Liberty Financial Group Ltd Stapled (Ordinary Share,Unit)

LFG: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$9.10	Yrll	Ndwmrhsy

Liberty Financial: Initiating on a No-Moat Lender Trying to Stay Out of the Major Banks' Lane

Nathan Zaia

Oct 4, 2024

We initiate coverage of nonbank lender Liberty Financial Group. Mortgages make up 55% of its loan book, with a focus on higher-risk borrowers, for which Liberty can charge higher rates. Other lending includes motor, commercial property, and self-managed superannuation fund, or SMSF, loans.

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