All That Investors Need To Know About Trustees Australia Limited (ASX: TAU)

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Trustees Australia Limited (ASX: TAU) recently announced that its term deposit platform, Cashwerkz, has reached $1.5 billion cash investment milestone for institutional and retail investors. It is a leading online platform in Australia that is dedicated to cash investing and is 100% owned by Trustees Australia.

Earlier in October 2018, the platform had surpassed its forecast of $900 million reporting more than $1 billion cash investment. The company informed that its Cashwerkz platform has acquired wealth management partners and welcomed new APRA-regulated ADI to existing suite.  

Cashwerkz delivers additional security surrounding investors’ funds as the platform does not handle, receive, or direct investors’ money, but it simply facilitates the transfer of cash parcels by providing the instructions to the relevant parties. Cashwerkz’s operations, sales, and development are intended for expansion and launch of a new ‘At-Call’ account product in response to continued growth has been indicated.

The platform displays available interest rates in real time, researches the market to find the most competitive rates, and can transact and manage cash allocations for retail investors, wholesale investors, self-managed superannuation funds, significant Australian superannuation funds, midmarket institutions and custodians and their clients. The company informed that Cashwerkz does not provide advice and does not charge fees to investors instead it receives a fee from issuing ADI.

Recently, the company has announced that its Director Mr. Michael Hackett who holds a direct and indirect interest in the Company, had acquired 20,000 fully paid ordinary shares via an on-market Purchase for the total consideration of $2,200.

As per the announcement dated 21 December 2018, substantial holder Adcock Private Equity Pty Limited transferred its 3,200,000 shares in Trustees Australia for a total consideration of $688,000. This change is relevant with respect to the interest of the substantial holder as affected via off-market transfer.

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FY18 Financial Performance: In FY18, the Company’s net loss attributable to members of the parent equity was $1,590,826, (against the prior year’s loss of $ 1,857,181). The diluted loss per share amounted to 2.9 cents per share in FY18. The result was achieved on revenue and other income of $3,839,387, (against the prior year figure which was $1,336,040). The company’s total expenses stood at $5,956,307, (while the prior year figure was $1,590,023).

On Balance Sheet front, Net Assets attributed to $6,677,575 in FY18, (over the prior year that witnessed a figure of $6,997,245 as the net assets). The total assets were $11,393,965 in FY18, (over the previous year wherein total assets were of the order of $9,843,294).

As at 30 June 2018, the Trustees Australia Limited had maintained the cash and cash equivalent of $401,734 (against $545,310 of prior year).

Stock performance: The shares of Trustees Australia Limited surged up by 2.941% or $0.005 to last trade at $0.175 on 1 February 2019. The company has approx. 159.88 million outstanding shares with a market capitalization of circa $27.18 million. Over the past 12 months, the stock has witnessed a negative price movement of 5.56%.


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