Skip to main content

Finance & Investment

Is an SMSF the way to pump up retirement funds?

INVESTMENT By Boyd Brown >>

HOW can you best set yourself up for retirement? This is a question we are asked constantly in our InvestorWise Financial business.

Refreshingly though, it is not just the baby boomers and ‘generation-X’ considering how they will finance and structure their retirement. We are seeing an increase in younger people, particularly members of ‘generation-Y’ contemplating their financial futures and looking for non-mainstream solutions.

A topical and increasingly popular option is a Self Managed Super Fund (SMSF). With the subject constantly featuring in finance industry news, with statistics about successful and sometimes not-so-successful results, I thought it best to get down to the basics of what an SMSF is all about. 

By definition, an SMSF is a form of superannuation fund allowing its members greater control over their retirement savings. The members run their fund for their own benefit and are responsible for complying with superannuation and tax laws.

In comparison, a traditional retail or industry super fund is managed on behalf of the member.

Establishing an SMSF is fast becoming one of the ‘must-have accessories’ as the baby boomer generation begins to exit the workforce en masse to enter retirement.

At our financial planning and consulting business, we are regularly approached with questions on whether an SMSF is a viable alternative for retirement savings.

The short answer is, it can be viable in the right circumstances, however it isn’t suitable for everyone.

INVEST TIME AND MONEY

As with any investment that can provide a successful result, managing an SMSF takes time and money – and you need to ensure you have both.

An increasing number of people are taking control of their super and the Australian Taxation Office (ATO) revealed at the end of June 2014 there were around 534,000 SMSFs in Australia. This represents a significant 25 percent growth in the past five years, equating to around $557 billion in assets and nearly one-third of all superannuation money held by Australians.

This makes SMSFs the largest sector based on assets, exceeding retail, industry and public sector funds.

This growth has been influenced by people wanting to ascertain an element of control through having a greater degree of involvement in the decision making process of their retirement fund.

Another reason people might consider an SMSF is if they have a desire to fund retirement using specific assets, such as direct shares or property, that are not available in more traditional super funds.

An SMSF can have up to four members and combining assets allows for greater flexibility and economies of scale.

Transparency of tax arrangements and succession or estate planning considerations also figure prominently as key factors in the decision making process. Inter-generational transfer of wealth is becoming a hot topic and an SMSF can offer greater certainty, especially when an insurance payout is made to a non-fund member.

In our business we dedicate time to counselling people to uncover their motivations and objectives, to ensure they are making an informed decision and not getting caught in the hype, or just wanting to keep up with their friends.

Acting in the best interests of our clients, we ensure they are fully aware of the pros and cons and all the alternatives.

First of all, to be eligible for the tax concessions available to a complying super fund, the trustees must ensure their fund complies with the ‘sole purpose test’. This means the SMSF must be maintained solely for the purpose of providing retirement benefits for its members.

Trustees must adhere to the Superannuation Industry (Supervision) Act (SIS Act). Separate to the sole purpose test, binding rules of this Act require trustees to always act honestly, money and assets of the fund must be kept separate from all other personal or business money and assets (this includes loans to members or their relatives) and must keep accurate records and lodge annual tax statements.

SMSFs are generally prohibited from acquiring assets from related parties. There are exceptions to the rules and they relate to business real property, used wholly for business purposes and listed securities.

While trustees can engage the services of other professionals, ultimate responsibility remains with the trustees. In cases of significant or sustained breaches, the ATO has the power to impose severe punitive penalties.

WHO SMSFS WORK FOR

Experience tells me there are two types of people who want to establish their own super funds.

First, there are those who have the time, knowledge and experience to manage their own monies. In most cases these people take on a more ‘hands on’ role with the management of their affairs by doing what is required to educate them.

Second, there are those who understand the benefits of running their own fund but do not have the time or desire to do it themselves. These people see the benefits in outsourcing assistance to manage some or all of the administration and investment process from a qualified professional such as a financial adviser, accountant or administrator, who will work in partnership with them.

It is difficult to quantify how much time is needed to manage each SMSF as it depends on the assets owned by the fund and whether the members are in accumulation or pension phase.

For example, if an investment property is an asset of the fund there will be management of tenants, rent and expenses.

Members need to establish how regularly they should review the fund, with an important consideration being liquidity or the ability to cover all expenses.

In our business, we mainly work with the second group, providing a total solution administration and investment service. Clients deal directly with our office and we coordinate all aspects of the process including the initial set up, preparation and implementation of the fund’s investment strategy.

