Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
News
17 July 2025 by Miranda Brownlee

Evergreen funds offer opportunities and trade-offs, warns consulting firm

Evergreen and semi-liquid fund structures have simplified access to private markets but their liquidity profile can pose potential risks, according to ...
icon

Resilient sharemarkets drive double-digit returns for super funds

Super funds have achieved strong returns over FY2024–25 despite recent trade tensions and concerns in the Middle East, ...

icon

Major bank stocks showing signs of ‘frothy valuations’: Morningstar

The majority of banks have run ahead of fundamentals with the Commonwealth Bank especially overvalued, Morningstar ...

icon

Why fund managers aren’t deterred by the recent tech pullback

Despite a slow start to 2025, experts say they’re optimistic about the sector’s long-term future – particularly ...

icon

La Trobe Financial announces new head of distribution

La Trobe Financial has appointed a new head of distribution across their asset management division, bolstering the ...

icon

Zenith and Lonsec lose senior staff to investment consultancy

Investment consultancy Ascalon Capital has looked to research houses for hires, appointing one each from Zenith ...

VIEW ALL

Ausbil Dexia takes away ownership concerns

  •  
By
  •  
4 minute read

Ausbil Dexia has addressed concerns over its ownership structure.

Ausbil Dexia does not expect its majority shareholder, Dexia Group, to sell down its 70 per cent interest in the firm, after the Belgian financial group reconfirmed its commitment to investment management.

"They have reconfirmed that they are committed to investment management. And they certainly do like our business very much," Ausbil Dexia chief executive Paul Xiradis said.

Dexia holds a 70 per cent interest in the firm through its division, Dexia Asset Management, while the rest is held by key staff in the firm.

Dexia Group was hit hard during the financial crisis, partly because of its exposure to sub-investment-grade debt in the United States through its bond insurance unit, FSA.

 
 

As a result, Dexia received financial support from the Belgian government and has been restructuring its business, selling off a number of units including a majority shareholding in FSA.

Concerns were raised over Dexia's ownership stake in Ausbil, after the Belgian group sold its underlying lending operations in Australia.

But Xiradis said he had no indication that Ausbil Dexia's ownership was under review.

"I'm not expecting any change in a hurry," he said.

"But things are always fluid and if there was to be a change, then I believe local management could address that fairly quickly.

"Local management and the other owners are very pleased with the business and I'm sure that if the opportunity arose for local management to acquire a greater holding, they would do so. But no-one is a forced seller and no-one is a forced buyer."

The pressure on Dexia Group to make further divestments also decreased after the stress test conducted on European banks at the end of July found Dexia would be able to withstand further shocks to the financial system.

This prompted Belgian financial regulator CBFA to issue a statement declaring Dexia would not have to take further measures to boost its capital position.