Equities manager ECP Asset Management has flagged plans to launch a new listed investment company to “provide a pathway” for SMSFs to access small and mid-cap ASX stocks.
ECPAM head Dr Manny Pohl said a particular “target investor” of the Barrack Street Investments LIC capital raising would be “small super funds”.
“We believe it will find favour with the increasing number of SMSF trustees looking for strong income yields, capital growth and low risk,” Dr Pohl said.
“It is widely acknowledged that SMSFs' bias is heavily weighted to ASX Top 50 companies and cash.
“Barrack Street will provide investors with a convenient and familiar pathway to high-quality stocks outside the ASX Top 50.”
Dr Pohl explained there is a “strong demand” for a specialist “small and mid-cap” investor with this type of bottom-up, “value-based investing philosophy”.
ECPAM highlighted that the offering is targeting a maximum of $50 million, with the LIC aiming to achieve medium- to long-term capital growth and income through dividends.
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