Vic Jokovic

Chi-X Australia (“Chi-X”) is pleased to welcome the newly launched Magellan FuturePay (Managed Fund) (“FuturePay”, Chi-X symbol ‘FPAY’), issued by Magellan Asset Management (“Magellan”), to its growing suite of Chi-X Funds.

FuturePay commences trading at 12pm on the 2nd of June and aims to deliver investors with a predictable monthly income that grows with inflation, is driven by returns and capital growth, and has a focus on downside protection.

Magellan’s Chief Executive Officer, Brett Cairns, said “We are pleased to again be partnering with Chi-X to bring our latest fund innovation, FuturePay, to the Australian market.”

“We believe FuturePay will help investors and their advisors to meet the challenges of establishing a regular income from their accumulated savings, a problem particularly relevant to those in retirement.”

FuturePay invests in a portfolio of high-quality, low volatility companies listed on securities exchanges around the world which Magellan believes can deliver attractive, risk-adjusted returns over the medium to long term. Importantly, FuturePay also incorporates a unique reserving strategy which underpins its objective of providing investors with a predictable monthly income that grows with inflation.

Magellan Financial Group’s Head of Retirement Solutions and Data Science, and FuturePay Portfolio Manager, Paddy McCrudden, said FuturePay offered a viable alternative for Australians reaching retirement age.

“We think that FuturePay really addresses an unmet need in the Australian retirement landscape. The combination of a portfolio of high quality, low volatility global companies and a reserving strategy with on-going income support means that FuturePay has the potential to significantly improve outcomes for investors in retirement.”

Chief Executive Officer of Chi-X Australia, Vic Jokovic, said FuturePay was an example of rigorous and disciplined product innovation.

“We are excited to be the exchange provider of choice for Magellan’s FuturePay, which is set to be a real game changer for investors, most notably for Australia’s rapidly expanding post-retirement cohort,” Mr Jokovic said.

As more Australians seek access to global opportunities, Mr Jokovic said the recent strong demand for ETFs showed no signs of abating.

“Active ETFs have proven to play an important role for investors and Chi-X Funds continue to experience significant growth. FuturePay will be the ninth fund to launch on Chi-X in under six months. This adds to a growing list of Active ETFs on our platform that aim to deliver greater diversity to the portfolios of Australian investors.”

Chi-X Funds began trading on exchange in October 2019, enabling issuers to provide investors with access to managed funds, together with the convenience of daily quotation and trading. The MFG Core Series and the Magellan Sustainable Fund commenced quotation on Chi-X Australia in December 2020.

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Mr D’Arcy joins Chi-X with over 15 years’ experience across Europe and Australia. Most recently Mr D’Arcy was National Business Development Manager – Investment Products for Australian Securities Exchange (ASX), where he focused on the sales and distribution of ASX’s investment products suite and optimisation strategies. During his seven year tenure at ASX, Mr D’Arcy was previously a Technical Account Manager, where he led the technical relationship management of exchange customers across trading, market data and technology sectors.

Prior to this, Mr D’Arcy worked at Citibank, Merrill Lynch and Macquarie Funds Group, where he held key senior positions within investment services, securities lending and fixed income trading functions.

Commenting on the appointment, Chi-X Australia CEO Vic Jokovic said: “We are pleased to welcome Oran to the Chi-X team. His deep knowledge of the investment landscape and client solutions strategy makes him a valuable addition to our growing investment products team.”

Based in Sydney, Mr D’Arcy will be responsible for further enhancing the opportunities for Australian investors through Chi-X’s innovative range of investment products including Transferable Custody Receipts (TraCRs), Warrants and its rapidly expanding suite of Chi-X Funds.

Chi-X Australia plays a key role in the development and growth of Australian capital and investment markets through product innovation, which is delivering cost savings and deeper liquidity to investors.

The exchange recently admitted Jarden as its 50th trading participant and in March this year it was announced that Cboe Global Markets had entered into an agreement with J.C. Flowers to acquire the Chi-X group, including Chi-X Australia. The Cboe acquisition is expected to close in the coming months.

