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FuturePay (Managed Fund) Lists on Chi-X
FuturePay (Managed Fund) (Chi-X: FPAY) commenced trading on 2 June 2021. FPAY seeks to provide investors predictable, monthly distributions that grow with inflation, with the potential for capital growth and protection in down markets. The Fund is managed by Magellan Asset Management and seeks to achieve its objective through an investment in a portfolio of securities that replicate a blend of the Magellan Global Plus strategy (50%- 60%) and the Magellan Core Infrastructure strategy (40%-50%), in combination with a reserving strategy whereby cash will be directed to a discretionary trust (“Support Trust”) to support distribution payments if the portfolio performance is insufficient to meet the distribution requirements in any given period.
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Listed Investment Company (LIC) is a listed investment vehicle that offers investors access to a diversified portfolio of shares in other companies also listed on the stock market.
Note: For comprehensive comparative data tables for LICs and ETFs please see attached.
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Qualitas Real Estate Income Fund ((QRI))
Raises $54m
On 1 April, QRI announced the successful completion of a $54m placement to a select group of existing shareholders and new wholesale investors. As part of the placement, QRI issued 33.75m new fully paid ordinary shares at $1.60 per share, representing a 0.94% discount to the 10 day VWAP leading into the announcement.