Latest Financial Services News

Savana Asset Management marks the first anniversary of its Savana US Small Caps Active ETF (ASX, SVNP), reporting a strong 13.62% annualised return that outpaced its benchmark despite a volatile US market. The firm also reveals insights from a novel AI stress test highlighting current limitations of large language models in investment decision-making.

Suzerain Investment Holdings has extended its takeover offer for Entertainment Rewards Limited shares to 31 December 2025, holding over 87% of shares and urging remaining shareholders to accept promptly.

Australian Ethical Investment Limited (AEF) has responded to ASX inquiries about additional licence conditions imposed on its subsidiary, Australian Ethical Superannuation Pty Ltd (AES), asserting these do not materially affect its securities value despite a notable share price drop.

Wisr Limited has successfully closed its Share Purchase Plan, raising $1.22 million and reducing corporate debt by $7.5 million as part of a broader $10.6 million capital raise.

L1 Global Long Short Fund Limited has successfully completed its shortfall offer bookbuild, prompting a $62 million institutional placement at $1.63 per share, adding to a total raise of up to $415 million. Trading is set to resume immediately following the announcement.

Harmoney has secured a $15 million revolving debt facility from a major Australian bank, refinancing its previous loan at a significantly lower margin and underpinning future growth.

Bendigo and Adelaide Bank reveals a strategic acquisition of RACQ Bank’s retail portfolio and outlines a comprehensive AML remediation plan, positioning itself for growth and enhanced operational resilience.

Bendigo and Adelaide Bank has agreed to acquire RACQ Bank’s retail lending assets and deposits, expanding its customer base and enhancing geographic diversity. The deal is expected to be accretive to earnings and align with the bank’s 2030 return targets.

Cash Converters has completed a $37.1 million acquisition of 29 franchise stores across Australia’s East Coast, aiming to boost earnings and operational efficiency from year one.

Queste Communications reported a slight net cash outflow from operations in November 2025 but maintains robust liquidity supported by a substantial loan facility and liquid ASX-listed investments.

Microequities Asset Management Group delivered a robust November trading update, driven by strong returns in its Pure Microcap Value Fund and a final performance payment from a special purpose vehicle, pushing half-year profits above last year’s level.

QuickFee Limited has completed a $28.5 million capital return following the sale of its US Pay Now and Connect businesses, while updating its dividend policy to target regular shareholder cash distributions starting in FY26.