News

The green finance market, similar to almost every other aspect of 2020, was shaped by the COVID-19 pandemic. According to Calvert Research and Management, in the first half of the year, alternative forms of sustainable finance flourished as both governments and corporations sought to combat the effects of the...

After successful bond issues by Western Sydney University (WSU) and University of Wollongong (UOW) late last year, the University of Melbourne is the first Australian corporate to issue a bond in 2021. The 10-year fixed rate bond has a coupon of 1.97%p.a. and raised $150 million. Despite being hit by covid...

Embattled Chinese e-commerce giant Alibaba Group will this week look to commence raising between US$5 to 8 billion in a bond issue as it continues to be pressured by regulators and rival players. First reported by Reuters, the company was expected to use the funds for general corporate expenditure including...

Frank Uhlenbruch, Investment Strategist in the Janus Henderson Australian Fixed Interest team, provides his Australian economic analysis and market outlook. Market review Despite ongoing COVID-19 outbreaks, the commencement of vaccination programs and another round of fiscal easing in the United States helped buoy investor sentiment. Equity markets had another strong month,...

On Friday, ASIC announced it had commenced civil penalty proceedings against La Trobe Financial Asset Management Ltd in its capacity as responsible entity for the La Trobe Australian Credit Fund. ASIC alleges that La Trobe marketed the fund in ways that were misleading or deceptive, citing customers that wished to...

In the last week, the market has continued to surprise us, with three milestones. Australian Government bonds for the first time ever sold at negative yields. When government bonds first come to market, the AOFM announce a new issue, the amount they hope to raise along with the term and...

Challenger Limited (ASX:CGF) has appointed Equity Trustees as note trustee for its Challenger Capital Notes 3, a new subordinated, unsecured, perpetual convertible security, which raised A$385 million. Challenger issued Challenger Capital Notes 3, on 25 November 2020,  which are listed and tradeable on the ASX. The proceeds from the offer...

Aberdeen Standard Investments is withdrawing three Australian fixed income funds from the market as it “...has decided to cease the management of Australian fixed income products for Australian clients, as part of a strategic reconfiguring of the business," according to a statement from the company. The three Aberdeen funds that...

Alternative credit manager CIP Asset Management (CIPAM) has entered the retail fixed income funds management market, with the launch of a retail version of the CIPAM Credit Income Fund. CIPAM was formerly known as Challenger Investment Partners before rebranding earlier this year. The CIPAM Credit Income Fund is a floating rate, multi-sector credit...

Both Victoria and New South Wales have lost their AAA credit ratings after global rating firm S&P today downgraded both states' rating due to COVID-19 impacts. S&P Global cut its long-term rating on Victoria two notches to “AA/Stable” from “AAA/Watch Negative” citing a weaker fiscal outlook. S&P said that Victoria is...