Sydney boutique heads for Chi-X

A boutique founded by former Kapstream portfolio manager is gearing up to list three strategies as ETFs on Chi-X.

Daintree Capital has partnered with distributor eInvest to list the funds.

They will have three risk profiles and return targets of 0.5%, 2% and 4% p.a. above the cash rate.

"With interest rates where they are, many investors are looking for more from their term deposits," Daintree portfolio manager Mark Mitchell said.

"We are pleased to help meet investor's needs by offering them a liquid, diversified, cost-effective solution that seeks to preserve capital while maximising current income above what is generally offered through cash products."

The eInvest Cash Booster Fund (managed fund) (ticker code: ECAS) will have a return target of 0.5% above cash rate (net of fees). It will invest in cash, term deposits, short-term money market and fixed income instruments, and hold a portfolio of 70 issuers.

The eInvest Core Income Fund (managed fund) (ticker code: ECOR) has a return object of 2% above cash rate, from a portfolio of cash and fixed income.

The eInvest Income Maximiser Fund (managed fund) (ticker code: EMAX) will target 4% above the cash rate.

All three funds are managed Mark Mitchell and Justin Tyler, who left Kapstream Capital and Aberdeen Standard Investments respectively to co-found the boutique in 2017. They have since expanded the team with new hires and now manage about $150 million.

eInvest has picked Chi-X over the ASX as the primary listing venue for the ETFs.

"The launch of ECAS and partnership with Chi-X provides investors with even greater access to innovative active fixed income products on a regulated exchange," eInvest managing director Camilla Love said.

Chi-X kicked off its ETF lineup last month, expanding its remit from just trading ETFs to listing them.

Read more: Chi-XMark MitchellDaintree CapitalKapstream CapitalAberdeen Standard InvestmentsASXCamilla LoveeInvest Cash Booster FundeInvest Core Income FundeInvest Income Maximiser FundJustin TylerSydney
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