L1 Capital lists active ETF
L1 Capital has expanded its range with the launch of a listed hedged vehicle on the ASX.
The L1 Capital International (Hedged) Active ETF listed on 22 July under the ticker of L1HI.
The firm said the fund was structured as a “dual registry”, which means investors can buy and sell units in the fund either via the ASX or by submitting forms to the unit registry.
The objective of the fund is to outperform the benchmark of the MSCI World 100% Hedged to AUD index net of fees and expenses over rolling five-year periods, hedged for foreign currency exposure.
It seeks to deliver attractive risk-adjusted currency-hedged returns over a long-term investment horizon by investing in high-quality companies that it understands well and that have favourable cash flow-based valuations. A typical portfolio would have 20–40 stocks across global equities and is managed by David Steinthal, L1 Capital’s chief investment officer.
There are no minimum investments or withdrawals.
L1 Capital is a global investment manager with offices in Melbourne, Sydney, Miami and London, having been established in 2007. It is 95 per cent owned by its senior staff, led by founders Raphael Lamm and Mark Landau.
The firm currently manages five funds: L1 Capital Long Short, L1 Capital Catalyst, L1 Capital International (Managed Fund), L1 Capital Global Opportunities, and L1 Capital UK Residential Property.
Earlier this year, Fidelity announced it had launched four active ETFs: Fidelity Global Future Leaders, Fidelity Asia, Fidelity India and Fidelity Australian High Conviction.
Fidelity’s managing director, Lawrence Hanson, said: “Making these four strategies available as ETFs allows investors easy access to some of our most popular funds in Australia, with solid long-term track records.
“Whether they are seeking exposure to offshore market opportunities like Asia, India or global small to mid-caps, or to a high-quality concentrated Australian strategy, investors can now tap into our 400+ investment professionals in one simple trade.”
AUTHOR
Laura Dew
Recommended for you
Wealth managers who lack expertise in alternatives could find themselves at risk of losing clients, according to iCapital, with a shift towards evergreen funds already at play in their asset allocations.
The development of semi-liquid private equity funds is providing an easier way for wealth managers to access the asset class, according to a panel, while firms are substantially improving their valuation processes.
Generation Development Group has appointed former Evidentia chief executive Peter Smith as an executive director.
Equity Trustees has paid three infringement notices issued by ASIC in which the corporate regulator alleged it made misleading statement about investments in a sustainable bond fund.
