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.
A new report has been released this week.
The wrap investment platform has added new managed portfolios to its menu.
The current funding model has been in place for five years.
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.