New LIC launched
Manny Pohl’s ECP Asset Management (ECPAM) has launched a new investment company - Barrack Street Limited - targeting small and mid-cap listed Australian equities.
The vehicle, the prospectus for which was released this week, is targeting a maximum of $50 million, with the of achieving medium to long-term capital growth and income through fully franked dividends.
Pohl said a particular target investor of the Barrack Street Investments LIC capital raising would be small super funds, that is, those with fewer than five members.
“It’s widely acknowledged that SMSFs bias are heavily weighted to ASX top 50 companies and cash,” he said. “Barrack Street will provide investors with a convenient and familiar pathway to high quality stocks outside the ASX top 50, an area where ECPAM and its team has an enviable and long-term track record.”
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