A $3.5 billion fund manager and investment adviser has entered administration, with Ferrier Hodgson appointed administrator.
According to an ASIC insolvency notice, Oakvale Capital Limited – which operates its own AFSL and trades under the name Oakvale Treasury – entered administration on 23 July with the first meeting of creditors held today.
The Oakvale Treasury website explains that the company offers a range of risk advisory and fund management services to a “diverse range of corporate, financial and government institutions” and has approximately $3.5 billion in funds under advisory management.
The company holds Australian Financial Services Licence no. 229842.
More to come.
SUBSCRIBE TO THE IFA DAILY BULLETIN
17 Nov 2017Adviser regulation loosens under TrumpBy Aleks Vickovich
17 Nov 2017Advisers called on to drive ESG discussionBy Jessica Yun
17 Nov 2017Managed Accounts completes Linear acquisitionBy Staff Reporter
17 Nov 2017Zurich takes out AFA Consumer Choice awardBy Aleks Vickovich
16 Nov 2017Bell Potter pays $360k fineBy Staff Reporter
16 Nov 2017SSM vote highlights LGBTI advice issuesBy Aleks Vickovich
- view all