Powered by MOMENTUM MEDIA
subscribe to our newsletter

Firstmac to expand Asian footprint

Independent non-bank lender Firstmac has signalled plans to tap into the Japanese market as the lender beefs up its funding capabilities in Asia.

Speaking to Mortgage Business, Firstmac chief financial officer James Austin said there is increasing demand coming out of Japan for the lender’s RMBS products.

“We have had a number of reverse inquiries from Japanese institutions,” Mr Austin said. “Japanese demand for our RMBS seems to be stirring more recently.

“The Japanese tend to be fairly cautious and slow to move, but I think that there is definitely going to be some pretty strong demand coming from there.”

Firstmac opened a Singapore office 18 months ago from where the company distributes its RMBS fund through independent financial planners and has staff on the ground to maintain relationships with key institutional investors.

Advertisement
Advertisement

PROMOTED CONTENT


“We have always had a number of Singapore accounts that have invested over the past decade and so we are maintaining those relationships to try and penetrate some more real Asian money,” Mr Austin said.

“Singapore is our initial focus, but we do intend to increase our footprint across Asia. Singapore is a natural base because it’s fairly regulatory-friendly, it’s English-speaking, which helps, and its regulatory and legislative environment is very similar to ASIC.”

Breaking into the Japanese market will come with fresh challenges, Mr Austin added.

“We do see a big opportunity with Japan; however, that is a lot more complicated with the regulatory environment and the language issues, so that is something we will have to think about a bit more,” he said.

 

Firstmac to expand Asian footprint
mortgagebusiness

Latest News

The chairman of the financial services regulator has resigned from his position, effective immediately. ...

Refinancing settlements for the first nine months of the calendar year 2020 are up 27 per cent on last year’s volumes, having peaked in Ju...

The Tasmanian-based lender has seen a 43 per cent rise in settlements in the first quarter of the financial year, driven by strong demand fr...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Victoria’s surprising appetite for new homes

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.