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GENERAL MARKET UPDATE
Cashwerkz Limited (ABN: 42 010 653 862) (Company) (Cashwerkz) is pleased to provide the following further update on trading. Business Update
Alongside consistent revenue growth in our Bond business being realised during November, we have received a first tranche of government grants and a second tranche is expected shortly which we expect to total over $800,000 for our technology innovation. In December we successfully issued a Cashwerkz Note of $4.5m with attaching options. We have applied to the ASX for approval to apply for quotation of nine (9) million options with an exercise price of 50c and are awaiting such approval. Options on the same terms are being issued to reward staff, with 42 staff taking up a total of 84,000 options. The original intent was to raise at least $2 million to cover requirements for funding additional inventory and likely increase in required NTA for the Trustees Australia business. We have, however, received strong demand in a very short time and have closed the offer with $4.5 million in demand. The bond offer was taken up by a small number of wholesale investors and Cashwerkz staff, to fund the growth in capital requirements of our FundIncome and BondIncome businesses. Restructuring of Business
Cashwerkz's commitment to continual improvement and the resulting restructure of the existing business, undertaken during October and November of 2020, has improved the running costs and operational synergies available across all business lines. Enterprise operational improvements and process developments have enabled newfound efficiencies through our technology and people. The restructuring resulted in redundancies of approximately 20% of staff, the resulting alignment and efficiencies will flow through to our bottom-line before the end of FY21. Talent Acquisition
Cashwerkz is delighted to welcome a significant number of senior talent hires, all of whom bring a wealth of experience and individual expertise, aligning with Cashwerkz's culture and strategy. The following appointments will further promote our growth-orientated mindset that is at the forefront of each business decision made at Cashwerkz:
Our new Financial Controller, Clare Power, joins us from BT where she filled a similar position, after extensive service with Deutsche Bank and PWC. Alexandra Coleman is to be appointed Chair of Trustees Australia Limited. She has strong AFSL expertise and was instrumental in getting Fortlake to the market. Head of Deposits, Bianca Burt, ex FIIG Securities of 15 years and experienced in managing billions in cash and term deposits. Kyle Lambert, ex BGC Australia and our Head of Bond Facilitation, is starting early in 2021. He is one of the most exciting talents in the Bond Industry and a proven performer. Vanessa Chidrawi as our Company Secretary, drawing on her vast governance experience and her most recent role as company secretary for Wisr Limited. Matthew Loughnan, former NSX CEO and accomplished senior executive, to our Chief Commercial Officer role. Cashwerkz Limited
ABN 42 010 653 862
We are proud to welcome each of these highly qualified and accomplished individuals to the team as a part of our restructuring and launch of our fixed income focused businesses. These senior appointments, with strong female representation, embody our commitment to diversity within Cashwerkz. All these appointees are proven performers in their fields across Sales, Finance, Financial Services and Governance. The Cashwerkz solution for income investing. The Cashwerkz business is a scalable "hub and spoke" business model. The ability for business areas to interact with one another allows for ideal collaboration between Term Deposits, BondIncome and FundIncome with our technology, risk management and regulatory capability being at the core of all operations and client engagements. Term Deposits
The low cash rate environment has meant that we are assessing elements of our traditional Deposit business. The deposits business will continue to be a fundamental part of the overall product offering of Cashwerkz, with the overarching goal to target professional cash investors looking for a place to allocate their funds. By targeting this client base, there is the potential for much larger placements and servicing the very significant client overlap between our three core business lines. BondIncome
The BondIncome team have continued to produce very promising results through recent months, delivering significant revenue and clientele growth for the business. This includes new client accounts opened, growth in funds in custody and new issues of debt capital to meet client demand. The growth in client numbers and funds under advice is pleasing and on-plan. The new year will start with several high-grade new issues already in the pipeline. We will also work closely with investors to find the right fund solution within the Fortlake suite of funds, the demand is already building. 2
FundIncome
FundIncome was spearheaded by the introduction of Fortlake Asset Management, following on from the announcement released to the ASX on 9 November 2020. Former UBS senior executive, Dr. Christian Baylis, heads an astute team including Dr. Kylie Anne Richards, Dr. Nalin Prasad, Dr. Lan Do and Hang Nguyen that will operate the fund with the support from Cashwerkz, TGM, Mr Alex Waislitz and other investors. With the establishment of an experienced board of directors, the Fortlake funds are well positioned for consistent growth into the future. As announced on 17 December 2020, the Fortlake business has finished the year with more than $300 million in funds under management. This is a sensational result and de-risks the investment from a FundIncome perspective, well ahead of our original estimates. We have built a great template within the FundIncome and Trustees Australia businesses and look forward to bringing more new funds to market in 2021. With that in mind we are recruiting a CEO for the FundIncome business presently, as well as more Distribution staff. The FundIncome business plan is conservative to keep costs under control as we expand but we will ensure we always have sufficient resources, ahead of the needs of the business. This partnership is a further example of the ongoing restructuring and continuous improvement occurring at Cashwerkz, as we widen our product offering to become an increasingly dynamic and innovative company delivering the right solution for income investors. We are in discussion with multiple aspirant fund managers seeking assistance to launch their funds aligned with Cashwerkz's strategy and culture. Our ongoing diligence into the new year remains very selective and focused on reducing risk to our stakeholders and ensuring our services and products offer high quality to our investors. This announcement was approved for release by the Board of Directors. ENDS
Jon Lechte - CEO
shareholders@cashwerkz.com
About Cashwerkz Limited
The Cashwerkz Limited Group of companies delivers an innovative online income investment marketplace including, Bond sales, At Call and Term Deposits and managed fixed income investments. Cashwerkz now includes Cashwerkz Technology, Bond Income and Fund Income as its revenue and asset creating divisions. Listed on the Australian Securities Exchange (ASX: CWZ) the group is headquartered in Australia. The Group consists of the following companies:
Cashwerkz Limited ABN 42 010 653 862 AFSL 260033;
Cashwerkz FI Limited ABN 86 111 273 048 AFSL 283119;
Cashwerkz Technologies Pty Ltd ABN 70 164 806 357 AFSL 459645;
Trustees Australia Limited ABN 63 010 579 058 AFSL 260038; and,
FundIncome Pty Ltd ACN 643 600 088. 3
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Cashwerkz : General Market Update