We provide tailored investment advice, open bank accounts and liaise with the fund administrator and auditor on all issues, including the preparation and delivery of end-of-year tax statements for the fund.

Our services include undertaking a risk profiling exercise with each member of the fund, to determine his or her individual risk tolerance, before preparing an investment strategy. This should not be a ‘set and forget’ process and is revisited at least once a year.

TRENDING YOUNGER

As mentioned earlier, we are seeing an increase in interest from our ‘generation-Y’ clients who are placing more consideration into their retirement fund. They want to take back control of their super, which means we are seeing the minimum amount to establish an SMSF reduce.

While $250,000 seems an optimal level where there can be economies of scale, the establishing amount can be less.

We recently established a new fund with $100,000 for a couple where they undertook an aggressive contribution strategy over a short time frame to boost their fund balance.

One of the attractions of an SMSF is how you can use some funds to invest in property.

This can be done using what is called a Limited Recourse Borrowing Arrangement (LRBA). These arrangements have been growing in popularity as they can enable an SMSF to acquire investments it may not have the money to purchase outright.

There are some technical rules that make this type of borrowing different from any other type of lending and these need to be understood before implementing this strategy.

When considering using an SMSF for this purpose, the same questions need to be asked as you would with any other form of borrowing: Is it a worthwhile investment? Can the debt be fully serviced? Is there a borrowing strategy in place? And, most importantly, will it meet the retirement objectives of the members?

The opportunities, responsibilities and challenges that come with establishing an SMSF may be daunting for some people, so it is important to seek professional advice before you decide whether or not it is right for you.

As with all investment decisions, doing your homework is the key.

An SMSF is an investment in your financial future, so if you are prepared to take the time to understand how it can work for you and you follow the rules, the benefits should follow.

www.investorwise.com.au

 

Boyd Brown is the principal and financial adviser of Brisbane-based InvestorWise Financial. For 23 years InvestorWise has focused on helping individuals, families and business owners achieve financial freedom. Boyd Brown is an authorised representative of Financial Wisdom Limited and an associate member of the SMSF Professionals Association of Australia.

*

Note: The information contained in this article by Boyd Brown of InvestorWise is general in nature. While care has been taken in its preparation, no liability is accepted by Financial Wisdom, its related entities, agents and employees for any loss arising from reliance on this document. This document contains general advice. It does not take into account readers’ individual objectives, financial situation or needs. Readers should consider talking to a financial adviser before making a financial decision.

 

ends

Australian SMEs moving to ‘disruptive’ finance?

EXTRA >>

AN ENDURINGLY tough business finance environment and tight business bank criteria are seeing Australian small business leaders cautiously embracing disruptive finance.

Those are the findings of a recent report by The Invoice Market, whose research found “early signs that small to medium businesses are turning to disruptive solutions to solve common financing and cashflow problems”.

The report found long payment terms and difficulty accessing bank loans were the main factors driving SMEs’ search for better forms of finance. Factors such as these had produced speculation about non-traditional organisations that have other relationships with small business, such as telcos and big technology companies, coming into the market with finance products.

Internet-led short-term loan models, such as that of Nimble, could soon make their way into the small business arena. Crowdfunding was already having a significant impact for early-stage companies. In the past two years, the Australian market had seen more growth in alternative funding than over the past decade, the report showed.

The Invoice Market managing director, Angus Sedgwick said those who had not yet explored new models were generally feeling the credit squeeze, with 40 percent accessing funds through traditional forms of debtor finance “and a worrying 32 percent” saying they would be forced to use their personal savings or equity in the family home.

The report, Cash Flow Issues Drive Aussie SMEs to Disruptive Solutions, has confirmed anecdotal evidence from chambers of commerce and business associations. The research took in information from the NSW Business Chamber of Commerce, the Australian Bureau of Statistics and the RBA Small Business Finance Roundtable. The survey was conducted by phone, randomly among small businesses around Australia – but is limited by its respondent sample size of just 111 businesses.

“The move to disruptive financing models is a clear vote against the onerous and inflexible terms banks and other types of financing levy on SMEs,” Mr Sedgwick said.

“The internet is creating efficient markets. This is an exciting time to be in business in Australia.”

Mr Sedgwick said business finance could often be expensive, inflexible and unsuitable

“Just over 40 percent of the businesses in our survey said they’d turn to traditional debtor finance, with its flexibility compared to bank finance being the key benefit,” Mr Sedgwick said.

