Overview
Trustees Australia Limited (formerly Queensland Trustees) is an ASX listed public company with a strong focus on developing its interests in the financial services sector in Australia. Since raising about $3 million in capital and listing in 1987, it has maintained its philosophy of being a counter-cyclical investor and been able to successfully adapt its skills base to a diverse range of businesses from hospitality management, property development and syndication to retailing, corporate recovery and financial services.
In 1993, towards the end of the severe global recession of the early 90's, QTI reported consolidated negative assets of approximately $8 million and had borrowings in excess of $60 million. At 30 June 2009, without raising any further capital from shareholders and after distributing more than $6 million back to shareholders as capital reductions and some dividends, the company has some $21 million in net assets with no borrowings. This represents net tangible asset backing per share of 60 cents, although the market price has traded at a significant discount in recent years.
In recent years its investment emphasis has progressively changed from property and hospitality to revert to its financial services and investment management background. Trustees Australia has concentrated on acquiring and developing a range of investment facilitation tools for the retail and mid-tier investor market and their advisers, to assist them to provide efficient and reasonably priced advice via modern web-based technology platforms.
Additionally, Trustees Australia retains its long term interests in property and backpacker operations at Airlie Beach.
Trustees Australia also looks to take strategic investment positions in underperforming listed entities where the Trustees Australia board believes that it can work together with existing boards to help bring about improvement in financial and cultural performance, ideally via board representation, for the benefit of all shareholders of the investee entities and as a consequence of Trustees Australia shareholders.
Please refer to the Business Interests page and Company Announcements page for more detail of Trustees Australia recent activities.
Financial Services - Areas of Interest
Trustees Australia's areas of interest in financial services include the following primary activities:
- Custodial, trustee and responsible entity services, corporate services and administration for pooled funds management in a range of investment segments including superannuation, property, equities and fixed income and various types of managed investment schemes;
- portfolio management and administration tools in property, equities and fixed income segments for individual investors, self managed funds and financial advisers;
- public offer superannuation trustee and administration services for industry, corporate and retail superannuation administrators and managers;
These are being developed through a combination of in-house systems, strategic alliances with partners already providing complementary products and investment in or acquisition of existing financial services assets.
On the Lookout for Opportunities
TAU is active in its search for worthwhile investments, which are within its financial and skills capacity and can contribute to TAU’s becoming a significant participant in the financial services and investment industry during the next few years.
