InvestSMART launches new active ETF
InvestSMART has announced the launch of its new active exchange traded fund (ETF), the InvestSMART Australian Equity Income Fund (INIF) which will aim to offer stable income by investing in a portfolio that is light on the banks and undervalued cash producing firms.
The company said it planned to launch an initial offer of units in the fund at $2.50 each from May 14 before listing the fund on the Australian Securities Exchange (ASX).
The fund would leverage the group’s existing Australian Equity Income portfolio, which returned 11.05 per cent per annum after fees since inception.
Commenting on the launch, InvestSMART’s head of funds management, Alastair Davidson said the fund would aim to deliver investors income without sacrificing capital gains.
“While the priority of the fund is delivering income, the portfolio is constructed in such a way as to allow investor to also benefit from capital gains,” he said.
INIF would hold up to 30 stocks, including some bank stocks however the fund’s exposure would be less than nine per cent compared to more than 22 per cent in the ASX200, the firm said.
The new fund would be managed by InvestSMART’s head of research, James Carlisle, and Guarav Sodh, deputy head of research.
Recommended for you
Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.
Financial advice platform Otivo has made an experienced appointment from the US as its head of product strategy.
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
