Barrack St Investments to list on 14 August 2014
for SMSFs to access high quality small and mid cap ASX stocks
Manny Pohl
Barrack Street Investments Limited (BST) has successfully raised $16 million through its Initial Public Offer and is scheduled to list on the ASX on 14 August 2014. The listed investment company to be managed by boutique Australian equities manager ECP Asset Management (ECPAM), headed by Dr Manny Pohl will invest in a portfolio of quality small and mid-cap ASX listed companies.
Pohl’s Barrack St LIC aims to achieve medium to long-term capital growth and income through fully franked dividends with an objective of exceeding a benchmark return of 8%pa.
A particular target of the Barrack Street Investments LIC capital raising was small super funds with fewer than five members.
“It’s widely acknowledged that SMSFs are heavily weighted to ASX top 50 companies and cash,” said Pohl.
“We are delighted that our message of diversification beyond the top 50 ASX stocks resonated with the SMSF sector and others.”
Dr Pohl has achieved outstanding results in the small and mid-cap segment during his 30 years of investment experience. In the period from its inception in July 2013 to March 2014, ECPAM has returned 24.8% against a benchmark return of 5.3%, and the ASX Small Ordinaries Accumulation Index which has seen a modest return of 5.4%.
The offer was priced at $1.00 per share and investors in the IPO will receive a free 24-month option for every share subscribed for, exercisable at $1.00. Morgans Corporate was Lead Manager to the Offer, which closed on 31 July 2014.
