Mutual Capital Consultancy

By their very nature, co-operatives and mutuals are limited in how they can raise capital. This means that they are often at a disadvantage to their investor-owned competitors.

In recent years, Mutuo has addressed this challenge in the UK and Australia by helping to amend the capital regime for co-operatives and mutuals to permit the injection of external capital, whilst safeguarding both the core purpose and mutual integrity of the business.

This has led to significant legal and regulatory reforms, with new capital now being raised on commercial markets.

Key Achievements

United Kingdom: Mutuo worked with industry to develop a new share for mutual insurers and friendly societies culminating in the Mutuals’ Deferred Shares Act 2015.

Australia: Mutuo proposed a new share for Australian co-operatives and mutuals, worked with a team of Australian businesses, lawyers and funding experts to design a Mutual Capital Instrument, negotiated with Treasury officials and ministers help to build a bipartisan support for the new legislation and assisted Parliamentarians in taking it through to Royal assent.

Australia: In 2020, Mutuo has produced a series of educational events to help individual firms to prepare to take advantage of this new capital raising opportunity. Find out more at

Mutuo Capital Consultancy

Mutuo has a unique track record in identifying and executing strategies to improve the business environment for co-operatives and mutuals and can assist national representative bodies and individual businesses to emulate this in their country.

Contact us to make an enquiry.

Further Reading

Mutual capital in the UK: Raising New Capital in Mutuals – Taking action in the UK
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Mutual and co-operative capital in Australia
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Australian Senate Report into Co-operative, mutual and member-owned firms
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Independent Facilitator’s Report: Read the Hammond Review
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Documentation on the Treasury Laws Amendment (Mutual Reforms) Act 2019
Find out more about the Act