Antipodes Global Investment Company (APL) has closed its initial public offering (IPO) above $300 million, representing the third largest listed investment company (LIC) IPO in Australia, according to Antipodes.
APL offered investors access to a long-short global security portfolio that had a currency overlay and was based on the Antipodes Global fund strategy.
The firm said since inception, that fund returned 14 per cent net to investors and outperformed the MSCI All Country World Net Index by 11 per cent, and aimed to deliver positive investment performance regardless of broader market activity.
Antipodes Partners’ chief investment officer and lead portfolio manager, Jacob Mitchell, said “The LIC struck a chord with investors seeking global equity exposure with an innate focus on capital preservation”.
The LIC was focused on performance and income generation through the market cycle, while it offered investors diversification in their portfolios, he said.
