ASX up; Banks bounce, Afterpay leads tech rally
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The ASX is firm as Afterpay leads a third day of tech gains. But Bank of Queensland drops and Morgan Stanley dims on Westpac's dividend. Corporate Travel will buy Travel & Transport and raise $375m. Jonathan Shapiro on finding safer fixed income investments.
21 mins ago – 11.08am

Jonathan Shapiro

In April 2017, I got an email from a public relations firm offering a catch up with the promoter of a new investment firm, Jonathan Shapiro writes.

It was "part of the crop of alternative investment options targeting the lazy money sitting in bank term deposits" and would invest the funds across a "range of corporate finance transactions involving debt, equity and asset purchases both locally and internationally".

So this ground-breaking product – called IPO Wealth – was positioned as a term deposit alternative that invested in private equity, or companies and assets…
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