OneVue confirms preliminary bids for Madison
The sale of Madison Financial Group is on track to be completed in April, amid news from OneVue Holding Limited that voluntary administrators have been appointed to Sargon Capital Pty Ltd.
OneVue announced to the Australian Securities Exchange today that it had received notification of the appointment of voluntary administrators to Sargon Capital Pty Ltd with the first creditors meeting for Sargon Capital to be held on 18 March.
It said the appointment of voluntary administrators to Sargon Capital should enable OneVue to gain more visibility on the extent of any securities held.
It said that in relation to the voluntary administrators of various Sargon subsidiaries the terms of a potential transaction including the consideration and purchase information had not yet been formally disclosed with a second creditors meeting to take place today.
The OneVue announcement said the sale of Madison Financial Group over which OneVue has a 100% secured interest is progressing with a number of preliminary bids placed.
“The process is on track to complete in April,” it said.
Recommended for you
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
Responsible investment performance concerns have lessened as the market hits $1.6 trillion in AUM, according to RIAA’s annual report, but greenwashing fears among asset managers are on the rise.
Research by Morningstar has found fixed income funds are bucking a general trend around managed fund fee dispersion with a smaller fee dispersion compared to equity ones.
As investors seek to diversify their portfolios, the naming of bond labels has broadened out to include green, social and impact bonds, according to the annual RIAA report.
