K64 Auxiliary Finance and Insurance Services

Australia languishes in bottom five

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Original article by Mark Mulligan
The Australian Financial Review – Page: 27 : 24-Jun-15

Global asset managers are bearish about the outlook for returns from Australian shares over the next three years, according to a report commissioned by Principal Global Investors. The report’s author, Amin Rajan, says the survey shows that markets in Russia, Australia, Latin America, Canada and Eastern Europe will deliver the worst returns over this period, while the best returns will be achieved by the US, India, Japan, so-called frontier markets and Asia.

CORPORATES
PRINCIPAL GLOBAL INVESTORS, UNITED STATES. FEDERAL RESERVE BOARD

The year that ‘defied the doomsayers’

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 29 : 23-Jun-15

Australia’s S&P/ASX 200 Index has gained 3.7 per cent so far in 2014-15, with one week left of the financial year. The broader All Ordinaries Index has risen by 3.9 per cent, while the total return for stocks in the All Ordinaries Accumulation Index has risen by 8.2 per cent. CommSec’s Craig James says the fiscal year has been "good" but not "great" for investors.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES ACCUMULATION INDEX, COMMONWEALTH SECURITIES LIMITED, UNITED STATES. FEDERAL RESERVE BOARD

Speculation rife about which companies Buffett will choose

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 19 & 24 : 18-Jun-15

US investment guru Warren Buffett plans to reinvest Berkshire Hathaway’s allocation of Insurance Australia Group’s annual gross written premium in local stocks. Australia’s four major banks satisfy many of Buffett’s strict investment criteria, while other stocks that could potentially comply with his investment standards include BHP Billiton, Woodside Petroleum, Oil Search, GPT Group and Trade Me Group.

CORPORATES
BERKSHIRE HATHAWAY INCORPORATED. INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG. BHP BILLITON LIMITED – ASX BHP. WOODSIDE PETROLEUM LIMITED – ASX WPL. OIL SEARCH LIMITED – ASX OSH. GPT GROUP – ASX GPT. TRADE ME GROUP LIMITED – ASX TME. BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN. WESTPAC BANKING CORPORATION – ASX WBC. BT INVESTMENT MANAGEMENT LIMITED – ASX BTT. JP MORGAN AND COMPANY INCORPORATED. WELLS FARGO BANK. THE GOLDMAN SACHS GROUP INCORPORATED. BANK OF AMERICA CORPORATION. EXXONMOBIL CORPORATION. BURLINGTON NORTHERN SANTE FE CORPORATION. AURIZON HOLDINGS LIMITED – ASX AZJ. MEDIBANK PRIVATE LIMITED – ASX MPL. TESCO PLC. ALDI EINKAUF GMBH & CO OHG. LIDL GMBH & CO KG. WOOLWORTHS LIMITED – ASX WOW. APPLE INCORPORATED. GOOGLE INCORPORATED

Shriro warms investors’ hearts with barbecue

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 20 : 17-Jun-15

Shriro Holdings will have a market capitalisation of about $A125m when it debuts on the Australian sharemarket on 23 June 2015. The household appliances group’s IPO raised $A50.5m, with its shares issued at $A1 apiece. Shriro’s portfolio of brands includes Altise, Omega and Robinhood, while it is a distributor of brands such as Casio, Blanco and Pioneer. Shriro has forecast a net profit of $A10m and revenue of $A187m for 2015.

CORPORATES
SHRIRO HOLDINGS LIMITED – ASX SHM, BLANCO PTY LTD, CASIO COMPUTER COMPANY LIMITED, PIONEER ELECTRONICS AUSTRALIA PTY LTD, OMEGA APPLIANCES, ROBINHOOD AUSTRALIA PTY LTD, ALTISE, EVERDURE, DULUXGROUP LIMITED – ASX DLX, SHRIRO PACIFIC, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, BUNNINGS GROUP LIMITED, MYER HOLDINGS LIMITED – ASX MYR, BING LEE ELECTRICS PTY LTD, BIG W DISCOUNT STORES, BREVILLE GROUP LIMITED – ASX BRG, GUD HOLDINGS LIMITED – ASX GUD, REXEL AUSTRALIA LIMITED, HAGEMEYER BRANDS AUSTRALIA PTY LTD, ROCKPOOL BAR AND GRILL PTY LTD, ESTEE LAUDER PTY LTD, GREENSTONE LIMITED, CARTER HOLT HARVEY LIMITED, IVE GROUP, METRO PROPERTY DEVELOPMENT PTY LTD, WILSON HTM INVESTMENT GROUP LIMITED – ASX WIG, ANZ SECURITIES LIMITED

Pockets full of dollars: M&A rise for Japan

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Original article by James Eyers
The Australian Financial Review – Page: 17 : 16-Jun-15

Corporate Japan is becoming increasing active in global mergers and acquisitions in 2015. Data from Dealogic shows that the value of such deals has topped $US50bn to date. The CEO of ANZ Bank’s Japanese operations, Peter Davis, expects the nation’s financial services providers to seek further acquisition opportunities in Australia. Meanwhile, he notes that relatively few Australian companies are pursuing growth in Japan.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, DEALOGIC HOLDINGS PLC, TOKIO MARINE AND FIRE INSURANCE COMPANY LIMITED, HCC INSURANCE, TOLL HOLDINGS LIMITED, JAPAN POST COMPANY LIMITED, THE DAI-ICHI MUTUAL LIFE INSURANCE COMPANY LIMITED, TAL LIMITED, NIPPON LIFE INSURANCE COMPANY LIMITED, DBS GROUP HOLDINGS LIMITED, MITSUBISHI UFJ FINANCIAL GROUP INCORPORATED, MIZUHO BANK LIMITED, SUMITOMO MITSUI BANKING CORPORATION, LEND LEASE GROUP LIMITED – ASX LLC, MITSUI AND COMPANY LIMITED, SUMITOMO CORPORATION, MARUBENI CORPORATION, MITSUBISHI CORPORATION

