An Australian non-bank has been upgraded to the highest available ranking of ‘Superior’ following a recent assessment.
La Trobe Financial, a $9.6bn diversified wealth manager, was given the promotion by research house Australia Ratings following a dive into its operational capability.
Chief investment officer, Chris Andrews said, “We have always targeted the highest levels of professionalism in all we do and this most recent ranking is independent verification of our processes.
“Ultimately it is investors who benefit from independent reviews of operational capability. That’s why this is so important to us.
“As responsible stewards of other people’s money for almost seven decades, we continue to develop our people, processes and platform to benefit investors.”
According to Australia Ratings analyst, Natasha Hall, “This upgrade reflects the ongoing investment by La Trobe Financial in its human resources and risk and compliance practices, in addition to the strengthened financial backing from the Blackstone Group.”
The group’s 12-month term account, one option in its $4.5bn credit fund, was also recently rated ‘Recommended’ by Lonsec and Zenith; additionally, it and the select investment account - another credit fund option - received a 4.25 star rating from SQM, reflecting a ‘superior’ rating.
Earlier this year, International Finance Magazine granted La Trobe Financial two international finance awards for ‘Best Investment Management Company – Australia’ and ‘Best Non-Bank – Australia’.
The credit fund was also recently judged Australia’s 2020 Best Credit Fund – Mortgages by finance journal Money Magazine for the 11th consecutive year.
