Asset Firm Lures Australia’s Rich to Loans to Replace AT1 Bonds

Australia-listed investment firm Income Asset Management Ltd. is launching so-called managed accounts for wealthy locals to invest directly in corporate loans to replace the soon-to-be scrapped contingent convertible securities.

Syndicated facilities are typically only available to institutional investors due to the high minimum entry levels, IAM’s head of sales capital markets Jenna Hayes said in an interview Wednesday. But the firm is giving private clients access to these deals by packaging smaller allocations, Hayes said, adding a managed account is an investment portfolio that is owned directly by an investor.

Jenna Hayes

Source: Income Asset Management

“We are trying to focus on high-quality syndicated loans, ...