PIR to list agri schemes on regional exchange
PIR Research Group has launched a new market for agribusiness and property-based managed investment schemes on the Bendigo Stock Exchange (BSX).
No details have been released about which schemes will be listed on the Victorian regional exchange, but PIR claims it has the support of project managers, industry analysts and major broking houses.
PIR executive manager Tim Bennett says there is an “urgent need to provide investors with a superior valuation and liquidity mechanism”.
“These markets will benefit investors by providing a regulated trading environment, a source of up-to-date project information, and valuations,” he says.
BSX managing director Frank Dunphy says there is a lot of hard work ahead to develop these markets, but he believes they will benefit both investors and project managers.
“Managed investment models have been used widely for managed equity funds, property, and agribusiness-related investments,” he says.
“The potential success of unlisted assets of this nature will be improved by the creation of a liquid market, and by the disclosure benefits provided within a regulated market.”
Investors will be able to buy and sell assets in agribusiness and property funds using licensed brokers.
“It will provide both investors and managers with an invaluable liquidity and valuation mechanism,” Dunphy says.
The agribusiness and property markets on the BSX will be provided with research data on all listed projects in the form of an information service or in published report format.
PIR will provide the research data, however, it will not be involved in listing applications in order to maintain its independence.
“The availability of PIR research and market data will allow investors to make informed decisions on buying and selling these assets, with confidence,” Dunphy says.
“Over time, indices will be developed that will allow far deeper research on the market sectors, and will also open the way for professional investors to acquire assets in these classes.”
Recommended for you
The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered.
Rather than taking a controlling approach, the latest generation of overseas private equity deals is helping advice firms to achieve their growth ambitions, three commentators have said.
Private wealth firm Fitzpatricks Group has appointed a newly created head of product, who previously spent 20 years at CFS, to bolster its range of investment options.
The Financial Services and Credit Panel has made a written direction after advice regarding non-concessional contributions meant an individual was forced to withdraw over $330,000 from their super.
