Australian investors are facing fresh concerns as Centuria, a prominent investment manager focusing on property and funds, has temporarily frozen redemptions for one of its credit funds. A spokesman confirmed that applications had been “temporarily paused,” attributing the decision to a spike in requests from investors worried about the fund’s ties with ailing property developer Bathla. This move highlights heightened caution across parts of the property market, reflecting broader anxieties about real estate stability and liquidity.
In other significant corporate developments, financial services giant Macquarie is reportedly considering revisiting its substantial contract with audit firm KPMG. Macquarie’s chairman indicated that the review follows KPMG’s involvement in a data misuse scandal concerning Optus, where the auditor was deemed to be in “flagrant breach of duty.” Macquarie, a leading global provider of banking, financial, and advisory services, holds a $75-million-a-year external audit agreement with KPMG, adding considerable weight to the ongoing inquiry into the firm’s conduct.
Meanwhile, the broader Australian share market experienced a downturn, with the ASX falling 0.7 per cent by noon (AEST). Major miner BHP dropped 3.8 per cent, while retail chain Baby Bunting surged 15 per cent. Gaming technology firm Ainsworth gained 6 per cent on a patent deal with Aristocrat, and aluminium producer Alcoa saw its shares fall after finalising a new gas deal. Investors also noted the appointment of economist and company director Melinda Cilento to the Reserve Bank of Australia’s interest rate board, a role for which she is well-suited, having previously served as commissioner at the Productivity Commission and chief economist at the Business Council of Australia.
