Anthony has over 10 years’ experience and joins from Westpac where he held multiple roles across the institutional business, including corporate advisory, credit derivatives markets, and since 2016, Debt Capital Markets. Anthony’s previous experience includes roles with Credit Suisse and Taifook Asset Management in Hong Kong. Anthony holds a Master of Applied Finance (Macquarie University), Bachelor of Commerce (University of New South Wales) and Bachelor of Pharmacy (University of Sydney).

Anthony’s appointment strengthens Mirae’s alternatives business which operates primarily in real estate, infrastructure, private debt and venture capital.

Luke Gersbach, Mirae’s Head of Alternative Investments announced the new appointment noting: “We are pleased to welcome Anthony to Mirae Asset Global Investments. The expansion of our alternatives team demonstrates our commitment to growing our business in the alternatives space as we are increasingly attracted to the risk-return profile of the Australian market.”

Kris Walesby, Mirae’s Chief Executive Officer added: “The addition of Anthony to our Alternatives business enhances our ability to source quality investments for our clients. With Anthony’s skills and experience, we will be well placed to grow this area of our business.”

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The appointment of Mr. Hannon marks a major step in building Global X’s presence in Australia, ahead of the firm’s formal launch of its Australian ETF product lineup – expected later this year.

Mr. Hannon most recently served as NSW State Manager at BlackRock, where he spent the past four years driving ETF adoption. His key focus was the investment advice market segment of brokers and private bankers, providing market analysis linked to trade ideas, educational content and thought leadership. Prior to working at BlackRock, Hannon spent 12 years at Commonwealth Bank, where he was a Senior Investment Adviser offering investment advice to high and ultra-high net wealth clients on equities, derivatives and funds. He has a Bachelor of Finance from Newcastle University, an MBA from the Australian Graduate School of Management at the University of New South Wales and an Advanced Diploma of Financial Planning.

“I am excited to be joining Global X as Head of Investment Strategy, Australia, at a thrilling time in the company’s development within the Australian market,” says Mr. Hannon. “Global X has an impressive range of quality financial products, particularly thematic and income ETFs, and I look forward to working with clients to draw on those resources to build their portfolios in today’s dynamic environment.”

Kris Walesby, Head of Global X in Australia, welcomed Hannon, commenting: “We are excited to have an experienced investment expert join our team in Sydney. As we get ready to launch a wide range of ETFs in Australia, Blair will work closely with the research, marketing and sales teams to facilitate understanding and trust in our funds. Given his vast knowledge of the Australian investor landscape, he will be instrumental in consumer adoption of Global X’s ETF lineup in Australia.

“The addition of Mr. Hannon represents Global X’s strong commitment to building a presence in Australia to offer local investors access to its innovative product lineup.”

Global X has established itself as the global leader in thematic investing, with more than 30 Thematic Growth ETF strategies offered across the US, Europe and Asia, representing over US$20 billion in AUM.^[2] Global X’s Thematic Growth ETFs bring investors access to a broad set of companies around the world with pure-play exposure to paradigm-shifting themes that reflect long-term, structural trends across geographies and across sectors.

While Global X is a pioneer in thematic investing, the firm also offers an impressive lineup of word-class ETFs spanning Income, International Access, Commodity and Risk Management solutions.

Over the past several years, Global X has worked to develop the infrastructure to be a leading ETF issuer, not just in the US, but in key global ETF markets.

“Global X is one of the most trusted and admired ETF brands in the world as shown by the confidence of more than a million clients in 95 different countries,” said Luis Berruga, CEO of Global X ETFs. “Blair is joining Global X alongside Kris Walesby at a key moment in the firm’s Australian expansion, and I am thrilled to be able to offer our growing product lineup to investors in the Australian market in the near-term.”

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[1] Source: Global X, as of 1 March, 2022
[2] Source: Global X, as of 1 March, 2022

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Kris Walesby

Mirae Asset Global Investments, a leading global investment manager with over AUD 305 billion in assets under management^[1], has appointed Citi Australia as its provider of custody and fund administration services for its Australian traditional fund business.

With over $30 trillion^[2] of assets under custody and administration and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with extensive on-the ground local market expertise, innovative post-trade technologies, customised data solutions, and a wide range of custody and fund services.

Kris Walesby, Chief Executive Officer, Mirae Asset Australia noted: “We are delighted to partner with a highly experienced partner such as Citi as we strategically look at growth in Australia.”

“Mirae Asset Global Investments works closely with Citi in a number of markets globally, and we look forward to their support and enhanced infrastructure further enabling us to provide a quality experience for current and future investors in Australia.”

