POWERED BY MOMENTUM MEDIA
Link Group sells Asset Services division to Apex
Link Administration Holdings (Link Group) has entered into an agreement to sell its Corporate and Private Clients (CPCS) business, part of its Link Asset Services division, to global fund administrator, Apex Group for £240 million.
The transaction, which was still subject to mandator regulatory approvals, was expected to be completed by 30 September this year.
Link Group managing director, John McMurtie, said while CPCS was a successful and robust business, the firm concluded that the business would better achieve its potential under different ownership.
“Like CPCS, Apex focuses on high client service levels,” said McMurtie. “Apex has emphasised the strategic fit of the CPCS business with the other businesses owned by them and the benefits this will provide to CPCS staff and clients.”
McMurtie also said on completion of the sale, the net cash proceeds would be used to provide Link Group with a stronger and more flexible balance sheet.
“Link Group’s revolving debt facility means any headroom created by debt reduction remains available to support future acquisitions in accordance with Link Group’s growth strategy.”
Recommended for you
Taking a purely passive investment approach is leaving many investors at risk of heightened valuation risks, Allan Gray and Orbis Investments have cautioned.
Annual trimmed mean inflation saw a slight spike in April, according to data from the ABS.
Active managers say that today’s market volatility and dislocation are creating a fertile ground for selective stock picking, reinforcing their case against so-called “closet indexers”.
Platform leaders admit they’re operating under constant pressure and a persistent “state of paranoia” to keep pace with technology that is reshaping how clients access and interact with their wealth.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
