Apostle arrives bearing new gift
A well-established investment fund is being brought to New Zealand in an ETF format by Apostle Funds Management.
Monday, February 8th 2021, 10:38PM
The Australian multi-affiliate firm is planning to launch the Apostle Dundas Global Equity Fund, a new exchange traded fund option of its current managed investment trust.
Dundas Partners, an Edinburgh-based global equity manager, focuses on the factors that drive long-term total returns – dividend growth plus dividend yield.
The firm, which was established in 2012, currently managers around US$1.5 billion. it says its investment strategy has delivered a long and successful track record and the launch of this exchanged traded offering will allow Australian and New Zealand investor to access its strategy.
The investment strategy has delivered net returns of 14.97% over 3 years and 13.20% over five years making it one of the top performing global equity funds over the long term.
Dundas employ fundamental bottom-up research with a portfolio that has delivered capital preservation and good downside protection.
The fund will charge total management fees and costs of 0.90%, well below the category median of 1.35% and it does not have a performance fee.
In a statement it says the fund "may be suitable for investors who are seeking long term risk adjusted returns within the global equity part of their portfolio either as an alternative for a current global growth strategy or to increase diversification in a portfolio overweight in Australian equities."
K2 Asset Management has been selected as its responsible entity. K2 have a strong track record in operating actively traded quoted managed funds with both domestic and global equity mandates.
Apostle Funds Management managing director Karyn West says; “We are pleased to bring a high-quality manager with a market leading product in an ETF format. It is a fully active portfolio of high-quality companies with sustainable dividends and is well priced for our market. In addition, this portfolio has been highly rated on its ESG merits.”
K2 Asset Management chief executive Campbell Neal says it is "a natural partnership with both Apostle Funds Management and Dundas Partners" to operate and monitor the new global equity actively traded ETF.
The ETF is set to launch early this year.
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