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.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 22 May 2017ATO sheds light on LRBA reporting requirementsBy Miranda Brownlee
- 22 May 2017Software provider releases super reform-focused servicesBy Jotham Lian
- 22 May 2017ATO poised to ramp up focus on key compliance areaBy Katarina Taurian
- 22 May 2017Caution advised on ATO’s new super balance toolBy Katarina Taurian
- 19 May 2017SMSF real-time reporting slated for FY2018-19By Miranda Brownlee and Katarina Taurian
- 19 May 2017Lawyer points to benefits of AFCA for SMSFsBy Miranda Brownlee
- view all
- Software provider releases super reform-focused services
BGL has announced the release of services, designed to deal with the 2016-17 superannuation reforms, that will help clients tackle the new C...read more
- ATO poised to ramp up focus on key compliance area
With 8 per cent of funds failing to meet their lodgement obligations for the last two years at least, the ATO is set to up its compliance fo...read more
- view all