Macquarie Margin Lending acquires Challenger’s Margin Lending business

01 October 2004

Macquarie Margin Lending today announced the acquisition of Challenger Financial Services’ $150 million margin loan book, reinforcing its position as a leading provider of margin lending products in Australia.

Macquarie Margin Lending today announced the acquisition of Challenger Financial Services’ $150 million margin loan book, reinforcing its position as a leading provider of margin lending products in Australia.

The head of Macquarie Margin Lending, Mickey Perret, said while details of the purchase remain confidential, Challenger’s decision to select Macquarie recognises Macquarie’s position as a leading margin lending provider.

“Macquarie has established itself as a product innovator and leader in the geared investment market,” Mr Perret said.

 “We are well positioned to acquire the Challenger margin lending business and we believe that Challenger’s margin lending clients will be better serviced by a specialist provider such as Macquarie.”

“We have been successful in expanding our distribution via a strategic focus on best of breed products and services.“

“During the past financial year our business grew by more than 40 per cent which compares to an industry growth rate of 23 per cent (source RBA). The Challenger acquisition fits well with our strategy to broaden our distribution and to be a premier provider of investment lending solutions.”

Macquarie provides a full range of investment lending products including, capital protected loans such as Macquarie Fusion Funds and GEI plus, 100 per cent investment loans on approved guaranteed investments, instalment gearing and “Trading Power” derivatives trading features.

“Our extensive product range enables our clients to select investments in more than 1,800 securities and to follow a broad range of strategies to suit their investment objectives and circumstances,” Mr Perret said.

Macquarie Margin Lending is a leading provider of protected lending and margin lending products in Australia. Macquarie has a national team of specialists in distribution, products, marketing, and client services dedicated to providing premium products and services to advisors, distributors, and customers.

For further information, please contact:

Irene O'Brien
Head of PR & Communication
Macquarie Financial Services Group
Macquarie Funds Management Group
Tel: (612) 8232 3241
Mobile: (61) 417 260 309

Mickey Perrett
Division Director
Macquarie Margin Lending
Tel: (612) 8232 6965