National Vet Care dogs ASX-listed Greencross

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Original article by Tim Binsted
The Australian Financial Review – Page: 21 : 15-Jun-15

It is estimated that Australians spend around $A2.6bn on veterinary services every year. National Veterinary Care aims to capitalise on this via a sharemarket float, which is slated for July 2015. The company is headed by Tomas Steenackers, a former general manager at listed veterinary services group Greencross. Steenackers’ firm comprises one veterinary clinic in Brisbane at present, but it plans to buy an additional 34 clinics if the IPO proceeds.

CORPORATES
GREENCROSS LIMITED – ASX GXL, NATIONAL VETERINARY CARE, DEUTSCHE BANK AG, IBISWORLD PTY LTD, MAYNE PHARMA GROUP LIMITED – ASX MYX, TERRY WHITE CHEMISTS, G8 EDUCATION LIMITED – ASX GEM, HEALTH DIRECT PTY LTD, ONCORE GROUP, WILSON HTM INVESTMENT GROUP LIMITED – ASX WIG, SHAW STOCKBROKING LIMITED

Tough times present high-quality opportunities, says Clime

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 20 : 12-Jun-15

Australia’s benchmark S&P/ASX 200 Index rebounded to 5,557 points on 11 June 2015, having fallen below the 5,500-point level earlier in the week. Clime Asset Management’s Clime John Abernethy notes that the local market is now at its level of mid-2014, and says some stocks now offer value. Abernethy favours National Australia Bank, Telstra, Woolworths, Wesfarmers and CSL. He cites factors such as healthy earnings, strong dividends and expectations of a double-digit rate of return for each of these stocks in the next year.

CORPORATES
CLIME ASSET MANAGEMENT PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, TELSTRA CORPORATION LIMITED – ASX TLS, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, CSL LIMITED – ASX CSL, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, EVIDENTE, MONEY MATTERS FINANCIAL SOLUTIONS PTY LTD

Hopes fade for IPOs as Greenstone deal sinks

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Original article by Sally Rose
The Australian Financial Review – Page: 21 & 24 : 11-Jun-15

ASX Limited’s Max Cunningham says fewer companies are pursuing IPOs compared with the same period in 2014, but he adds that the IPO market remains healthy. However, the outlook for IPOs is uncertain following Greenstone’s decision to abandon its $A900m float after lack of support for investors at the stock’s proposed issue price. Upcoming floats include Gateway Lifestyle, Adairs and QMS Media.

CORPORATES
GREENSTONE LIMITED, ASX LIMITED – ASX ASX, GATEWAY LIFESTYLE – ASX GTY, ADAIRS LIMITED – ASX ADH, QMS MEDIA LIMITED – ASX QMS, LINK MARKET SERVICES LIMITED, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, SHRIRO HOLDINGS LIMITED – ASX SHM, DONGFANG MODERN AGRICULTURAL HOLDING GROUP LIMITED – ASX DFM, MITULA GROUP LIMITED – ASX MUA, ARGO GLOBAL LISTED INFRASTUCTURE LIMITED – ASX ALI, INDIA FUND LIMITED – ASX INF, GARDA DIVERSIFIED PROPERTY FUND – ASX GDF, HOLLARD INSURANCE GROUP, UBS HOLDINGS PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, COSTA GROUP OF COMPANIES PTY LTD, SMALLCO INVESTMENT MANAGER LIMITED, CARTER HOLT HARVEY LIMITED, PEPPER HOMELOANS PTY LTD, WISETECH GLOBAL PTY LTD

M&A outlook is optimistic

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 18 : 10-Jun-15

Data from Dealogic shows that some $US59.3bn ($A77.6bn) worth of mergers and acquisitions have been announced in Australia so far in 2015. This includes $US15.1bn worth of offshore deals by local companies. Anthony Sweetman of UBS is upbeat about the outlook for M&A activity in the second half of 2015, while Michael Barker of law firm King & Wood Mallesons also anticipates a bullish M&A market in the second half.

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, UBS HOLDINGS PTY LTD, KING AND WOOD MALLESONS, TOLL HOLDINGS LIMITED, JAPAN POST COMPANY LIMITED, INDEPENDENCE GROUP NL – ASX IGO, SIRIUS RESOURCES NL – ASX SIR, EVOLUTION MINING LIMITED – ASX EVN, BARRICK GOLD CORPORATION, GE CAPITAL AUSTRALIA, ESANDA FINANCE CORPORATION LIMITED, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, MACQUARIE CAPITAL PTY LTD, GRANT SAMUEL AND ASSOCIATES PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL

ASX warns on open clearing

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Original article by Michael Smith
The Australian Financial Review – Page: 20 : 9-Jun-15

The Australian Government is likely to make a decision on the future of ASX Limited’s monopoly on the clearing of cash equities by July 2015. ASX CEO Elmer Funke Kupper has warned that allowing competition in cash equities clearing would make it more difficult to manage defaults by stockbrokers. He notes that rival clearing houses would have to close a firm’s options trading positions immediately rather than pursuing alternatives that are open to the ASX.

CORPORATES
ASX LIMITED – ASX ASX, BBY LIMITED, CHI-X AUSTRALIA PTY LTD, COUNCIL OF FINANCIAL REGULATORS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY