Ief-I Q3 2020
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MI Downing Monthly Income Fund Market Commentary July 2017 in June, the MSCI UK All Cap Total Return Index Fell 2.57% While the Fund Fell 2.34%
MI Downing Monthly Income Fund Market commentary July 2017 In June, the MSCI UK All Cap Total Return Index fell 2.57% while the Fund fell 2.34%. Key contributors to the portfolio throughout the month were Sprue Aegis (up 16.47%), Polar Capital Holdings (up 9.87%) and Caretech Holdings (up 7.79%). Key detractors included Crest Nicholson (down 17.10%) and Conviviality (down 9.94%). Sprue Aegis, one of Europe’s leading developers and suppliers of home safety products, announced a positive start to the year in their June AGM statement. They expect a strong return to profitability in the first half of 2017 and with manufacturing and distribution arrangements progressing well, they believe they are well positioned to deliver a full-year adjusted operating profit in line with market expectations. Polar Capital released good group results for the period ended 31 March 2017 with assets under management increasing 27% from £7.3 billion to £9.3 billion. The results highlighted that co-founder of the business, Tim Woolley, will be standing down from his CEO role in July, although he will remain with the company as a non-executive member of the board. Gavin Rochussen will join the board as new CEO, bringing his experience as a CEO in asset management and track record in developing an institutional business and building a significant presence in North America. Caretech, a provider of specialist social care services in the UK, announced positive interim results in June for the six months ending 31 March 2017. Highlights included their acquisitions of Beacon Reach (a centre offering residential care and education to children) and Selborne Care (a centre providing support for adults with learning disabilities) after raising £37 million from a share placing in March. -
REAL ESTATE July 2020
LISTED MARKETS – REAL ESTATE July 2020 Leo Zielinski Partner Tel. +44 (0)7980 809031 [email protected] John Rodgers Partner Tel. +44 (0)7810 307422 [email protected] Will Strachan Partner Tel. +44 (0)7929 885859 [email protected] Lloyd Davies We track the share price movement and regulatory announcements Partner of 57 real estate owning listed entities (“Gerald Eve tracked index”). Tel. +44 (0)7767 311254 A summary of the Gerald Eve tracked index in terms of GAV, NAV, [email protected] LTV, Dividend, Share Price, Market Cap, Discount/Premium to NAV and their respective weekly movement is attached. Lorenzo Solazzo Data Analyst We provide a comparison to share price data from 3 February 2020 Tel. +44 (0)783 309 5582 [email protected] (pre-Covid-19 level) to present day to demonstrate the impact across certain entities as a direct result of Covid-19. James Brown Surveyor As at 30 of June, the Gerald Eve tracked index is currently down 30% to pre- Tel. +44 (0)7464 656563 Covid-19 level, under-performing the FTSE350 which is slowly recovering and is [email protected] now down 16%. The tracked listed REITs share price decreased on average 3% since 1 June 2020 (March: -25%, April: +6%, May: -3%). To provide context around the share price movement, the average discount to NAV is currently 31% against 3% pre-Covid-19. It is unsurprising to note that specialist sector entities across Industrial, Healthcare and Supermarkets have out-performed the REIT universe relative to other strategies within the Gerald Eve tracked index. -
The State of the Deal and Deloitte Queensland Index
The State of the Deal and Deloitte Queensland Index March 2021 – Queensland Index Exceeds $100 billion THE STATE OF THE DEAL | March 2021 – Queensland Index Exceeds $100 billion Contents Executive Summary 1 Then & Now – Investment Landscape 3 Then & Now – Deloitte Queensland Index 4 Queensland Economic Update 7 The Deloitte Queensland Index Q1 2021 8 Contacts 11 Sources 12 ii THE STATE OF THE DEAL | March 2021 – Queensland Index Exceeds $100 billion Executive Summary Following the significant rebound in the second half of 2020, companies in the Deloitte Queensland Index exceeded $100 billion at 31 March 2021, the highest month end market capitalisation on record for the State. Deloitte Queensland Index S&P/ASX All Ordinaries Companies in the Deloitte return in Q1 2021 return in Q1 2021 Queensland Index 3.5% 2.4% 169 at 31 March 2021 10.6% in Q4 2020 14.0% in Q4 2020 173 at 31 December 2020 90 companies increased Market capitalisation as at Mar-21 market capitalisation (53%) 66 companies decreased market $101.6b capitalisation (39%) 12 no movement (7%) $97.2b as at Dec-20 $18.5b as at Sep-02 5 delistings 1 listing (1%) Announced QLD M&A Disclosed value of announced transactions in Q1 2021 QLD M&A transactions in Q1 2021 64 $1.9b 92 in Q4 2020 $3.3b in Q4 2020 1 THE STATE OF THE DEAL | March 2021 – Queensland Index Exceeds $100 billion The Deloitte Queensland Index increased by 3.5% in Q1 2021 Queensland M&A more broadly remains strong with with total market capitalisation increasing to $101.6b at 64 transactions announced in Q1 2021 including: Mar-21, the highest month end value on record for the State. -
DXE Liquidity Provider Registered Firms
DXE Liquidity Provider Program Registered Securities European Equities TheCboe following Europe Limited list of symbols specifies which firms are registered to supply liquidity for each symbol in 2021-09-28: 1COVd - Covestro AG Citadel Securities GCS (Ireland) Limited (Program Three) DRW Europe B.V. (Program Three) HRTEU Limited (Program Two) Jane Street Financial Limited (Program Three) Jump Trading Europe B.V. (Program Three) Qube Master Fund Limited (Program One) Societe Generale SA (Program Three) 1U1d - 1&1 AG Citadel Securities GCS (Ireland) Limited (Program Three) HRTEU Limited (Program Two) Jane Street Financial Limited (Program Three) 2GBd - 2G Energy AG Citadel Securities GCS (Ireland) Limited (Program Three) Jane Street Financial Limited (Program Three) 3BALm - WisdomTree EURO STOXX Banks 3x Daily Leveraged HRTEU Limited (Program One) 3DELm - WisdomTree DAX 30 3x Daily Leveraged HRTEU Limited (Program One) 3ITLm - WisdomTree FTSE MIB 3x Daily Leveraged HRTEU Limited (Program One) 3ITSm - WisdomTree FTSE MIB 3x Daily Short HRTEU Limited (Program One) 8TRAd - Traton SE Jane Street Financial Limited (Program Three) 8TRAs - Traton SE Jane Street Financial Limited (Program Three) Cboe Europe Limited is a Recognised Investment Exchange regulated by the Financial Conduct Authority. Cboe Europe Limited is an indirect wholly-owned subsidiary of Cboe Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 11 Monument Street, London EC3R 8AF. This document has been established for information purposes only. The data contained herein is believed to be reliable but is not guaranteed. None of the information concerning the services or products described in this document constitutes advice or a recommendation of any product or service. -
Annual Report 2019 Contents
ANNUAL REPORT 2019 CONTENTS 04 150 Financial Highlights Corporate Governance Statement 06 169 Chair’s Report Securityholder Information 10 CEO’s Report 18 Annual Financial Report 20 Directors’ Report 68 Auditor’s Independence Declaration 70 Consolidated Income Statements 71 Consolidated Statements of Comprehensive Income 72 Consolidated Statements of Financial Position 73 Consolidated Statements of Changes in Equity 75 Consolidated Statements of Cash Flows 76 Notes to the Financial Statements 145 Directors’ Declaration 146 Independent Auditor’s Report 400 George Street, Brisbane 2 CROMWELL PROPERTY GROUP I 2019 ANNUAL REPORT Cromwell Property Group Cromwell Property Group (ASX:CMW) (Cromwell) is a Real Estate Investor and Manager with operations on three continents and a global investor base. As at 30 June 2019, Cromwell had a market capitalisation of A$3.0 billion, a direct property investment portfolio in Australia valued at A$2.5 billion and total assets under management of A$11.9 billion across Australia, New Zealand and Europe. Cromwell is included in the S&P/ASX200 and the FTSE EPRA/NAREIT Global Real Estate Index. Cromwell offers securityholders an attractive combination of stable long-term cash flows, demonstrated asset enhancement capabilities and transactional profits, and low risk exposure to International capital flows and European economic growth. Cromwell maintains a strong and secure balance sheet and long-dated Australian property portfolio which enable it to recycle assets and reinvest into its property investment and -
Liste Des Actions Concernées Par L'interdiction De Positions Courtes Nettes
Liste des actions concernées par l'interdiction de positions courtes nettes L’interdiction s’applique aux actions listées sur une plate-forme française et relevant de la compétence de l’AMF au titre du règlement 236/2012 (information disponible dans les registres ESMA). Cette liste est fournie à titre informatif. L'AMF n'est pas en mesure de garantir que le contenu disponible est complet, exact ou à jour. Compte tenu des diverses sources de données sous- jacentes, des modifications pourraient être apportées régulièrement. Isin Nom FR0010285965 1000MERCIS FR0013341781 2CRSI FR0010050773 A TOUTE VITESSE FR0000076887 A.S.T. GROUPE FR0010557264 AB SCIENCE FR0004040608 ABC ARBITRAGE FR0013185857 ABEO FR0012616852 ABIONYX PHARMA FR0012333284 ABIVAX FR0000064602 ACANTHE DEV. FR0000120404 ACCOR FR0010493510 ACHETER-LOUER.FR FR0000076861 ACTEOS FR0000076655 ACTIA GROUP FR0011038348 ACTIPLAY (GROUPE) FR0010979377 ACTIVIUM GROUP FR0000053076 ADA BE0974269012 ADC SIIC FR0013284627 ADEUNIS FR0000062978 ADL PARTNER FR0011184241 ADOCIA FR0013247244 ADOMOS FR0010340141 ADP FR0010457531 ADTHINK FR0012821890 ADUX FR0004152874 ADVENIS FR0013296746 ADVICENNE FR0000053043 ADVINI US00774B2088 AERKOMM INC FR0011908045 AG3I ES0105422002 AGARTHA REAL EST FR0013452281 AGRIPOWER FR0010641449 AGROGENERATION CH0008853209 AGTA RECORD FR0000031122 AIR FRANCE -KLM FR0000120073 AIR LIQUIDE FR0013285103 AIR MARINE NL0000235190 AIRBUS FR0004180537 AKKA TECHNOLOGIES FR0000053027 AKWEL FR0000060402 ALBIOMA FR0013258662 ALD FR0000054652 ALES GROUPE FR0000053324 ALPES (COMPAGNIE) -
Fidelity Future Leaders Fund: Themes, Lessons and Thank You the Strong Bounce in the Australian Equity Market in Headwinds for the Economy
From the desk of James Abela March 2019 Fidelity Future Leaders Fund: Themes, lessons and thank you The strong bounce in the Australian equity market in headwinds for the economy. The Reserve Bank is becoming February was broadly interpreted as unsustainable more cautious as global growth slows and a rate cut due to lower earnings expectations and weaker looks imminent. outlooks. However, a number of companies reported For investors this will mean a greater focus on balance a more confident outlook and as a result energy, sheets as sustainability moves to front of mind. High risk/ metals, financials, technology, healthcare and low quality businesses which have experienced phenomenal industrials all performed better than expected. support in the search for yield over the last few years will Results season delivered some big positive price moves see this wane as liquidity slows and risk tolerance declines. from those quality growth stocks or cyclicals that delivered Some critical lessons from history form the foundations strong results. Altium, Appen, A2 Milk, Bluescope Steel, of my portfolio construction process: Cleanaway and Breville were notable winners. On the flipside there were some big negative price moves from 1. The Fund’s Quality, Momentum, Transition and Value those that disappointed such as Blackmores, Bingo, Pact (QMTV) framework is a balanced approach that can and Eclipx, proving that markets are still challenging deliver alpha throughout the cycle and is key from a companies that are exposed to cyclical softness or portfolio risk management perspective. competitive market structures. 2. Remember 2007 – high leverage is not an everlasting Some fundamental themes that emerged from the provider of growth. -
Socially Conscious Australian Equity Holdings
