Equiti launches new ownership structure
Equiti Funds Management has launched a new ownership structure that will see financial planners hold a share in its property funds management business.
Following the launch of its Equiti Diversified Property Fund last month, Equiti will “peel off” 10 per cent of its funds management business, according to Equiti executive director Darren Wise.
In return for the equity, planners will not be required to contribute funds. Instead, they will be asked to support the issue of Equiti’s wholesale units into the market, Wise said.
He believes the offer will suit boutique licensees looking to diversify their business with a product ownership.
AUTHOR
Corrina Jack
Recommended for you
Centrepoint Alliance has the opportunity to sneak up from behind while the three major licensees are distracted as chief executive John Shuttleworth tells Money Management that it aims to “be stable in a sea of turmoil”.
The financial advice profession has seen double-digit adviser losses over the past week, including six advisers who departed Australia’s largest advice licensee.
Regal Partners has grown funds under management to $12.2 billion and flagged it may consider smaller bolt-on acquisitions, having withdrawn a bid last year for Pacific Current Group.
BT is offering its first private markets managed account on the BT Panorama platform as interest in alternatives grow among high-net-worth investors.