“But there are another 60 percent who wouldn’t have access even to this type of factoring, due to requirements that their invoices be spread across a certain minimum number of clients or based on geographical limitations.

“These are good businesses, but their risk profile is just too high for the institutions. Agility and creativity is key to servicing these businesses.

“Online models which connect businesses with investors are just one of the ways the issue is being addressed,” he said.

“It’s the same story in loans. SMEs in the early growth phase don’t meet the traditional debt funding qualification criteria, a situation which is only going to get worse if and when capital requirements increase.

“Fifty-two per cent of businesses told us they’re worried about how changes to bank capital requirements might make it even harder to get funding. So they’re looking to alternative forms of loan to fund their business.

“This is where peer-to-peer and crowd-funded equity-raising are really going to shine.”

Mr Sedgwick said the pressure was coming down the line on traditional funding from dispruptive sources.

“Disruptive platforms know that conditions are right for business to turn to them in droves,” he said.

“The number of disruptive finance providers entering the market has doubled over the last two years. With only 11 percent of businesses already looking to disruptive solutions, there’s definitely room to grow.

“The next boom in Australia could be driven by SMEs access to cash,” Mr Sedgwick said.

Mr Sedgwick said The Invoice Market operated as an online auction platform “which creates an efficient marketplace for invoice factoring”.

He said the platform matches businesses requiring cash flow funding with institutional and high-net-worth ‘sophisticated’ investors willing to provide working capital and cash flow finance.

He said The Invoice Market launched in Australia in June 2014 and has funded  more than $10 million in invoices up to September.

The report can be downloaded here.

www.theinvoicemarket.com.au

 

KEY FINDINGS

Two out of three businesses said lack of financing was affecting their ability to grow;

52% are concerned that reforms to the banking sector are going to make it harder to get a loan;

70% said long invoice payment terms were negatively affecting their cashflow;

The number of tech-enabled disruptive financing instruments in Australia has doubled over the past two years;

11% of SMEs are turning to disruptive financing instruments.

 

ends

AdNear raises US$19m for world expansion

EXTRA >>

ADNEAR, which describes itself as a ‘location intelligence company’, has raised US$19 million from Telstra Ventures and Global Brain to boost its expansion into a range of ocountries.

AdNear’s existing investors, Sequoia Capital and Canaan Partners, also participated in the capital raising round.

AdNear CEO, Anil Mathews said, “We’re thrilled to be joined by investors such as Telstra Ventures and Global Brain in this journey. Our proprietary technology enables us to help major brands across Asia Pacific fine-tune their consumer targeting by having access to real-time location intelligence.

“Location data-driven insights are extremely powerful and marketers can use these data points to understand consumer behaviour and also build customised campaigns as per their target audience.

“We are constantly experimenting with location datasets for various use-cases and will be productising some of these in the coming months,” Mr Matthews said.

Mr Matthews said the basis of AdNear’s business was insights it had gathered from anonymous device users across Asia Pacific, using their historical location footprint and real-world offline data. Leveraging these unique insights, Mr Matthews said AdNear was able to programmatically send relevant ads to mobile audiences on behalf of advertisers using its proprietary real-time bidding platform.

ANear has rapidly grown its client base to include brands such as P&G, Woolworths, Audi, Unilever, BMW, Ford, Samsung, IKEA, and Adidas.

“Mobile advertising continues to grow rapidly across Asia Pacific,” said Telstra Ventures managing director Mark Sherman. “Telstra Ventures recognises the value that AdNear’s probabilistic, data-driven approach brings to advertisers and we’re excited to be able to provide capital to accelerate the expansion of AdNear’s operations.”

Mr Sherman has joined the AdNear board of directors. AdNear currently has operating offices in Sydney, Singapore, Bangalore, San Francisco and Jakarta.

www.adnear.com

 

ends

Aust. SMEs moving to ‘disruptive’ finance?

AN ENDURINGLY tough business finance environment and tight business bank criteria are seeing Australian small business leaders cautiously embracing disruptive finance.

Those are the findings of a recent report by The Invoice Market, whose research found “early signs that small to medium businesses are turning to disruptive solutions to solve common financing and cashflow problems”. 

The report found long payment terms and difficulty accessing bank loans were the main factors driving SMEs’ search for better forms of finance. Factors such as these had produced speculation about non-traditional organisations that have other relationships with small business, such as telcos and big technology companies, coming into the market with finance products.

