K64 Auxiliary Finance and Insurance Services

Yield reputation lives, even as growth slows

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Original article by Vesna Poljak, James Eyers
The Australian Financial Review – Page: 35 : 29-Oct-15

Australia’s top listed companies paid a total of $A79bn in dividends for the 2014-15 financial year. Brokers now expect the total payout for 2015-16 to be $A81bn, compared with a consensus forecast of $A85bn following the August 2015 reporting season. Dividend payouts in the banking sector remain strong, but a number of companies in the energy sector have reduced their dividends in the wake of the downturn in the crude oil price.

CORPORATES
WOODSIDE PARK STUD PTY LTD, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, MYER HOLDINGS LIMITED – ASX MYR, BHP BILLITON LIMITED – ASX BHP, STANDARD AND POOR’S ASX 200 INDEX, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, EUROPEAN CENTRAL BANK, BANK OF JAPAN

Link shares jump 11.5pc on ASX debut

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Original article by Sally Rose
The Australian Financial Review – Page: 17 & 22 : 28-Oct-15

Shares in superannuation administration services provider Link Group were issued at $A6.37 apiece in a $A946.5m IPO. The stock ended its first day of trading 11.5 per cent higher at $A7.05, after listing at $A7.10. Investors Mutual’s Anton Tagliaferro says Link was attractive to investors due to the limited growth opportunities in the domestic market at present. Meanwhile, Link CEO John McMurtrie has flagged offshore acquisitions to expand its footprint beyond Australia and New Zealand.

CORPORATES
LINK ADMINISTRATION HOLDINGS LIMITED – ASX LNK, INVESTORS MUTUAL LIMITED, PACIFIC EQUITY PARTNERS PTY LTD, INTERMEDIATE CAPITAL GROUP PLC, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, ASX LIMITED – ASX ASX, SUPERPARTNERS (AUSTRALIA) PTY LTD, AUSTRALIANSUPER PTY LTD, PILLAR ADMINISTRATION, COLLINS FOODS LIMITED – ASX CKF, KFC, SIZZLER RESTAURANTS AUSTRALIA LIMITED, AMP LIFE LIMITED, JP MORGAN AUSTRALIA LIMITED, BNP PARIBAS ASSET MANAGEMENT (AUSTRALIA) LIMITED, HSBC AUSTRALIA HOLDINGS PTY LTD, CITICORP GROUP PTY LTD, MACQUARIE CAPITAL PTY LTD, DEUTSCHE BANK AG

Global mergers and acquisitions on track for best year ever

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 30 : 27-Oct-15

Citigroup notes that some $US3.1trn worth of mergers and acquisitions have been announced globally so far in 2015. Citigroup believes there is potential for 2015 to eclipse 2007 as the biggest calendar year on record in terms of global M&A activity. The Citigroup reports notes that M&A activity is 38 per cent higher than at the same time in 2014, including year-on-year growth of 54 per cent in Asia, central Eastern Europe and the Middle East.

CORPORATES
CITIGROUP INCORPORATED, ANHEUSER-BUSCH INBEV SA/NV, SABMILLER PLC, ROYAL DUTCH SHELL PLC, BG GROUP PLC, HJ HEINZ COMPANY, KRAFT FOODS INCORPORATED, BEACH ENERGY LIMITED – ASX BPT, DRILLSEARCH ENERGY LIMITED – ASX DLS, WOODSIDE PETROLEUM LIMITED – ASX WPL, OIL SEARCH LIMITED – ASX OSH, SANTOS LIMITED – ASX STO, SCEPTER PARTNERS, KING AND WOOD MALLESONS, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD

Some growth stocks overpriced, warns UBS

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 31 : 27-Oct-15

TPG Telecom and Domino’s Pizza Enterprises are among the companies that have been added to UBS Australia’s list of "quality growth" stocks. The stocks on this list delivered a total return of 21.5 per cent in the year to 14 October 2015, compared with a return of 10.2 per cent for the S&P/ASX 100 ex-resources index. David Cassidy of UBS notes that stocks on the firm’s list have a median price-earnings ratio of 20.5 times.

CORPORATES
UBS HOLDINGS PTY LTD, TPG TELECOM LIMITED – ASX TPM, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, CSL LIMITED – ASX CSL, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, SEEK LIMITED – ASX SEK, DULUXGROUP LIMITED – ASX DLX, CARSALES.COM LIMITED – ASX CAR, RESMED INCORPORATED – ASX RMD, RAMSAY HEALTH CARE LIMITED – ASX RHC, COCHLEAR LIMITED – ASX COH, REA GROUP LIMITED – ASX REA, ASX LIMITED – ASX ASX, TATTS GROUP LIMITED – ASX TTS, TABCORP HOLDINGS LIMITED – ASX TAH, MACQUARIE WEALTH MANAGEMENT, HEALTHSCOPE LIMITED – ASX HSO, SONIC HEALTHCARE LIMITED – ASX SHL, COVER-MORE GROUP LIMITED – ASX CVO, BREVILLE GROUP LIMITED – ASX BRG, STANDARD AND POOR’S ASX 100 INDEX

Cross-border M&A to climb, law firm says

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 35 : 15-Oct-15

A Baker & McKenzie report shows that the value of cross-border mergers and acquisitions rose by 10 per cent to US375bn ($A518bn) in the September 2015 quarter. However, the number of transactions fell by 16 per cent year-on-year. Baker & McKenzie partner David Holland expects an increase in the proportion of M&A deals that are cross-border transactions. Meanwhile, data from Dealogic shows that some $US88.9bn worth of M&A deals involving Australian companies have been announced so far in 2015.

