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Goldman Sachs Asset Management itself is said to be considering exiting its Australian equities business, as reported by ExitHub. Goldman Sachs, which oversees about A$9 billion ($6.6 billion) in Australia, is reviewing options including a sale or a management buyout. Its Australian equities team is led by Dion Hershan in Melbourne. Firstmac, owned by its founder and managing director Kim Cannon, and a premier sponsor of the Brisbane Broncos Rugby League Football Club, has A$8 billion in mortgages under management, with 35 years experience. The company wrote over 84,000 home loans in the past 15 years and made A$250 million in cash investments through offices in Sydney, Melbourne, Brisbane, the Gold Coast and Singapore. The company self-funds its operations through the offering of residential mortgage-backed securities (RMBS). Firstmac has publicly issued over A$16 billion in RMBS bonds since 2003, and is one of the top 10 RMBS issuers in Australia. FirstMac has earned a rating of ‘Strong’ and its outlook has been deemed as ‘Stable’ by Standard & Poor’s, for its ability to service loans. Firstmac’s RMBS issues are mainly secured by mortgages written by its related company, Australia’s biggest online lender. was founded in 2011, and has grown rapidly. It now reportedly accounts for three-quarters of new Firstmac loans. Mortgages issued by Firstmac and reportedly have a level of arrears of only 0.47%, less than half the industry average of 1.11%. has no branch network and processes loan applications exclusively online and through its call center, enabling it to offer lower interest rates than the major banks. has five stars for Outstanding Value from Canstar, and was named the Best of the Best Cheapest Home Loan and Cheapest Flexible Home Loan 2015 by Money magazine. It holds Financial Review Smart Investor’s Blue Ribbon Award for the Best Property Investment Loan – Variable 2015. In late May, Firstmac raised A$500 million through an RMBS issue at a margin of 150 basis points, or 1.50% above the Bank Bill Swap Rate (BBSW). Firstmac’s latest RMBS pricing was similar to recent comparable bank deals, although margins have been moving higher in the RMBS market overall. ING Direct reportedly paid a margin of 146 bps on an RMBS issue in March, and Resimac paid 139 bps in February.]]>