Socially Conscious Australian Equity Holdings As at 30 June 2021 Country of Company domicile Weight COMMONWEALTH BANK OF AUSTRALIA AUSTRALIA 10.56% CSL LTD AUSTRALIA 8.46% AUST AND NZ BANKING GROUP AUSTRALIA 5.68% NATIONAL AUSTRALIA BANK LTD AUSTRALIA 5.32% WESTPAC BANKING CORP AUSTRALIA 5.08% TELSTRA CORP LTD AUSTRALIA 3.31% WOOLWORTHS GROUP LTD AUSTRALIA 2.93% FORTESCUE METALS GROUP LTD AUSTRALIA 2.80% TRANSURBAN GROUP AUSTRALIA 2.55% GOODMAN GROUP AUSTRALIA 2.34% WESFARMERS LTD AUSTRALIA 2.29% BRAMBLES LTD AUSTRALIA 1.85% COLES GROUP LTD AUSTRALIA 1.80% SUNCORP GROUP LTD AUSTRALIA 1.62% MACQUARIE GROUP LTD AUSTRALIA 1.54% JAMES HARDIE INDUSTRIES IRELAND 1.51% NEWCREST MINING LTD AUSTRALIA 1.45% SONIC HEALTHCARE LTD AUSTRALIA 1.44% MIRVAC GROUP AUSTRALIA 1.43% MAGELLAN FINANCIAL GROUP LTD AUSTRALIA 1.13% STOCKLAND AUSTRALIA 1.11% DEXUS AUSTRALIA 1.11% COMPUTERSHARE LTD AUSTRALIA 1.09% AMCOR PLC AUSTRALIA 1.02% ILUKA RESOURCES LTD AUSTRALIA 1.01% XERO LTD NEW ZEALAND 0.97% WISETECH GLOBAL LTD AUSTRALIA 0.92% SEEK LTD AUSTRALIA 0.88% SYDNEY AIRPORT AUSTRALIA 0.83% NINE ENTERTAINMENT CO HOLDINGS LIMITED AUSTRALIA 0.82% EAGERS AUTOMOTIVE LTD AUSTRALIA 0.82% RELIANCE WORLDWIDE CORP LTD UNITED STATES 0.80% SANDFIRE RESOURCES LTD AUSTRALIA 0.79% AFTERPAY LTD AUSTRALIA 0.79% CHARTER HALL GROUP AUSTRALIA 0.79% SCENTRE GROUP AUSTRALIA 0.79% ORORA LTD AUSTRALIA 0.75% ANSELL LTD AUSTRALIA 0.75% OZ MINERALS LTD AUSTRALIA 0.74% IGO LTD AUSTRALIA 0.71% GPT GROUP AUSTRALIA 0.69% Issued by Aware Super Pty Ltd (ABN 11 118 202 672, AFSL 293340) the trustee of Aware Super (ABN 53 226 460 365). -
Asx Clear – Acceptable Collateral List 28
et6 ASX CLEAR – ACCEPTABLE COLLATERAL LIST Effective from 20 September 2021 APPROVED SECURITIES AND COVER Subject to approval and on such conditions as ASX Clear may determine from time to time, the following may be provided in respect of margin: Cover provided in Instrument Approved Cover Valuation Haircut respect of Initial Margin Cash Cover AUD Cash N/A Additional Initial Margin Specific Cover N/A Cash S&P/ASX 200 Securities Tiered Initial Margin Equities ETFs Tiered Notes to the table . All securities in the table are classified as Unrestricted (accepted as general Collateral and specific cover); . Specific cover only securities are not included in the table. Any securities is acceptable as specific cover, with the exception of ASX securities as well as Participant issued or Parent/associated entity issued securities lodged against a House Account; . Haircut refers to the percentage discount applied to the market value of securities during collateral valuation. ASX Code Security Name Haircut A2M The A2 Milk Company Limited 30% AAA Betashares Australian High Interest Cash ETF 15% ABC Adelaide Brighton Ltd 30% ABP Abacus Property Group 30% AGL AGL Energy Limited 20% AIA Auckland International Airport Limited 30% ALD Ampol Limited 30% ALL Aristocrat Leisure Ltd 30% ALQ ALS Limited 30% ALU Altium Limited 30% ALX Atlas Arteria Limited 30% AMC Amcor Ltd 15% AMP AMP Ltd 20% ANN Ansell Ltd 30% ANZ Australia & New Zealand Banking Group Ltd 20% © 2021 ASX Limited ABN 98 008 624 691 1/7 ASX Code Security Name Haircut APA APA Group 15% APE AP -
Australian Equities Lending Margins Effective 21 April 2021
Australian Equities Lending Margins Effective 21 April 2021 Stock ASX Margin Stock ASX Margin Stock ASX Margin Code Rate Code Rate Code Rate A2B Australia A2B 40% AusNet Services AST 70% Costa Group Holdings CGC 60% The A2 Milk Company A2M 65% ASX ASX 75% Challenger Financial Australian Agricultural Company AAC 55% AUB Group AUB 50% Services Group CGF 70% Adelaide Brighton ABC 70% Australian United Challenger Capital Notes CGFPA 60% Abacus Property Group ABP 60% Investment Company AUI 70% Challenger Capital Notes 2 CGFPB 60% Audinate Group AD8 40% Aventus Retail Property Group AVN 50% Challenger Capital Notes 3 CGFPC 60% Adairs ADH 40% Alumina AWC 70% Charter Hall Group CHC 70% APN Industria REIT ADI 40% Accent Group AX1 40% Champion Iron CIA 50% Australian Ethical Amaysim Australia AYS 40% Cimic Group CIM 70% Investment