SYDNEY – New Forests has been granted a variation to its Australian Financial Services Licence (“AFSL,” Licence No. 301556) from the Australian Securities and Investments Commission. The variation expands the company’s capacity to provide financial services to wholesale clients.
The expanded licence enables New Forests to provide financial product advice for general insurance and basic deposit products, in addition to derivatives, interests in managed investment schemes and securities. It also increases the dealing capacity of New Forests by allowing the company to issue interests in managed investment schemes, in addition to derivatives, as well as providing the ability to apply for, acquire, vary and dispose of general insurance products and basic deposit products.
“This more comprehensive AFSL is a critical component in New Forests’ evolution as a full-service fund management company and provides another level of assurance to our clients related to compliance and governance,” David Brand, New Forests Managing Director, said.
In addition to the new licencing authorisations, Gavin LeRoux, Director of Finance, and David Shelton, Director of Acquisitions, join David Brand as Responsible Officers under the AFSL. Compliance measures include ongoing staff training and monitoring and reporting systems. The AFSL ensures that New Forests’ compliance and financial management systems are comprehensive and current, providing quality assurance to clients in Australia and globally.
About New Forests
New Forests (www.newforests.com.au) is a funds management company specialised in timberland and associated eco products, such as carbon, biodiversity and water, for institutional and private equity clients. New Forests’ staff includes experienced professionals across timberland investment, operational forestry, environmental management and finance. The company is headquartered in Sydney, Australia, with offices in Washington, D.C., San Francisco and Kota Kinabalu, Malaysia.