Internet-led short-term loan models, such as that of Nimble, could soon make their way into the small business arena. Crowdfunding was already having a significant impact for early-stage companies. In the past two years, the Australian market had seen more growth in alternative funding than over the past decade, the report showed.

The Invoice Market managing director, Angus Sedgwick said those who had not yet explored new models were generally feeling the credit squeeze, with 40 percent accessing funds through traditional forms of debtor finance “and a worrying 32 percent” saying they would be forced to use their personal savings or equity in the family home.

The report, Cash Flow Issues Drive Aussie SMEs to Disruptive Solutions, has confirmed anecdotal evidence from chambers of commerce and business associations. The research took in information from the NSW Business Chamber of Commerce, the Australian Bureau of Statistics and the RBA Small Business Finance Roundtable. The survey was conducted by phone, randomly among small businesses around Australia – but is limited by its respondent sample size of just 111 businesses.

“The move to disruptive financing models is a clear vote against the onerous and inflexible terms banks and other types of financing levy on SMEs,” Mr Sedgwick said.

“The internet is creating efficient markets. This is an exciting time to be in business in Australia.”

Mr Sedgwick said business finance could often be expensive, inflexible and unsuitable

“Just over 40 percent of the businesses in our survey said they’d turn to traditional debtor finance, with its flexibility compared to bank finance being the key benefit,” Mr Sedgwick said.

“But there are another 60 percent who wouldn’t have access even to this type of factoring, due to requirements that their invoices be spread across a certain minimum number of clients or based on geographical limitations.

“These are good businesses, but their risk profile is just too high for the institutions. Agility and creativity is key to servicing these businesses.

“Online models which connect businesses with investors are just one of the ways the issue is being addressed,” he said.

“It’s the same story in loans. SMEs in the early growth phase don’t meet the traditional debt funding qualification criteria, a situation which is only going to get worse if and when capital requirements increase.

“Fifty-two per cent of businesses told us they’re worried about how changes to bank capital requirements might make it even harder to get funding. So they’re looking to alternative forms of loan to fund their business.

“This is where peer-to-peer and crowd-funded equity-raising are really going to shine.”

Mr Sedgwick said the pressure was coming down the line on traditional funding from dispruptive sources.

“Disruptive platforms know that conditions are right for business to turn to them in droves,” he said.

“The number of disruptive finance providers entering the market has doubled over the last two years. With only 11 percent of businesses already looking to disruptive solutions, there’s definitely room to grow.

“The next boom in Australia could be driven by SMEs access to cash,” Mr Sedgwick said.

Mr Sedgwick said The Invoice Market operated as an online auction platform “which creates an efficient marketplace for invoice factoring”.

He said the platform matches businesses requiring cash flow funding with institutional and high-net-worth ‘sophisticated’ investors willing to provide working capital and cash flow finance.

He said The Invoice Market launched in Australia in June 2014 and has funded  more than $10 million in invoices up to September.

The Invoice Market report can be downloaded here.

www.theinvoicemarket.com.au

 

KEY FINDINGS

Two out of three businesses said lack of financing was affecting their ability to grow;

52% are concerned that reforms to the banking sector are going to make it harder to get a loan;

70% said long invoice payment terms were negatively affecting their cashflow;

The number of tech-enabled disruptive financing instruments in Australia has doubled over the past two years;

11% of SMEs are turning to disruptive financing instruments.

 

ends

ATO's bitcoin rules to drive tax evasion?

EXTRA >>

TAXPAYERS Australia has praised the Australian Taxation Office (ATO) for delivering delivered guidance on the tax treatment of bitcoin on August 20, but criticised that it came too little late for people with crypto-currency taxation issues who have already completed their 2013-14 returns.

The ATO has defined bitcoin as an ‘intangible asset’ rather than money or a foreign currency. The ATO has rejected the financial sector’s calls for it to be categorised as a currency. 

Under the ATOs guidance, bitcoin transactions are to be treated like barter transactions with similar tax consequences. There are 13 million bitcoins in circulation around the globe, with a market value of $US6.4 billion. Around 7 percent of bitcoins in circulation are believed to be held by Australians.

While individuals will generally see no income tax or GST implications should they pay for goods or services using bitcoin, or if it is held as an investment, the same is not true for business entities.

