Investors step up funding as Australian banks waver
They take on more credit risks to sustain returns after central bank cuts benchmark interest rates to record lows
Sydney
AUSTRALIAN bond yields near record lows are encouraging wealthy investors to lend to owners of properties from offices to shops and nursing homes, spurring a revival for non-bank financing.
Chifley Securities Pty is the latest entrant seeking to carve out a niche as the nation's biggest banks adhere to tighter standards. It was established last month with an initial pool of A$480 million (S$525 million) from Australian, Chinese and European private investors.
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