Latest Financial Services News

Pioneer Credit has completed a $14.4 million purchase of a debt portfolio with a $206 million face value under a new three-year agreement with one of Australia’s major banks. The deal expands its institutional pipeline, but does not guarantee further acquisitions and will not generate cash collections before February 2027.

ARC Funds has acquired a 3% stake in Ausbiz Wealth using proceeds from a $250,000 share placement, but ended September with just $265,000 in cash and no undrawn facilities. The company says it plans to raise further capital while an $800,000 related-party loan matures on 31 December.

Rivco Australia has reported a 1.2% quarterly decline in pre-tax NAV as softer water entitlement values offset the benefits of a more heavily leased portfolio. The company is shifting dividends towards operating earnings, while continuing its buyback at a substantial discount to NAV.

Butn has extended its MYOB invoice finance agreement to November 2027, while assessing seven confidential, non-binding offers for the whole or parts of the group. The company is also negotiating changes to its Northleaf finance facility amid challenging operating conditions.

Sequoia Financial Group reported a sharp first-quarter revenue decline and pretax loss as authorised representatives left its InterPrac licence. Cash rose to A$11.4 million, but the balance was bolstered by the sale of Centrepoint Alliance shares while ASIC continues to question documentation linked to the InterPrac exit.

Clime Investment Management delivered a 57% rise in FY26 net profit and lifted funds under management and advice by 9.4% in the September quarter. But additional valuation work on private credit and unlisted assets has delayed the audit process and payment of the performance fee.

InvestSMART is moving closer to a proposed $16 million cash sale of Intelligent Investor, while quarterly operating income edged higher and funds under management fell to $734 million. The transaction still requires shareholder approval and remains subject to completion adjustments.

Aland Equity Group has launched its first property fund, targeting $4.1 million in management fees and investment returns from 56 Bungendore lots. But the ASX-listed funds manager ended September with $1.96 million in cash and only 1.83 quarters of estimated funding at its reported burn rate.

Raiz Invest delivered solid Q1 FY27 growth, with funds under management rising 20.2% to $2.40 billion and customer numbers reaching 354,202. But the fintech still cannot reliably quantify the potential impact of historical tax matters now under expert and regulatory review.

Powerhouse Ventures lifted quarterly pre-tax operating profit 46% to A$340,000 despite difficult microcap conditions, while completing three advisory transactions and launching its first private venture product. The investment house ended September with A$1.40 million in cash, A$5.75 million in listed assets and an estimated six quarters of funding.

Novatti’s AU/NZ quarterly transaction value rose to $1.2 billion, but regulatory disruption to international BPAY payments pushed revenue lower and left Cash EBITDA negative. The company is targeting an early 2027 relaunch while relying on pipeline conversion and product mix improvements to support its next phase of growth.

Barramundi’s portfolio suffered its worst reported year in decades, with a NZ$42.9 million loss and an adjusted NAV return of -18.2% against a 9.2% benchmark gain. The board is negotiating a new management agreement with Fisher Funds while imposing tighter diversification and risk limits.