Ten Cap to list first active ETF on the ASX
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The news: Investment management firm Ten Cap will launch its first active ETF TCAP and list it on the ASX on 24 November.
The context: The ETF’s investment strategy will mirror the strategy used by the firm’s long-standing investment offering Alpha Plus which has so far only been available to institutional and advised investors.
According to the investment firm, TCAP aims for ‘equity-like’ returns “but with less market volatility given the strategy’s ability to hold both long and short positions”.
It offers “core exposure” to the ASX200 index but also has the option of holding 10% outside the benchmark in small and mid-cap stocks. The strategy is also ‘style agnostic’ and uses a “proprietary sector-based hedging strategy”.
Under the management of Ten Cap co-founder and lead portfolio manager Jun Bei Liu since 2019, the Alpha Plus fund has delivered a return of 12.9% a year, better than the ASX200 performance of 9.9%.
What they said: “This ETF represents a number of firsts for Ten Cap, following the launch of the business earlier this year,” Ten Cap co-founder and CEO Jason Todd said.
“We wanted to offer an institutional grade product to a new set of investors and believe that ETFs are a great vehicle in which to do so and the right step for the growth of Ten Cap as a business.”
The source: Ten Cap media release
