POWERED BY MOMENTUM MEDIA
ECP Asset Management launches small and mid-cap LIC
Boutique Australian equities manager ECP Asset Management (ECPAM) has released a prospectus for Barrack Street, launching a new small and mid-cap listed investment company (LIC).
ECPAM head Manny Pohl said the Barrack Street Investments LIC capital raising targets small self-managed super funds (SMSFs) with less than five members.
It will provide investors access to stocks outside the Australian Securities Exchange (ASX) top 50.
The offering, which will target listed Australian equities, will aim for a maximum of $50 million, while the LIC aiming at medium to long-term capital growth and income through fully franked dividends.
Barrack Street aims to exceed a benchmark return of 8 per cent per annum.
The offer is valued at $1 a share and investors in the initial public offering will get a free 24-month option for every share they subscribe for, applicable at $1.
Morgans Corporate is the leader manager to the offer, which will close on 31 July.
Recommended for you
ASIC has warned that practices across the $200 billion private credit market are inconsistent and, in some cases, require serious improvement.
A surge in electricity prices has driven the monthly Consumer Price Index to its highest level in a year, exceeding forecasts.
Infrastructure well-positioned to hedge against global uncertainty, says investment chief.
The fund manager remains positive on the outlook for gold and believes ongoing market volatility will provide opportunities to acquire small-cap stocks in promising sectors.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
