The new LIC is invested in global securities, and uses a long-short investment strategy with active currency management, with Antipodes chief investment officer Jacob Mitchell saying it offers retail investors extra diversity.
“Australian retail investors are traditionally weighted towards Australian-domiciled investments. Antipodes Global Investment Company offers investors much-needed diversification, providing easy access to global markets,” he said.
The LIC is based on Antipodes Partners’ managed fund, the Antipodes Global Fund, which delivered a net return of 7.4 per cent in its first year.
“Our ability to generate returns from both long and short positions, as well as active currency management, provides investors with a portfolio that is attractive for both capital preservation and positive returns,” Mr Mitchell said.
The company said its strategy is to generate “absolute returns in excess of the benchmark” to grow wealth over the long term.
Antipodes Global Investment Company is looking to raise $220 million in the IPO, with the capacity to take an additional $110 million in oversubscriptions.
Fortnum hires former Centric Wealth CEO
SMSF Association names new chair
Avenir Capital hires investment director
Striking a balance between security and innovation
Backing China in the Year of the Dog
The benefits of good data governance