Charitable fund launches on ASX

funds management hearts and minds charity medical charity medicine fund launch ASX LIC IPO australian securities exchange listed investment company initial public offering Chris Cuffe australian equities global equities investment fees donation

15 November 2018
| By Anastasia Santoreneos |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

 
sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

 

MARKET INSIGHTS

JOHN GILLIES

tHOSE 989 WHO ARE CEASED WILL GO ON TO LIVE A LONG AND HEALTHY LIFE JG...

2 days ago
Chris Cornish

What a sticth-up. Looks like Labor Senator Jess Walsh follows Stephen Jones who follows what the industry super funds ...

1 day 21 hours ago
Peter Swan

This report is a blatant display of far-left factional partisanship, treating superannuation funds as state property and...

1 day 22 hours ago

ASIC has cancelled the AFS licence of a Sydney wealth firm, the fifth Sydney firm to see a cancellation since the start of the year....

2 weeks 3 days ago

More than 20 winners from the funds management industry have been crowned at this year’s awards....

1 week 3 days ago

ASIC has obtained interim orders from the Federal Court to freeze the assets of a registered managed fund and prevent its former director from leaving Australia. ...

3 days 21 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND