Barrack Street Investments has listed on the ASX after raising $16 million through its initial public offering.
The fund is managed by boutique Australian equities manager ECP Asset Management and invests in a portfolio of quality small and mid-cap ASX-listed companies.
ECP Asset Management head Dr Manny Pohl thanked the brokers involved in the raising and said he was pleased SMSF trustees and other investors were recognising the need to diversify beyond the Top 50 ASX stocks.
“We have a number of people to thank for this successful capital raising, including Morgans Corporate who was the lead manager to the offer,” said Dr Pohl.
Dr Pohl said the listed investment company is targeted at small super funds with fewer than five members and aims to achieve medium- to long-term capital growth and income through fully franked dividends.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 14 Dec 2018ASIC clarifies RG 146 requirements for advisersBy Adrian Flores
- 14 Dec 2018Sargon Capital acquires listed robo adviserBy James Mitchell
- 14 Dec 2018Industry body flags CPD burden under FASEA proposalBy Adrian Flores
- 14 Dec 2018Adviser exodus creating ‘enormous opportunity’ for accountantsBy Jotham Lian
- 14 Dec 2018Advisers embracing ESG investing, says surveyBy Adrian Flores
- 13 Dec 2018AFA picks apart CPD policy from FASEABy Adrian Flores
- view all