Briefs: Selective invoice financing, corporate bond ETFs come to market, finance sector wages rising 15 May 2015 4:26PM Banking Day staff Briefs, Scottish Pacific said it was now offering selective invoice finance - meaning businesses can literally select which invoices to sell in order to raise short-term funding. ScotPac estimated the size of Australia's selective invoice market at A$150 million per annum. Funds management start-up Australian Corporate Bond Company has launched a series of exchange-traded bond units (XTBs), providing retail investors with access to corporate bonds. The 17 XTBs in the initial release provide exposure to individual corporate bonds issued by top 50 ASX-listed companies. The securities have been designed as a yield play that may, in some cases, involve a reduction in invested capital if the securities are held to maturity. No bank bonds were in the first round of XTBs but ACBC chief executive Richard Murphy said they would be included in future releases. Wages in the finance and insurance sector are rising more slowly recently than in the wider economy. Australian Bureau of Statistics figures show an increase of 0.3 per cent in the December 2014 quarter and an increase of 2.2 per cent over the prior year. By way of comparison, across all sectors in Australia wages increased by 0.4 per cent during the December quarter, and were up by 2.3 per cent on the prior year. The Australian Custodial Services Association has appointed David Knights as its new chair. Knights is general manager of client delivery at NAB Asset Servicing, and will succeed David Braga, who has held the role of ACSA chair since late 2013. Institutional fund manager QIC replaced NAB Asset Servicing with Northern Trust as its provider of back office functions. Northern Trust will now also provide global custody, fund accounting, taxation and associated services for its range of Australian fund products.