07 maj: Beijing Enterprises Group Raised Stake In China Gas To 12.65%
07 maj: Spanish Industrial Output Drops
07-05-2012 10:02:00

Australian Fund Managers Seek To Meet Demand For Commercial Loans

Relateret indhold

SYDNEY-(Dow Jones)- Australia's fund managers are stepping in to meet the growing demand for commercial loans left by the deleveraging of the banking sector.

Specialist loan fund manager Metrics Credit Partners has partnered with National Australia Bank (NAB.AU) to create a fund to tap the growing appetite for fixed yielding assets among Australia's 1.4 trillion ($1.42 trillion) Australian dollar superannuation industry.

Metrics Executive Director Graham MacNamara said the fund, which is expected to raise A$3 billion by the end of 2012--half of which will come from NAB--hopes to cash in on the funding gap left as Australia's banks rein in their lending and Europe's embattled lenders retreat to their home markets.

"Heading into the Basel III environment will again increase the pressure on the banks in terms of the kind of assets they can have on their balance sheet," he said. "European banks withdrew about A$15 billion from the (Australian) market in the last quarter. The withdrawal of that much capacity has to be found from somewhere else."

Metrics will own and service the loans, but sell units in the fund to investors such as pension funds, giving them access to a fixed income stream without having to shoulder the risks of owning the underlying assets.

MacNamara said the funds loan portfolio currently yields 200 to 500 basis points and he expects "loan margins to remain at these levels" for the foreseeable future. "If we're successful I think you'll see some other banks looking to do the same thing," he added.

Australia's major four banks----Australia and New Zealand Banking Group Ltd (ANZ.AU), Commonwealth Bank of Australia (CBA.AU), Westpac Banking Corp. (WBC.AU) and NAB--control around 60% of the country's syndicated corporate loan market, according to data from Dealogic.

Steve Lambert, NAB's executive general manager for Capital Markets, said the banks could raise between A$20 billion and A$25 billion a year by 2015 by selling off their syndicated loans.

"NAB is doing this to help address the problem we're facing," he said. "We're not necessarily as efficient a place to hold long-term debt as the super funds."

The void left by the banks' deleveraging has also created opportunities in property loans for fund managers.

Quadrant Real Estate Advisors estimates the exodus of the European banks from Australia's commercial property sector will create a A$12 billion borrowing squeeze over the next two years. Asset managers like Perpetual Ltd. (PPT.AU) and Challenger Limited (CGF.AU) are expanding their property debt portfolios this year in a bid to cash in on the high margins in the capital-hungry sector.

-By Caroline Henshaw, Dow Jones Newswires; 61-2-8272-4689; caroline.henshaw@dowjones.com

(END) Dow Jones Newswires

May 07, 2012 04:02 ET (08:02 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Rockwool/Sydbank: Ekstra investeringer går til ekstra kapacitet

20-08-2014 16:27:59
Rockwools regnskab for andet kvartal var uden den store dramatik, og stenuldsproducenten fastholder da også sine finansielle forventninger til hele 2014.Dog øge..

Flügger: Tronarving valgt ind som næstformand

20-08-2014 14:37:50
Malervareselskabet Flügger har netop fået Sune Dedenroth Schnack, søn af koncerndirektør og hovedaktionær i selskabet Ulf Schnack, som ny næstformand for bestyr..

Aktier/middag: Carlsberg siver til bunds i C20

20-08-2014 11:41:21
Der er flere fald end stigninger blandt de store aktier onsdag formiddag, hvor både Carlsberg og Vestas befinder sig i negativt territorium efter at have fremla..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas/Nykredit: Er lykkedes med at indrette sig efter markedet
2
Vestas løfter marginforventningerne til 2014
3
Mærsk: Tre finanshuse hæver kursmål efter regnskab
4
KORR: Vestas Q2: Overraskende gode marginer giver opjustering
5
Aktier/tendens: Store regnskabsdag for Carlsberg, Vestas og NKT

Relaterede aktiekurser

Westpac Banking Corporat.. 32,59 0,5% Stigning i aktiekurs
ANZ Bank FPO 33,27 0,0% Aktiekurs uændret
Cwlth Bank FPO 80,30 0,0% Aktiekurs uændret
Challenger FPO 7,95 0,0% Aktiekurs uændret
NAT Bank FPO 34,24 0,0% Aktiekurs uændret
Perpetual FPO 47,66 0,0% Aktiekurs uændret
Westpac FPO 34,88 0,0% Aktiekurs uændret
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
20. august 2014 22:26:28
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20140819.1 - EUROWEB7 - 2014-08-20 22:26:28 - 2014-08-20 22:26:28 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x