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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
Add BT as a preferred sourcePublished Wed, Dec 10, 2014 · 09:50 PM
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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