The PRWIRE Press Releases https:// 2019-09-23T06:01:54Z Providence Independent Investment Advisory and Mandala Asset Solutions Arrange Off-Market Purchase of Clarion Mackay Marina 2019-09-23T06:01:54Z providence-independent-investment-advisory-and-mandala-asset-solutions-arrange-off-market-purchase-of-clarion-mackay-marina Sydney, Tuesday 24th September 2019 A syndicate of high net worth investors has just completed its purchase of the property formerly known as the Clarion Mackay Marina for $8.75m. The high quality 79 room motel and function centre enjoys a centre stage in the marina district of Mackay with sweeping sea views. Attractive to both business and leisure guests, the property is one of the premier properties in Mackay. The property was purchased off‐market via a Special Purpose Vehicle within the Trinity Accommodation Regional Hospitality Fund. The transaction was arranged by Providence Independent Investment Advisors and Mandala Asset Solutions in conjunction with Infin8. The brokers for the deal were ResortBrokers. Mandala and Providence have been working together for a couple of years identifying potential investment opportunities in the regional motel sector. “We are attracted to the sector given the non‐correlated nature of the assets along with the ability to enhance income through professional management" said Grant Patterson CEO Providence. Mandala are very experienced in this sector and we were attracted to outlook for the region and their ability to add value to the asset. The sale of the property to Mandala is expected to utilize the manager’s track record in enhancing the property through upgrades, rebranding and product repositioning. “We are delighted to be able to work with Providence on such a prestigious regional asset.” said John Zeckendorf, Principal of Mandala. Grant Patterson of Providence was pleased with the majority stake, noting the potential value add this investment may return for Providence’s high net worth clients, in line with the strong track record of Mandala. -ENDS- Further inquiries can be directed to: Grant Patterson ‐ CEO, Providence Independent Investment Advisors, grant@providencewealth.com.au, Phone: 0411 883 847 John Zeckendorf ‐ Principal, Mandala Asset Solutions jz@mandala.net.au, Phone: 0407 915 188 Providence Independent Investment Advisory Hosts His Royal Highness, The Prince Edward, Earl of Wessex KG GCVO 2018-04-06T03:18:08Z providence-independent-investment-advisory-hosts-his-royal-highness-the-prince-edward-earl-of-wessex-kg-gcvo Melbourne, Friday 6th April, 2018 His Royal Highness, The Prince Edward, Earl of Wessex KG GCVO was hosted by Providence Independent Investment Advisory, at an event today for supporters and alumni of the Duke of Edinburgh’s Award. The lunch at the Australian Club in Melbourne was attended by notable guests including representatives from Cricket Victoria, Invictus Games and Australian Rugby Union. The purpose of the lunch was to thank Award Ambassadors and supporters for their financial contribution to the award and to recognise the numerous volunteers that support it, as well as a partnership between The Award and The REACH Foundation. Grant Patterson, Managing Director of Providence, who hosted the lunch is an Ambassador of the Duke of Edinburgh Award and an advocate for youth issues. Mr Patterson said “It is wonderful to be associated with philanthropic groups who support our youth in building resilience, confidence, self-belief and a sense of purpose in order to become the best they can be and the future leaders within our community.” The event highlighted the Duke4Sport partnerships which aligns The Award with key sporting peak bodies, and an advocacy partnership with youth charity The Reach Foundation. His Royal Highness, said “The Duke of Edinburgh’s International Award – Australia has experienced much success with new innovative projects launched to broaden our reach to more young people and especially to connect with hundreds of vulnerable youth. Like most charities, we couldn’t possibly achieve this without the enthusiasm, time and connections of our growing list of financial supporters; it is their generosity that has enabled The Award to extend its reach to thousands of young people. “ -ENDS- Note to the Editor: Grant Patterson, Duke of Edinburgh Award Ambassador, Managing Director of Providence, is available for comment.  About Duke of Edinburgh’s Award: The Duke of Edinburgh’s International Award is a leading youth development charity, enabling and empowering young people to realise their full potential and build a brighter future. As Australia’s largest complementary youth education program, the Award is highly inclusive and has a rich and successful history since commencing in 1959. About Providence: Providence was established in 2000 as an independent advisory firm providing independent, expert advice and investment strategies to high net worth individuals, families and not-for-profit organisations. Providence also supports a planned and professional approach to philanthropy for clients through the Providence Philanthropic Foundation. For more information, please visit www.providencewealth.com.au. Whitepaper Highlights Risks of Passive Investments 2017-08-03T23:42:23Z whitepaper-highlights-risks-of-passive-investments Melbourne, Friday 4th August, 2017: There has been a significant move towards Exchange Traded Funds (ETFs) as investors have switched en-mass to passive style investments, often at the expense of active investment. This may supercharge potential future drawdowns.   