Treasury Group moves towards listed option
TheTreasury Group has flagged the possibility of setting up a listed investment company to expand further into the financial services and boutique funds management sector.
A subsidiary of Treasury Group and a manager of discrete corporate portfolios, Armytage Private, recently underwrote a rights issue for former meat producer Blue Ribbon Holdings.
The shell of Blue Ribbon, which went into liquidation just over a year ago, could provide Treasury Group with the tool to create the listed entity in the future.
Lee Iafrate, chairman of Treasury Group, has taken on the role of chairman of the Blue Ribbon board, to be renamed Australian Value Funds Management.
The Treasury Group, which already has boutiqueInvestors Mutualand recent start-up Orion Asset Management sitting alongside Armytage Private, could either go down the path of setting up the listed company from scratch or use Blue Ribbon as a vehicle.
The group’s managing director Rodney Green says that creating the listed entity is one possibility that the group is considering to further its push into funds management.
“At some point it makes sense to one day have a listed investment company as a vehicle,” Green says.
“It is one other means of being able to tap into the retail market without going down conventional channels.”
Green says that each business under the Treasury Group will develop and pursue its own strategies, which could involve Blue Ribbon at some stage.
Treasury Group’s master plan, says Green, is to be involved in financial services and funds management through boutique groups.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