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Vic Jokovic

Global asset manager AllianceBernstein (AB) has partnered with Chi-X Australia to make one of its leading funds available to Australian investors via the Chi-X Australia stock exchange.

The AB Managed Volatility Equities Fund (Managed Fund)—MVE Class (AMVE) joins a growing list of funds to commence trading on the Chi-X Australia platform amid strong demand for exchange-traded products.

AMVE is the first equity fund to be quoted on exchange by the AB group.

AllianceBernstein Australia Limited Chief Executive Officer Jen Driscoll said that AMVE had been designed for Australian investors who wanted actively managed equity strategies with lower volatility.

“We are excited to see AMVE now available to a wide range of investors on the Chi-X stock exchange. AB developed AMVE seven years ago in collaboration with a major Australian superannuation fund which wanted to give its members a smoother, but still rewarding, return profile in volatile markets. Our partnership with Chi-X is an opportunity to make this innovative and successful strategy more readily accessible,” she said.

“The launch of AMVE on Chi-X will give more equity investors, including retirees and those transitioning to retirement, the potential benefits of an investment approach which aims to reduce exposure to market drawdowns while participating significantly in market recoveries.”

AMVE aims to achieve returns that exceed the S&P/ASX 300 Accumulation Index after fees over the medium to long term. The Fund invests mainly in Australian listed shares, with up to 20% of its assets in global developed-market shares. It can also hold up to 20% in cash as a short-term defensive measure at times of heightened equity market volatility.

Since inception to the end of February 2021, the fund has delivered a total return after fees of 9.60% with lower volatility, compared to the 7.51% return for the S&P ASX 300 Index.^[1]

AllianceBernstein Managing Director, Australia Client Group, Ben Moore said: “AB’s focus on bringing together a wide range of insights, expertise and innovations has resulted, in AMVE’s case, in a strategy which, since inception, has delivered above market returns with lower volatility than the index and won multiple industry awards. We are pleased to be partnering with Chi-X to deliver AMVE to a broader investing public.”

Chief Executive Officer of Chi-X Australia, Vic Jokovic, said the search for more stable returns in an uncertain environment and continuing market volatility is stronger than ever.

“A challenging global investment landscape, including historically unusual policy settings and unforeseen events such as COVID-19, have added to the risks that Australian investors face,” Mr Jokovic said. “We are pleased to welcome AllianceBernstein and AMVE on to Chi-X. This adds to a growing list of Active ETFs on our platform that aim to deliver greater diversity to the portfolios of Australian investors.”

AMVE is issued by AllianceBernstein Investment Management Australia Limited (ABIMAL). While ABIMAL will be responsible for market-making, Macquarie will act as ABIMAL’s agent for market-making services.

Chi-X Funds began trading on exchange in October 2019, enabling issuers to provide investors with access to managed funds together with the convenience of daily quotation and trading.

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Mr Williams joins Chi-X with over 20 years’ experience working in the capital markets industry. Most recently John was Head of Admissions at the National Stock Exchange of Australia, where he led the development of an admissions strategy and technology solution from the ground-up while ensuring full alignment with regulatory requirements.

Prior to this, he held several key senior roles at the Australian Securities Exchange (ASX) across ten years, including General Manager Listings Operations, Senior Manager Market Access, and Manager Clearing and Settlement Operations.

Commenting on the appointment, Chi-X Australia CEO Vic Jokovic said: “We are excited to welcome John to the Chi-X team. His deep knowledge of financial technology systems, infrastructure and strategy makes him a valuable addition to our management team.”

Based in Sydney, Mr Williams will be responsible for execution of the organisation’s day-to-day operational business strategy and commitment to excellent customer service.

Chi-X Australia plays a key role in the development and growth of Australian capital and investment markets through product innovation, which is delivering cost savings and deeper liquidity to investors.

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