CORPORATES
BAKER AND McKENZIE, DEALOGIC (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED, ASCIANO LIMITED – ASX AIO, VEDA GROUP LIMITED – ASX VED, DELL COMPUTER CORPORATION, EMC CORPORATION, ANHEUSER-BUSCH INBEV SA/NV, SABMILLER PLC, HEALTHSCOPE LIMITED – ASX HSO, MYOB GROUP LIMITED – ASX MYO, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD

Richest families make second fortunes

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Original article by John Stensholt
The Australian Financial Review – Page: 3 : 8-Oct-15

The Smorgon family has topped the 2015 "BRW Rich Families List", with estimated wealth of $A2.74bn. The combined fortunes of the 50 families on the 2015 list is $A41.18bn, compared with $A40.1bn in 2014. Many families on the list are expanding into the property development sector, after making their fortunes in other industries.

CORPORATES
BAIADA POULTRY PTY LTD, STEGGLES HOLDINGS LIMITED, LILYDALE, SWISSE WELLNESS PTY LTD, BIOSTIME INTERNATIONAL HOLDINGS LIMITED, INTRAPAC PROJECTS PTY LTD, LEWIS LAND CORPORATION LIMITED, HARD YAKKA, BEST AND LESS PTY LTD, BANNA PROPERTY PTY LTD

IOOF slapped with class action

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Original article by Adele Ferguson, Sarah Danckert
The Australian Financial Review – Page: 29 : 8-Oct-15

Australian-listed financial services group IOOF Holdings faces a shareholder class action over claims that staff in its research department failed to comply with disclosure requirements. The legal action has been launched by law firm Maurice Blackburn with financial backing from UK-based Harbour Litigation Funding. The class action will be open to investors who bought IOOF shares between December 2013 and June 2015.

CORPORATES
IOOF HOLDINGS LIMITED – ASX IFL, MAURICE BLACKBURN PTY LTD, HARBOUR LITIGATION FUNDING LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FAIRFAX MEDIA LIMITED – ASX FXJ, LONSEC LIMITED, MORNINGSTAR PTY LTD

ASX tipped to reach 6200 by end-2016

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 20 : 7-Oct-15

Citigroup is upbeat about the outlook for global sharemarkets, with equity strategist Robert Buckland suggesting that the market has entered a "maturing bull" phase. The S&P 500 in the US and Australia’s benchmark S&P/ASX 200 have risen strongly so far in October 2015, and Citigroup now expects the ASX 200 to top 6,200 points by the end of 2016. Its previous forecast for this date was 6,000 points.

CORPORATES
CITIGROUP INCORPORATED, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, MORGAN STANLEY CAPITAL INTERNATIONAL ALL COUNTRY WORLD INDEX, RESERVE BANK OF AUSTRALIA

ASX loses $55b in Glencore-led sell-off

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 32 : 30-Sep-15

The Australian sharemarket fell sharply on 29 September 2015, with the S&P/ASX 200 shedding 3.8 per cent to close at 4,918.4. The slump was prompted by a big fall in the share price of UK-listed Glencore, with the resources sector being hardest hit. BHP Billiton was down 6.6 per cent to a seven-year low of $A21.61 and Paladin Energy was 13.1 per cent lower at $A0.165. Meanwhile, the ANZ/Roy Morgan consumer confidence index fell by 3.4 per cent in the week ended 27 September, following a sharp rise after Malcolm Turnbull became Prime Minister.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, PALADIN ENERGY LIMITED – ASX PDN, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, TELSTRA CORPORATION LIMITED – ASX TLS, KAROON GAS AUSTRALIA LIMITED – ASX KAR, ORIGIN ENERGY LIMITED – ASX ORG, AWE LIMITED – ASX AWE, SANTOS LIMITED – ASX STO, ARRIUM LIMITED – ASX ARI, MORGANS FINANCIAL LIMITED, AUSTRALIAN STOCK REPORT LIMITED, GLENCORE PLC, ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. FEDERAL RESERVE BOARD, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Stocks to buy in uncertain times

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 33 : 29-Sep-15

John Conomos of Macquarie Securities says a number of Australian-listed stocks should perform well amid the current volatility and uncertainty in global financial markets. Telstra, ResMed and Aristocrat Leisure are deemed to have the lowest sensitivity to uncertainty, based on Macquarie’s metrics. Other stocks include TPG Telecom, CSL, Stockland, Federation Centres, Caltex, Wesfarmers and Bank of Queensland.

CORPORATES
MACQUARIE SECURITIES PTY LTD, RESMED INCORPORATED – ASX RMD, ARISTOCRAT LEISURE LIMITED – ASX ALL, TPG TELECOM LIMITED – ASX TPM, CL PLASTICS AND CONSULTANTS PTY LTD, STOCKLAND – ASX SGP, FEDERATION CENTRES – ASX FDC, CALTEX AUSTRALIA LIMITED – ASX CTX, WESFARMERS LIMITED – ASX WES, BANK OF QUEENSLAND LIMITED – ASX BOQ, UNITED STATES. FEDERAL RESERVE BOARD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB