and report anti-money laundering behaviour, but on Wednesday attention will turn to the 2016/17 financial report. Analysts are expecting…

LRBA rule change still on the cards

The status of limited recourse borrowing arrangements in the new superannuation balance cap regime is at the top of the list of queries financial advisers have for the technical experts at wealth management companies. BT Financial Group technical consultant, Tim…

Global investing with conviction

International equity specialist VGI Partners has launched a prospectus for a new listed investment company, VGI Partners Global Investments Ltd, offering retail investors access to the high conviction, long-short portfolio it has managed for high net worth investors since 2009.…

Residential property market headed for a ‘slow unwind’

The “base case” for the Australian residential property market is that prices will continue to be supported, while the current economic conditions prevail, according to S&P Global Ratings. S&P held a property sector briefing in Sydney last week, where the…

Q&A 7 August 2017

Q: I have seen criticism recently of the Association of Superannuation Funds of Australia’s estimates for what retirees will need to live on in retirement. Are the ASFA figures reliable and what other data is available? A: According to ASFA’s…