Oliver Reynolds, Chief Operating Officer, Mirae Asset Australia added: “We are expanding in Australia and our trusted partnership with Citi will enable us successfully execute our expansion of products, across both passive and active investment solutions and grow our investor base.”

“We have expanded our presence in Australia as well as increasing investment in our people and overall platform in the last couple of years. Having Mirae Asset Global Investments select Citi for their custody and fund administration needs is a validation of those efforts and we are honored to be able to work with Mirae Asset Global Investments in Australia as we already do in a number of geographies,” said Martin Carpenter, Citi’s Head of Securities Services in Australia.

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[1] We currently invest over AUD 305 billion on behalf of clients, giving us the scale and experience to identify opportunities in a changing world (AUM as of 31 October 2021)
[2] As of Q2 2021. AUC/A figure separately represents gross assets for which Citi provides Global Custody and sub-custodian services via its Direct Custody and Clearing business and includes Issuer Services. Citi previously reported AUC/A numbers on a net basis, therefore discounting assets serviced by both businesses

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This follows the earlier appointments in July of Kris Walesby as the CEO, and Oliver Reynolds as the COO for the region.

Olya Zenchenko, an experienced marketer, joins Mirae as the Marketing Manager from the Pendal Group, where she was involved with developing successful marketing strategies targeted at financial advisers. She has also worked at Conexus Financial and PWC in various sales and marketing roles.

Rose Nguyen joins the team as the new Alternative Fund analyst, utilising her experience of working across financial services, advisory firms and fund services. She has worked previously at Apex Fund Services as a Hedge Fund Accountant.  Prior to that, she was at Stafford Capital Partners as a Fund Administrator and at BNP Paribas Securities Services.

Kris Walesby CEO, Mirae Asset Australia noted: “We are very pleased to attract professionals of such a high calibre as we strategically look at growth in Australia. We look forward to our strengthened team working cohesively towards building a strong Australian identity.

“We are seeking to position the firm as the market-leading asset manager that brings innovative investments to all Australian investors, from retail to wholesale to institutional.

“We are at an exciting period right now and look forward to launching our new suite of Global X and venture capital products to the Australian market in 2022,” said Walesby.

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[1] Mirae Asset Global Investments currently invest over A$284 billion on behalf of clients, giving us the scale and experience to identify opportunities in a changing world (AUM as of September 2021)

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Kris Walesby

Mirae Asset Global Investments, a leading investment manager with over $280 billion in assets under management, has announced the appointment of Kris Walesby as the CEO for its Australian operations.

In addition to Walesby’s appointment, Oliver Reynolds also joins Mirae Asset Global Investments as the COO for the region.

Both these senior appointments signify Mirae Asset’s strategic move to grow its business in Australia.

Walesby, a seasoned investment professional, joins Mirae Asset from ETF Securities as its CEO for five years, where was responsible for establishing ETF Securities as one of Australia’s leading ETF provider. He previously worked in London for various investment managers, including Blackrock and, before moving to Australia in 2015, as head of capital markets for Europe, Middle East and Africa at Invesco Powershares.

Reynolds has extensive funds management experience across a range of asset managers and asset classes. He was most recently the Chief Financial Officer at Coolabah Capital. He has also worked in senior positions across the XTB group, Blackrock Asset Management and Westpac.

Young Kim, Head of Global Business at Mirae Asset Global Investments, welcomed Walesby and Reynolds to the Australian team.

He says: “Combined with Kris’s deep knowledge and understanding of investment management sector and his successful track record in growing businesses and developing people, we look forward to his contribution towards strengthening the Australian business.”

Walesby says he is excited and privileged to be appointed to the new leadership position at Mirae Asset.

“My goal as CEO is to position the firm as the market-leading asset manager in Australia providing innovative investments. We want to be regarded by clients, and broader communities, for consistently providing the best of breed investment solutions.

“With the combination of Mirae Asset’s deep fund management expertise and the local knowledge of the existing team, we hope to establish a strong Australian identity,” he adds.

Mirae Asset remains active in Alternative Investments across the region led by Luke Gersbach, and despite a relatively subdued appetite for such investments during the Covid – 19 pandemic, Mirae Asset continues to explore opportunities across the Alternative asset spectrum of private debt, private equity and real estate.

The Australian equity distribution will continue to be supported by Don Gunawan as Head of Australian business development. He will oversee the distribution of Mirae Asset Global Investments Asia ex-Japan Equity Funds to Australian institutional and wholesale/retail investors.

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As such, Mr Tuckwell will play a more active strategic role in defining the future direction of the business, applying his decades of experience in building the international ETF businesses.

As part of this new business structure, the role of Australian CEO is no longer required and the incumbent, Kris Walesby is leaving with immediate effect.

The firm also announced the established senior management team will take on expanded responsibilities and be responsible for the daily operation of the firm, reporting directly to Mr Tuckwell.

