Morning Briefing: Pepper joins Esanda Dealer Finance auction

Non-bank lender Pepper Group has joined the bid for Esanda... Australian investment managers to target 'world's biggest savers'...

Pepper joins Esanda Dealer Finance auction 
Non-bank lender Pepper Group has joined the bid for Esanda against Macquarie Group and China's HNA Group, according to an article in the Australian Financial Review.

The bidders are preparing to lodge final offers this week, and it is expected prices will be around $1.5 billion.

The paper reported Citi would bring great value to Pepper and the non-bank is well positioned in the bid since it has been listed, has net cash of $145 million and most likely will bid as part of a consortium. 

Australian investment managers to target 'world's biggest savers'
Australian banks can now target the $US14 trillion ($19.83 trillion) in savings held by Japanese households after a deal was signed on Friday, the Sydney Morning Herald reports. 

The deal means Japan will join the Asia Region Funds Passport which frees up trade relations for investment firms between the two countries.

Half of the savings of Japanese households are currently held in cash or deposits and have had poor returns in the face of economic stagnation.