Chi-X launches offering with Kapstream

Chi-X/Vic-Jokovic/Steve-Goldman/Kapstream/

15 October 2019
| By Chris Dastoor |
image
image image
expand image

Alternative traders, Chi-X Australia, have launched the Chi-X funds market by quoting Fidante Partners’ ActiveX Kapstream Absolute Return Income Fund (Managed Fund).

The arrival of Chi-X funds marked an expansion of the exchange capabilities, enabling issuers to have funds quoted and traded on Chi-X and providing investors with access to a range of new investments.

Vic Jokovic, Chi-X Australia chief executive, said the arrival of Chi-X funds demonstrated the firm’s commitment to innovation and lowering costs for Australian investors.

“The launch of Chi-X Funds is an important step forward for us and is indicative of Chi-X’s growing position within the Australian market,” Jokovic said.

“We are look forward to continuing to broaden our offering with additional issuers over the coming months.”

Steve Goldman, Kapstream managing director and portfolio manager, said the $5.8 billion fund targets two or 2-3% returns above cash.

“It invests predominantly in global corporate bonds with an average ‘A’ rating,” Goldman said.

“Since inception the underlying fund has provided a net return of 4.75% per annum and has been widely used by those seeking a better performing alternative to term deposits, a trend that has accelerated again more recently with falling bank deposit rates.”

Read more about:

AUTHOR

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 4 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

3 weeks 4 days ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3