ASX 200 goes up, Macquarie goes up, Rural Funds launches fundraising on Thursday July 8, 2021


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The S & P / ASX 200 Index (ASX: XJO) rose around 0.2% today to 7,341 points.

Here are some of the highlights of the ASX:

Macquarie today announced that Macquarie Asset Management will acquire AMP Capital’s global equity and fixed income (GEFI) businesses, including fixed income, Australian listed equities, listed real estate and listed infrastructures, for a purchase price of up to $ 185 million.

The AMP business GEFI currently manages approximately $ 60 billion in assets under management (AUM) for AMP Australia as well as for institutional, retail and external direct clients. As a result of the transaction, Macquarie Asset Management’s pro forma assets under management will be approximately AU $ 720 billion.

Ben Way, Director of Macquarie Asset Management, said:

This transaction represents another opportunity, following our recent acquisition of Waddell & Reed, to gain momentum and expand our public investment capabilities. It consolidates Macquarie’s position as Australia’s premier investment manager by AUM and provides new AMP Capital clients with access to Macquarie’s diverse investment offerings and global platform. Customers will be at the center of our considerations as we work closely with AMP on a successful integration.

Macquarie’s stock price ended the day up 0.4% and AMP’s stock price rose about 0.5%.

ASX 200 Agricultural Real Estate Investment Trust (FPI) Rural Funds saw its shares halt today to announce a fundraiser.

He is making an accelerated non-waivable pro-rata entitlement offer of 1 for 8.4 to raise $ 100 million.

Rural Funds explained that in fiscal years 20 and 21, it acquired $ 104 million in land and water in Rockhampton, Bundaberg and Maryborough for the development of 5,000 hectares of macadamia orchards. Planting has started in Maryborough, with 500 hectares to be planted by November 2021. An additional 500 hectares will be planted by June 2022. Fundraising will help finance these developments.

The money will also be used for acquisitions. It is seeking to acquire other cattle properties that may have a potential for productivity development similar to that of the existing cattle properties of Rural Funds.

Rural Funds also said $ 38.4 million would be used to purchase water rights in the NSW Riverina, which are leased to a private farming company for five years. Rural Funds said he believes the demand for potable water in this region will increase in the long term, as permanent plantings such as almond orchards continue.

The capital raise price is $ 2.47, a 5% discount from the last Rural Funds closing price on July 7, 2021.

Rural Funds confirmed its planned distribution for FY22 of 11.73 cents per unit, an increase of 4% over FY21.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price fell around 1% today.

Corporate bookmaker ASX 200 has announced that it has named the great and future NFL Hall of Fame, Drew Brees, as the global brand ambassador.

Pointsbet said that Brees, who is starting a career in broadcasting with NBC Sports, will deepen the relationship between NBC Sports and Pointsbet as the company continues to grow and realize the growing online sports betting opportunity in North America.

Brees will play the lead role and help develop original content for Pointsbet, providing education and commentary on sports betting, hosting events, and guiding marketing and promotion concepts, among other areas.

Mr. Brees will receive 202,940 Pointsbet shares, paid up in equal proportions after one year, two years and three years from the date of issue.


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