GCQ Funds launches first active ETF
GCQ Funds Management has become the latest Australian fund manager to enter the ETF space.
The firm’s GCQ Global Equities Complex ETF listed on the ASX on 3 March as an active ETF.
In its product disclosure statement provided to the ASX, the ETF is described as: “The fund invests in a concentrated portfolio of listed global equity securities designed to deliver compound risk-adjusted returns while preserving capital over the long term. The fund also has the capacity to short sell securities that GCQ believes to be vulnerable to material price declines. The fund invests in listed securities.
“The fund is a high conviction global equity strategy that aims to generate compound returns on capital over a period greater than five years, in what GCQ believes to be some of the highest quality businesses in the world. GCQ expects that high-quality businesses purchased at an attractive price will provide long-term returns.”
Fund manager GCQ – which stands for global, concentrated and quality – was set up by Doug Tynan, David Symons and Justin Hardwick in November 2021. It runs a global equities Flagship Fund which was set up in July 2022 and invests in quality companies.
All three individuals previously worked together at high conviction global equities manager VGI Partners prior to founding GCQ.
Active ETFs have grown in popularity and at least four fund managers launched new active ETFs in February. These were Schroders, Janus Henderson, PIMCO and Macquarie Asset Management.
PIMCO launched four active ETFs: the PIMCO Global Bond Active ETF (PGBF), PIMCO Diversified Fixed Interest Active ETF (PDFI), PIMCO Global Credit Active ETF (PCRD), and PIMCO Australian Bond Active ETF (PAUS).
Schroders launched the Schroder Global Equity Alpha Fund – Active ETF and Schroder Australian High Yielding Credit Fund – Active ETF.
Macquarie AM launched the Macquarie Global Yield Maximiser Active ETF and the Macquarie Subordinated Debt Active ETF, building on the existing range of Australian ETFs available through its global active ETF platform that was launched in 2023.
Finally, Janus Henderson expanded its ETF range with the launch of the Australian Fixed Interest Active ETF which is built off an existing managed fund offered by the global asset manager. The Janus Henderson Australian Fixed Interest strategy was first introduced in 1994 and now has over $5.2 billion in funds under management.
AUTHOR
Laura Dew
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