Companies that trade in bitcoins or use the digital currency for payments will be required to pay GST on these transactions from the 2015 income year. The tricky area is the treatment of bitcoin as a form of property, so capital gains tax rules apply and there may be fringe benefit tax consequences for businesses using bitcoin to pay employee salaries.

“The potential double tax which might arise appears to put businesses that use bitcoin at a competitive disadvantage, and we have reservations about how sustainable that position is over the longer term — international trends are moving in favour of digital currencies, whether bitcoin or other similar products,” Taxpayers Australia head of tax, Mark Chapman said.

“In regard to CGT on bitcoin transactions when held in individual hands for personal use or consumption, any capital gain or loss on disposal will be disregarded (as a personal use asset) provided the value of the bitcoins is $10,000 or less. However individuals who use bitcoin as an investment may be subject to CGT rules when they dispose of it, as they would for shares of similar assets.

“The major risk with this new guidance is that it will provide an incentive for tax evasion”, Mr Chapman said. “Digital currencies aren’t going away and the complex and counter-intuitive way these rules seek to tax bitcoin may foster a culture of non-disclosure amongst the users of digital currencies.

“Worse still, the concern is that these pronouncements may drive the underground use of the currency, with taxpayers using offshore virtual private network (VPN) connections to acquire the currency. There’s also the risk that our rules end up being overtaken by the more enlightened attitudes adopted in other jurisdictions like the UK, which could hit our ability to be seen as a leader in the digital economy.”

The ATO draft ruling was made as more companies accept bitcoin as a valid form of payment and individuals buy goods globally using the currency. Bitcoin has soared in value to more than $US1,000 a unit from less than $US1 two years ago.

www.taxpayer.com.au

www.ato.gov.au

 

ends
  

BT Financial Group drives ‘wealth platform’ with Avaloq

BT FINANCIAL GROUP is using the Avaloq Banking Suite on its new BT Panorama Operating Platform to create new opportunities for its national and international expansion.

The Avaloq implementation for BT Financial Group’s new Panorama operating system is also Avaloq’s first entry to the global wealth ‘platform’ market. 

BT Financial Group, the wealth management arm of the Westpac Group, successfully reached its first milestone in the implementation of the Avaloq Banking Suite last week, with the platform replacing seven heritage systems. It will allow more than 13,000 BT Financial Group users to manage a broad range of investments via a single application.

The first phase recently went live with the launch of the cash/term deposit component of the platform. The next deliverable, investment platform functionality, is currently being rolled out to the Panorama platform.

“The contribution of Avaloq to the first release of BT Financial Group’s Panorama operating system has been significant,” said BT Financial Group general manager for platforms and operations, John Shuttleworth.

“We are looking forward to continuing this relationship as we roll out this important new phase in Australian financial services.”

Avaloq regional general manager for Asia Pacific, Peter Scott said, “Going live with BT Financial Group is an important milestone in our expansion plans for the region. The progressive adaptation of the Avaloq Banking Suite to the Australian financial ‘platform’ sector, positions us for local growth and other markets.

“We anticipate future interest from the UK and also the Asia Pacific region, where demand for these solutions continues to grow,” he said.

The Avaloq group has developed a reputation for the highest standards in innovative engineering is understood to invest more in research and development (R&D) than any other provider for the financial industry.

Avaloq is positioned as the only independent provider for the financial industry to both develop and operate its own software. Business process and information technology (IT) outsourcing solutions (BPO) are offered from Avaloq’s BPO centres in Switzerland and Germany, while new BPO centres are being set up in Luxembourg and Singapore.

The company employs more than 1,400 banking and IT specialists and has a global customer base of more than 100 financial institutions in over 20 countries, including tier one banks in the most demanding financial centres.

Headquartered in Switzerland, Avaloq has branches in Berlin, Frankfurt, Geneva, Hong Kong, Leipzig, London, Lugano, Luxembourg, Paris, Singapore, Sydney and Zurich. It has development centres in Zurich and Edinburgh as well as a development support centre in Manila.

www.avaloq.com

ends

EXTRA: OneVentures launches second fund

EXTRA: AUSTRALIAN venture capital firm, OneVentures, recently launched the OneVentures Innovation and Growth Fund II, seeking to raise $100 million from institutional investors and high net worth individuals by March 2015.

The fund will invest in a portfolio of emerging Australian companies with global ambitions across healthcare, education, mobile, media, cloud computing and data, security and privacy, machine learning, sensors and robotics, and food security. 

