Charitable fund launches on ASX

Hearts and Minds Investments, a new listed investment company (LIC) with a charitable goal to help fund medical research charities, has started trading on the Australian Securities Exchange after closing its $500 million initial public offering ahead of its original closing date.

Chairman, Chris Cuffe, said the fund had a good structure and a high-calibre leadership team, and support for the fund managers was solid.

The fund’s portfolio is aimed at investors seeking exposure to a high-conviction portfolio of global equities, and would be based on the selections and recommendations of its five leading fund managers.

The fund may invest in both Australian and international equities, cash and cash-equivalent securities, and would waive investment fees in favour of a bi-annual donation to charities, which would be equal to 1.5 per cent per annum of the average monthly net tangible assets for the previous half-year.

Related Content

Global equities post robust returns

Global equities are posting surprisingly robust returns since the start of 2019 after suffering heavy losses in the last quarter of 2018, according to...Read more

Investors should avoid cyclical-growth stocks

Investors who seek to manage their risk exposure in developed-market equities should avoid  cyclical-growth stocks in favour of defensive and sec...Read more

Global economy sees some stability return

The United States and Chinese economies are showing improvement and a recession could even be avoided, according to Etsy Dwek, head of global market s...Read more



Add new comment