Property and mortgage manager closes shop
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian Financial Services (AFS) licence of Teys Property Funds Limited.
Teys is the responsible entity of 11 property and mortgage funds and has been in external administration under Adam Shepard since March 5.
ASIC’s decision was made after discussions with the external administrators of Teys to ensure the timing of the cancellation would not adversely impact investors in Teys’ managed investment scheme.
The cancellation of Teys Australian Financial Services licence is subject to a specification that it continues to the extent necessary to enable Teys to wind up its property and mortgage schemes.
Recommended for you
Schroders has appointed a new chief executive as Simon Doyle steps down from the asset manager after 22 years.
Distribution of private credit funds through advised channels to retail investors will be an ASIC priority for 2026 as it releases the results of its thematic fund surveillance and guidance for research houses.
State Street Investment Management has taken a minority stake in private market secondaries manager Coller Capital with the pair set to collaborate on broaden each firm’s reach and drive innovation.
BlackRock Australia plans to launch a Bitcoin ETF later this month, wrapping the firm’s US-listed version which is US$85 billion in size.
