City Pacific chips away at debt block
The City Pacific First Mortgage Fund has reduced its debt obligations by a further $8.2 million, takings its bank facility to approximately $120 million.
This represents a halving of its debt obligations reported in January this year, which then stood at $240 million.
According to City Pacific company Secretary, James Finucan, loan repayments made to the fund over the past six months have allowed the fund to continue to repay its bank facility while also allowing for the completion of projects in order to preserve the value of the fund.
Recommended for you
While M&A has ramped up nationwide, three advice heads have explored Western Australia’s emergence as a region of interest among medium-sized firms vying for growth opportunities in an increasingly competitive market.
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
EY has broken down which uses of artificial intelligence are presenting the most benefits for wealth managers as well as whether it will impact employee headcounts.
Advice licensee Sequoia Financial Group has promoted Sophie Chen as an executive director, following her work on the firm’s Asia Pacific strategy.