Limited AEF 40% Aurizon Holdings AZJ 75% Carlton Investments CIN 50% Australian Foundation Bapcor BAP 60% Centuria Industrial REIT CIP 60% Investment Company AFI 75% Baby Bunting Group BBN 40% Collins Foods CKF 50% Ainsworth Game Technology AGI 40% Bendigo & Adelaide Bank BEN 70% Class CL1 40% AGL Energy AGL 75% Bendigo & Adelaide Bank BENHB 65% Clean Teq Holdings CLQ 40% AGL Energy USFDS AGLHA 75% Bendigo & Adelaide Bank CPS BENPE 65% Clover Corporation CLV 40% Automotive Holdings Group AHG 55% Bendigo & Adelaide Bank CPS BENPF 65% Charter Hall Long Wale REIT CLW 60% Asaleo Care AHY 50% Bendigo & Adelaide Bank CPS BENPG 65% Centuria Metropolitan REIT CMA 50% Auckland International Airport AIA 70% Bell Financial Group -
Pendal Monthly Commentary Pendal Australian Listed Property Portfolio December 2020
Pendal Monthly Commentary Pendal Australian Listed Property Portfolio December 2020 Market commentary Portfolio overview Australian Listed Property Portfolio The Australian Real Estate Investment Trusts index was Investment The strategy employs a bottom up, up 0.4% in December, underperforming the broader strategy fundamental approach to build a diversified portfolio of Australian listed property shares. market by 80bp. Investment The objective of the Model Portfolio is to Year-rolling, AREITs are down 4.6%, underperforming objective outperform the S&P/ASX 300 A-REIT the broader market by 6%. Globally REITs (USD terms) (Sector) (TR) Index on a rolling 3 year period. were up 3.2% for the month and down 9.2% year-rolling. Benchmark S&P/ASX 300 A-REIT (Sector) (TR) Singapore (-0.8%) was the best-performing market and Number of stocks 8-15 (15 as at 31 December 2020) New Zealand (-25.4%) the worst. Sector limits Cash 2-10% The best-performing REITs for the period included Dividend Yield 4.26%# Charter Hall Group (+8.5%) which announced a consortia of Charter Hall managed funds had acquired Top 10 holdings the David Jones Elizabeth Street Sydney store for $510 Code Name Weight million on an initial yield of 5%. BWP Trust (+4.6%) and MGR (+4.1%) were also very strong, both on no news. GMG Goodman Group 24.29% MGR Mirvac Group 9.12% The worst performers were Abacus Property Group (-7.3%) following the announcement of a 1:4.8 SCG Scentre Group 8.88% accelerated non-renounceable equity issue, raising $402 DXS Dexus Property Group 8.78% million to provide the group with $911 million of balance CHC Charter Hall Group 7.88% sheet capacity for acquisitions and development. -
Thursday 2Nd-Round Singles Matches
TATA OPEN MAHARASHTRA – ATP MEDIA NOTES DAY 4 – THURSDAY 6 FEBRUARY 2020 Balewadi Stadium | Pune, India | 3 – 9 February 2020 ATP Tour Tournament Media ATPTour.com maharashtraopen.com Mark Epps: [email protected] (ATP PR) Twitter: @ATPTour @MaharashtraOpen Udita Dutta: [email protected] (Media Desk) Facebook: @ATPTour @MaharashtraOpen TV & Radio: TennisTV.com FEDEX ATP HEAD 2 HEADS: THURSDAY 2ND-ROUND SINGLES MATCHES CENTRE COURT Taro Daniel (JPN) vs [6] James Duckworth (AUS) First Tour Level Meeting Other meeting 14 Charlottesville CH (U.S.A.) Hard QF James Duckworth 6-1 6-2 Daniel Summary | Age: 27 | World No. 102 | Career-High No. 64 | 13-18 in 2019 (Marrakech, Geneva, Tokyo QF) • In 2020, won Burnie Challenger in Australia without dropping a set (d. Hanfmann in F). • Lost in 1R of qualifying at Australian Open (l. to Milojevic). • In 2019, advanced to QFs at Marrakech (l. to Simon), Geneva (l. to Jarry) and Tokyo (l. to Millman) • Snapped 6-match tour-level losing streak at Australian Open (d. Kokkinakis, l. to Shapovalov in 2R). • LL at Brisbane (l. to Tsonga in 2R), Sydney (l. to Thompson in 2R) and Monte-Carlo (l. to Kohlschreiber in 1R). • Led Japan to 3-2 road win over China in Davis Cup Qualifiers (d. Zhang Ze and Li). • Reached QF at 6 consecutive Challenger events but failed to make SF. Duckworth Summary | Age: 28 | World No. 96 | Career-High No. 82 | 49-18 at Challenger level in 2019 (4 titles) • In 2020, earned 1st tour-level win since 2018 Washington by defeating Delbonis in Auckland 1R (l.