Blue Sky launches on ASX
Recently listed Blue Sky Alternative Investments Limited debuted on the Australian Securities Exchange (ASX) this week after successfully raising $6.47 million in its pre-Christmas Initial Public Offering (IPO).
The fund manager, which is dedicated to investments in alternative asset classes including private equity, private real estate, hedge funds and commodities, has a market capitalisation of $32.5 million.
Commenting on the market debut, Blue Sky founder and managing director Mark Sowerby said the listing had represented the next logical step for the company.
"The timing for us could not be better as Australia is increasing investment allocations to alternative assets in line with global trends," he said.
"As the only listed fund manager in this sector, we are well positioned to capture additional fund inflows and expand distribution both domestically and internationally," Sowerby claimed.
"Becoming a publicly listed company marks a major milestone in our goal to become Australia's leading alternative investment fund manager."
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
