Another property investment business for sale
Asset Loans Group, an Australian Securities Exchange-listed finance and property investment business on the Gold Coast, is up for sale.
Prior to being put into administration, Asset Loans provided first and second mortgage loans and a small number of unsecured loans to property developers. The credit crisis and successive interest rate rises have impacted heavily on the property market, with companies such as City Pacific recording losses of $139 million in the last financial year.
The outcome of the sale program will be a key determinant in the eventual dividend to Asset Loans creditors.
The sale of the group includes developments in North Queensland, Hervey Bay, Port Kembla and Bowen Marina. The administrators of the Asset Loans Group, Deloitte’s John Greig and Richard Hughes, anticipate strong enquiries from trade and financial buyers.
Recommended for you
Ahead of the approaching end of the financial year, State Street has shared five tips for advisers who are using ETFs in their client portfolios.
The use of active ETFs in model portfolios by financial advisers is a key factor in the growth of the products for iShares, according to BlackRock.
Global asset manager BlackRock has identified bringing private markets to the wealth channel as a key business area for the firm that could generate US$500 million in revenue in the future.
Flows into cash and fixed income ETFs soared in May, rising from $366 million in April to more than $1.3 billion, data from Betashares shows.
