Daily Brief Financials: Perpetual Ltd, Morgan Stanley Solana Trust, AutoWealth, BOA Acquisition , Van Lanschot Kempen, Social Worth Technologies Ltd (Fibe), Guocoland Malaysia, Bengal & Assam, Jones Ventures INTL Acquisition1, Morgan Stanley Ethereum Trust and more

• Last night, Perpetual Ltd (PPT AU) announced it had received a revised NBIO from EQT at A$22.07/share, 2% higher than the prior bid that was rejected on the 1st July. 
• However, Perpetual notes EQT stated in its revised bid, that “the Revised Indicative Proposal itself will be regarded as being automatically withdrawn if it is disclosed“.
• So, how does that work? Is there, or is there not a revised bid at A$22/share since this terms are publicly disclosed? Perpetual does say it is considering the proposal. 

• The Morgan Stanley Solana Trust is an NYSE Arca-listed exchange-traded fund tracking SOL token prices and reflecting rewards from staking its SOL holdings.
• The Delegated Sponsor manages 19 traditional ETPs and one digital asset ETP, charging a 0.14% annualized rate of NAV.
• The Trust offers cost-effective indirect SOL exposure, but shares are highly volatile due to SOL price fluctuations and staking risks.

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• Baseline Theses Tracking to Plan with CPF Expansion Accelerating: The prior initiation report’s core thesis of tapping into CPF assets is accelerating, as AutoWealth successfully operationalised its CPF Investment Scheme entry by rolling out four tailored portfolios to the wider public in the second quarter of 2026, executing its planned 100% trailer fee rebate and 0.28% advisory fee to directly challenge Endowus.
• Phased CPFIS Public Rollout Amidst Intensifying Sector Competition: Between the prior report’s publication in early 2026 and July 2026, AutoWealth transitioned its CPF Investment Scheme offering from a restricted launch for existing clients and corporate employees to a full public rollout in the second quarter [1], introducing a ’12-Month Rule’ advisory framework to optimise members’ Ordinary Account buffers [2].
• Expanding Market Opportunity and Human Capital Gains Counterbalance Softening Retail Engagement: The composite pvtIQ SmartScore© has improved to 3.8 (from 3.7), supported by strong stability in Management (4.7) and an expanded Market Opportunity (rising from 4.3 to 4.7), which are partially offset by a lagging Unit Economics score (2.3) reflecting persistent net losses.

• BOA Acquisition Corp. II is a newly incorporated blank check company formed to effect a business combination, focusing on direct investments in real estate and infrastructure assets, particularly energy, telecommunications,.
• Management completed a $230 million SPAC business combination in 2022 and intends to focus on real estate and infrastructure assets, targeting over $500 million enterprise value.
• As of March 31, 2026, the company reported total assets of $1,043,581, a working capital deficit, and substantial doubt about its ability to continue as a going concern.

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• The SE600 index is a widely followed benchmark index in Europe. This index is rebalanced on a quarterly basis.
• The potential ADDs and DELs of SE600 September 2026 rebal are starting to take shape, with the ranking cutoff (31st August 2026 close) now about six weeks away.
• We now expect three intra-review index changes before the regular rebal and seven regular changes during the September 2026 rebal.

• Social Worth Technologies Ltd (Fibe) (1872562D IN) plans to raise around US$171m in its upcoming India IPO. The deal will be run by Axis, Kotak, JM Fin and DAM Capital.
• It is a digitally native consumer lending platform that provides personal loans, loans against property, business loans and financing solutions through its proprietary technology platform.
• According to the 1Lattice Report, Fibe was among India’s top five digital consumer lenders by FY25 AUM, operating a technology-enabled platform offering personal loans and purpose-driven financing nationwide. 

• On the 3rd Feb 2026, property developer Guocoland Malaysia (GUOL MK) (GMB) announced GuocoLand (GUOL SP), its controlling shareholder, intended to delist the company via a selective capital reduction (SCR).
• The Circular was issued on the 30th April, and disinterested shareholders at the EGM on the 29th May approved the SCR.
• On 13 July, the High Court granted an order confirming the reduction of the issued share capital. Last day of trading is the 29th July. Payment is the 7th August.

• In this insight, we discuss about the holdco structure of  Bengal & Assam (BENG IN).
• Anatomy of a HoldCo Multibagger : Further, we discuss about what led multi-bagger returns in this company.
• Finally, we highlight the long term holdco discount chart and conclude with our view.

• Jones Ventures INTL Acquisition1 Corp is a SPAC formed to effect a merger, share exchange, or similar business combination with one or more businesses.
• Detailed business information is not yet available in this filing.
• Financial data, pricing, and offer structure are pending full prospectus disclosure.

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• The Morgan Stanley Ethereum Trust is an exchange-traded fund tracking ether’s price and earning staking rewards, offering indirect exposure without direct ownership risks.
• The Trust intends to stake between 50% and 80% of its ether holdings, leveraging the Ethereum network’s status as the largest smart contract platform.
• Shares’ value relates directly to highly volatile ether price, with staking introducing risks like loss due to slashing or liquidity issues.

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