Contango to launch WCM ETF
Contango Asset Management (CGA) has announced plans to launch an exchange-traded managed fund (ETMF), via its interest in Switzer Asset Management (SAML).
The new fund, the WCM Quality Global Growth Fund (WCMQ), will be managed by California-based WCM Investment Management (WCM) and would be launched in late July.
WCMQ would be based on WCM’s investment process, which has allowed WCM’s Quality Global Growth portfolio to outperform the MSCI World Index over the past decade, the company said.
Additionally, WCM has entered an exclusivity arrangement with CGA and SAML to distribute its Quality Global Growth investment strategy via listed investment company ETML and a retail managed fund.
The announcement would be also expected to foster a relationship between CGA and WCM following the initial public offering (IPO) of listed investment company, Contango Global Growth (CQG).
According to the firm’s chief executive, Marty Switzer, the focus would be now on building “the leading WCM global equities brand in Australia”.
“We want to enable retail investors to access WCM’s investment strategies and view ASX-quoted products as the best way to do this,” she said.
“Our partnership with WCM began with the launch of Contango Global Growth. The evolution of the relationship is consistent with our new direction of aligning with high-quality fund managers to help them access the $2 trillion superannuation industry.”
CGA recently also recruited an experienced distribution team who would target the independent financial adviser market.
Also, Contango’s board announced it would seek shareholder approval to change its name to WCM Global Growth.
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