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The new kid on Australia's fixed income block is believed to be preparing an ambitious bid for about $25 billion in assets managed by one of the big incumbents. It is understood Fortlake Asset Management, a new boutique firm set up by former UBS fund manager Christian Bayliss and backed by high profile Melbourne-based investor Alex Waislitz, is working on an offer for UBS Asset Management's Australian fixed income book. UBS Asset Management's Australian fixed income team is responsible for managing about $25 billion in assets. Nic Walker
The bid is believed to be worth about $200 million and proposes that Fortlake's team would replace UBS Asset Management's internal team in managing the $25 billion or so in client funds it invests in fixed income out of Australia. It would be a huge play - and huge outlay - for an investment firm that only launched this month. Fortlake is understood to be working in conjunction with Cashwerkz, an ASX-listed microcap that started a funds incubation arm to back new investment managers. Cashwerkz already has a stake in Fortlake and a board seat. Advertisement
Sources said Cashwerkz would raise the equity required to help fund any deal and arrange fresh debt if a bid was successful. There have already been discussions with potential investors, according to a source shown the proposed deal. Fortlake and Cashwerkz declined to comment on Sunday. UBS Asset Management is run locally by Bryce Doherty. It has agreements with Yarra Capital and CBRE Clarion to manage equities and a property fund, but retains a fixed income investment team and distribution responsibilities. Daniel Munoz

Fortlake, Cashwerkz team up for run at UBS Australia fixed income arm

Bloombergs trade order management solution helps Bond Income clients trade bonds more efficiently
Sydney – WEBWIRE – Thursday, October 8, 2020
Bloomberg announced  that Bond Income, a registered business name of Cashwerkz Limited, (ASX:CWZ), has adopted Bloombergs Trade Order Management System (TOMS) for its new bond and fixed income solutions for wholesale investors, financial advisers and investment policymakers of councils and not-for-profits. Launched in August 2020, the new service, Bond Income, is designed to provide greater access to bonds for wholesale investors and financial advisers with wholesale clients, as well as investment policy makers. Bloombergs TOMS supports Bond Income with an integrated fixed income execution and order management platform across OTC, ASX listed and hybrid instruments. Bloombergs execution and order management solutions are central to us delivering a robust service to our investors, so they can act with speed, efficiency and confidence when trading bonds on our platform. Bloomberg have been a key technology partner in helping us design this service and deliver it to market quickly, said Jon Lechte, Chief Executive Officer of Cashwerkz. He added, their advanced technology, integrated solutions and ability to synchronise real-time orders reliably means we can streamline operations and optimise our IT workflow. This allows us to focus on future innovations, platform improvements and enhancements for our clients.
We are excited that Bond Income has chosen us to help them bring their innovative new service to market. Our fixed income heritage and deep technology expertise will support their growth and help them advance wholesale fixed income investment in Australia. said Phil McCabe, Global Head of Sell-side Solutions, Bloomberg. Continuing that as investors look to diversify their portfolios and manage volatility during these uncertain market conditions, the launch of this service is timely.
Bloombergs TOMS provide sell-side firms the capabilities to efficiently manage inventory, risk, P&L, compliance, and straight-through processing across various asset classes. The suite of solutions includes electronic trading tools and market connectivity to help firms synchronize their front office risk and trading with middle-office, operations, and enterprise applications in real-time. Bloombergs TOMS has been consistently awarded the Best Sell-Side Front-Office Platform by  Waters Technology  since 2013. Bloombergs integrated suite of solutions for the sell-side help more than 16,300 users across the world manage positions, trade orders, multi-asset risk, execution as well as a salesperson efficiency, which is built on an algorithm that lets relationship managers know which clients to call and when. For information on TOMS, please  click here . About Bond Income
Bond Income, a registered business name of Cashwerkz Limited, began trading on 14th August 2020. It offers direct sales of Government and Corporate bonds to sophisticated and wholesale clients in Australia. Bond Income is a full-service business, offering research and portfolio optimisation across both deposits and fixed income securities. About Bloomberg
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The companys strength  delivering data, news and analytics through innovative technology, quickly and accurately  is at the core of the Bloomberg Terminal. Bloombergs enterprise solutions build on the companys core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit  Bloomberg.com/company  
( Press Release Image: https://photos.webwire.com/prmedia/6/264949/264949-1.jpg )

Cashwerkz Adopts Bloomberg Solutions for its Bonds Investment Platform

Cashwerkz completes placement’s first tranche
Online cash management company Cashwerkz (ASX:CWZ) has completed the first tranche of its ongoing placement. The placement, which the company first announced on May 6, 2020, is being completed in two tranches. The first tranche, which was completed yesterday, comprised 25,110,577 fully paid ordinary company shares. Through the share issue, Cashwerkz raised $3,264,375, before costs. The placement’s second tranche will issue a further 13,350,961 fully paid ordinary company shares. This will raise approximately $1,735,624 for the company, before costs. However, this second tranche is subject to shareholder approval, which the company will discuss at a general meeting around June 15. If the shareholders approve the second tranche, the placement’s tranches will have issued a total of 38,461,538 shares. This represents 24.06 per cent of the total shares on issue before the placement. To read more, please click on the link below…

Cashwerkz completes placement’s first tranche

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Cash investments marketplace Cashwerkz Limited was cap in hand in front of funds on Thursday, looking to secure $5 million for new hires and to grow its cash and term deposits investment platform. Cash investments marketplace Cashwerkz was fronting funds on Thursday. AFR
The company was raising the money via a placement of new shares. The offer was priced at 14¢ a share, which represented a 7.1 per cent discount to the $22 million company's last close and a 10.4 per cent discount to its five-day VWAP, according to terms sent to funds. Blue Ocean Equities was lead manager on the raise and was calling for bids by 3pm on Tuesday next week. Funds were told the fresh funds would be used to grow Cashwerkz's platform, as well as for talent acquisition, marketing and product expansion. Cashwerkz went into a trading halt on Thursday morning. Get a first look at tomorrow's headlines
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Cashwerkz taps market for growth capital

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