Platinum and VanEck rebrand multiple ETFs
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
In announcements to the ASX, the two firms said they have made name changes to their products in light of revised naming conventions from the ASX.
For Platinum, two quoted managed funds are being renamed as Platinum Active ETFs and it also updated the management, with Ted Alexander running the Platinum International Fund Complex ETF and Cameron Robertson running the Platinum Asia Fund Complex ETF.
Alexander is a new manager who joined Platinum last month to take over portfolio management responsibilities from Andrew Clifford and Clay Smolinski on the International funds.
A spokesperson for VanEck said the changes are due to regulatory updates for the product labelling of ASX-listed vehicles. These particularly apply for those exchange traded products which use derivatives which must now have their role disclosed in the ETPs’ product disclosure statements.
The use of the word ‘complex’ as per ASX must be applied if the aggregate of derivatives exceeds 10 per cent of the net asset value and their use is fundamental to the implementation of the investment strategy.
The new names are listed below:
The VanEck name changes took effect from 20 March while the Platinum ones apply from 28 March and the ASX codes remain unchanged.
Last month, Ellerston Capital announced it would be rebranding its Ellerston Asia Growth Fund (Hedge Fund) to the Ellerston Asia Growth Fund Complex ETF. In the case of Ellerston, the product uses derivatives and potentially OTC derivatives to gain exposure to some listed equity holdings.
AUTHOR
Laura Dew
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