The first OneVentures Innovation Fund, formed as an Early Stage Venture Capital Limited Partnership in 2010, raised $40 million and was supported by $20 million in funding from the Australian Government’s Innovation Investment Fund.

The fund was the first in Australia to tap into a growing trend in the Australian market for high net worth individuals and family offices to diversify their investments towards venture capital filling the gap vacated by institutional investors post-GFC.

Since then, OneVentures has closed three co-investment funds securing $30 million in additional funding for the portfolio.

“The quality of the portfolio OneVentures has assembled over the past four years is one of the best venture capital portfolios I have seen in Australia,” said Caledonia executive chairman Mark Nelson, an investor in OneVentures Innovation Fund.

The fund is trading at a premium after only four years and of its eight portfolio companies two are now operating out of Silicon Valley and one out of Boston, reflecting their successful growth into global markets.

Smart Sparrow recently closed a $10m financing and Hatchtech over $12.5m for US expansion and US FDA phase three studies respectively.

“OneVentures is demonstrating a capability to do deals of global significance,” said OneVentures managing partner, Michelle Deaker.

“Our investors value the technical experience of the partners as well as their proven entrepreneurial and business building experiences in the domestic and international arena,” Dr Deaker said. “The partners also bring experience and networks of relationships to select highly attractive investment opportunities addressing large global markets, and to manage those investments through to the exit stage.”

Dr Deaker believes there has never been a better time for investors to turn their attention to venture capital. While traditional drivers of the economy such as mining and manufacturing are slowing or moving offshore, innovative technology-based companies hold the key to driving Australian economic growth and many are now succeeding on the global stage.

“While the innovation economy has been building, Australia continues to invest substantial capital in R&D and there has been substantial activity and investment in early stage angel syndicates and incubators,” Dr Deaker said.

“However, there is a dearth of capital available to propel those developing businesses forward with later stage development and expansion capital.

“This dynamic should create downward pressure on valuations and generate scope for superior returns. We see no reason why Australia’s entrepreneurs, with the assistance of experienced venture capital firms like OneVentures, cannot compete successfully in global markets. For investors, the fund provides an opportunity to truly diversify a portfolio and gives access to emerging businesses with true breakout potential.”

OneVentures has many portfolio successes under its belt.

In 2013, Melbourne-based Hatchtech closed a $12.6m capital raising to fund phase three trials for its proprietary head lice treatment.

Paloma Mobile, based in Sydney and UK, is forming key strategic partnerships with telecommunications companies in the rapidly growing emerging economy telecoms markets such as Indonesia and Malaysia.

OneVentures recently picked up an award for Best Venture Capital deal at the World Vaccine Congress in Washington DC for Vaxxas which acknowledged the deal structure, quality of syndicate and opportunity.  The technology behind Vaxxas was awarded Australian Innovation of the year in 2012.

In addition to investments made directly out of the fund, OneVentures has also secured more than $30m in co-investments for its portfolio companies, leveraging its network of investors both nationally and internationally.

www.one-ventures.com.au

 

DEAN HAWKINS JOINS

OneVentures has also announced that Dean Hawkins was joining the firm as a partner.

Mr Hawkins has led international businesses at the forefront of TV, media, broadband, apparel and sports industries for the past 18 years, working in UK, Germany, Holland and Switzerland, including four years as global CFO and board member of Adidas, based in Germany, during which time Adidas grew its market capitalisation from €1.5b to €8b.

Since his return to Australia, he has served as chairman of International News Network Ltd (Hong Kong), and non-executive director Ten Network Holdings, Apparel Group, Leighton Contractors and I-Med Australia.  As chairman of compression garment company, Skins, he oversaw the expansion of the group sales into 30 countries world-wide including a joint venture in China.

Mr Hawkins commenced his career in investment banking with UBS and was chosen by Global Finance Magazine as one of its 'Global Corporate Finance Superstars'. He has also led a number of media organisations, collecting Emmy and BAFTA awards along the way.

Commenting on the appointment, Dr Deaker said, “Mr Hawkins complements the skills of the partners and his experience in both high growth and established businesses will be invaluable for our portfolio companies.  Mr Hawkins brings a new dimension to our team with a strong finance, M&A background and international commercial and cross-border experience. The international experience of our team is showing a marked impact on our portfolio performance as they expand into global markets and prepare for exit.”

ends

POSTED JULY 23, 2014.

More Articles …