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OneVue completes multi-million dollar capital raising

OneVue completes multi-million dollar capital raising

Reporter
26 November 2013

SMSF service provider OneVue has completed the first $6.75 million of an $8 million capital raising program, with Perpetual and Thorney Investments major participants.

OneVue chief executive Connie McKeage said the capital raised from the program will be used to fund business expansion following the acquisition of Computershare Fund Services, and to create a stronger balance sheet.

“The capital raising allows us to focus on further expansion and innovation, and even greater outcomes for existing and prospective clients and partners,” said Ms McKeage.

She said the main investors in the $6.75 million placement were Perpetual Limited and Thorney Investments.

The remaining $1.25 million will be allocated to existing shareholders and OneVue staff, including those employees who joined the business as part of the Computershare Fund Services transaction in September.

“The high calibre of new investors such as Perpetual Limited and Thorney Investments highlights that our belief in OneVue being a market transformational business is increasingly gaining momentum across the financial services industry,” said Ms McKeage.

“We access the SMSF market via the key distribution avenues being intermediaries such as planners and accountants, and third party brands that market direct to consumers,” she added

According to Ms McKeage, the soon-to-be launched ASX Managed Funds Service, formerly known as AQUA II, will provide a third channel.

OneVue completes multi-million dollar capital raising
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