ETFs are index funds listed on the exchange that replicate a nominated benchmark or index. Proponents of ETFs espouse the attractiveness of lower fees for exposure to equity markets/sectors/thematic investing as an alternative to active management via the traditional path of a managed fund. The risks of passive investments are discussed in the recently released Whitepaper “The Rise of Passive Investing: Fee Saving or Increasing Risk?” Published by Providence Independent Investment Advisory, the Whitepaper asserts the view that while ETFs can play a role in portfolios as a low-cost beta allocation, investors should be mindful of how ETFs will perform in a falling market. The Whitepaper author, James Smith (Head of Melbourne and Senior Investment Adviser at Providence) stated “The perennial argument of whether active managers can outperform the index usually reappears towards the top of investment cycles. This is a result of active managers underperforming their relevant benchmarks when markets are driven by momentum and also the fear of missing out on a rising market. We are once again at this juncture and hence this Whitepaper is a timely discussion of the attraction and risks of ETFs”.  “With careful due diligence and a focus on what part of the cycle we are entering, we believe investment advisors can identify those active fund managers that will outperform an index, particularly during a sharp market correction.” The Whitepaper is available at http://www.providencewealth.com.au/providence-whitepaper-rise-passive-investing-fee-saving-increasing-risk/. Currently in its 16th year of operation, and with a 185% growth of Funds Under Management (FUM) over the past 5 years, Providence has $1bn of funds under management on behalf of Australian individuals, families and not-for-profit organisations from its Sydney and Melbourne offices. -ENDS- Note to the editor: James Smith, Head of Melbourne, Providence, is available for comment. About Providence: Providence was established in 2000 as an independent advisory firm providing independent, expert advice and investment strategies to high net worth individuals, families and not-for-profit organisations. For more information, please visit www.providencewealth.com.au Providence Gains Global Insight from London 2017-02-16T02:19:19Z providence-gains-global-insight-from-london Sydney, 16 February, 2017 Australian independent investment advisory firm Providence has appointed Will Porter to the newly created role of Global Research Manager based in London, in order to broaden research insight.  Having access to global fund managers in London, Will Porter will be delivering insights on global themes in asset allocation and investment markets to Providence’s Australian-based investment committee and executive team, for the benefit of Providence’s clients. Will Porter has over ten years’ experience in the investment market, most recently as Providence’s Sydney-based Australian Equities Manager. He has had responsibility for equity research and asset classes, maintaining model equity portfolios and monitoring investment performance. Grant Patterson, Managing Director of Providence explained the importance of this new London-based role. “These are uniquely uncertain economic times. We recognise that changes occurring at a global level may significantly affect the investment decisions we make locally. Having our dedicated resource in London, a world financial capital, will continue to enhance our global perspective and maintain our alignment with global investment themes” he said. “At Providence we pride ourselves on providing expert and truly independent investment management and advice to our clients. We believe that Will’s presence in London will enhance our ability to safely navigate these uncertain times on behalf of our clients, in a global context.” Currently in its 16th year of operation, and with a 185% growth of Funds Under Management (FUM) over the past 5 years, Providence has $1bn of funds under management on behalf of Australian individuals, families and not-for-profit organisations from its Sydney and Melbourne offices. About Providence: Providence was established in 2000 as an independent advisory firm providing independent, expert advice and investment strategies to high net worth individuals, families and not-for-profit organisations. For more information, please visit www.providencewealth.com.au