Kanish Chugh has been appointed as Head of Distribution. He will be responsible for growing the client base by building and strengthening partnerships with institutions, financial intermediaries, retail customers and self-directed SMSF investors.

Evan Metcalf has been appointed as Head of Product. He will be responsible for the development and management of products, as well as the management of capital markets relationships and the oversight of investment research.

Cliff Man has been appointed as Head of Portfolio Management. He will be responsible for portfolio management, as well as for business intelligence and the oversight of the information technology functions of the company.

Graham Tuckwell, Executive Chairman ETF Securities Australia said: “I am pleased and excited to be back in Australia and look forward to a more active and strategic involvement in defining the future direction of this strong firm.

“Today, ETF Securities has surpassed $3 billion in funds under management, doubling assets in just under two years. Kris has played an important role in leading the Australian business for the last five years and we wish him every success in his future endeavours.

“With the Australian ETF industry touching an all-time high of $70 billion in funds under management we believe that there are great opportunities in Australia for the business to accelerate and capitalise on its recent growth. We are committed to the Australian ETF market, excited for its potential and the role we have in making this a reality,” added Mr Tuckwell.

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Kris Walesby

With the Australian ETF industry touching an all-time high of $67.2 billion in funds under management (FUM) in recent weeks, ETF Securities has announced it has surpassed $3 billion in FUM.

ETF Securities recorded high investment inflows in recent months as investors flocked to invest in liquid, easy and transparent products like ETFs to manage COVID-related volatility.

The firm has seen its FUM double in under two years.

ETFS Physical Gold (ASX: GOLD) has been a standout for the firm, but the firm also benefited from carefully selected index exposures such as ETFS Morningstar Global Technology ETF (ASX: TECH) and recent launches of ETFS FANG+ ETF (ASX: FANG) and new short and leveraged NASDAQ trading products (ASX: LNAS and SNAS).

ETF Securities CEO Kris Walesby says, while pleasing, reaching this milestone has not surprised the team given broader market activity.

“ETF trading for the entire Australian market has more than doubled over the course of the COVID pandemic as investors sought fast and broad exposure to diverse market opportunities. Investors increasingly understand and see ETFs as a core investment tool for their portfolios, with the overall growth of the Australian ETF market and range of products available testament to this,” says Walesby.

“We continue to see strong inflows coming from the professional investment community and the self-advised investors via SMSFs and online trading accounts. There is an increased awareness about the impact of gold in portfolios as it is viewed as a hedge against an equity market sell off and lauded for its lack of correlation to mainstream asset classes.”

ETF Securities Physical Gold ETF is the world’s first pure gold ETF having listed on the ASX in 2003.

Walesby says: “Year to date inflows total $683m into the GOLD ETF (as at 19 August 2020), and total funds under management are now $2.1 billion for this fund. Fundamentally gold and silver are still forecasted to push forward, given the current economic environment.

“The ETFS Physical Silver (ETPMAG) has also witnessed strong demand at the back of strong correlation with gold, recording more than $200 million in FUM this year.

“We are continuously grateful for the strong vote of confidence represented by investor activity in our ETFs. The number of transactions, and volume and value figures, reached all-time highs this year, showing the versatility of these funds which allows investors to do what they want to do,” notes Walesby.

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Kris Walesby

High gold price and the growing number of coronavirus cases globally could give investors ‘cause to pause’ and review investments options in what many are calling the new normal, according to ETF Securities CEO Kris Walesby.

“Tech stocks have been strong for some time now, with the Nasdaq up 15% this year whilst the Dow is slightly down for the same period.

“The question I encounter in many investment forums, formal and informal is: ‘what other sectors could offer growth in the current environment?’. Given the likely increasing length of the current COVID-19 malaise globally and the diminishing prospects of a V shaped recovery, there are several sectors that warrant serious consideration.”

“Precious metals continue to hold appeal as a hedge against market volatility. Gold pushed through the all-time high mark recently and is likely to maintain value for some time due to quantitative easing programs across the globe and ongoing risks from COVID-19.

“Silver has traditionally followed gold closely and may be set for market interest as investors look for alternatives to gold. Other resources also continue to be in demand, for example, iron ore reached 12-month spot price highs in recent times and there has been recovery in oil prices.

“The healthcare sector, particularly biotechnology, has benefited during the COVID-19 pandemic. While investors have focused on those companies working on COVID-19 vaccine exploration, there are still opportunities through companies covering everyday needs, such as vitamin or painkiller manufacturers, to those covering serious diseases and illnesses, for example, immunotherapy treatments or medical equipment like ventilators.

“Consumer staples companies can assist with stability during the ongoing COVID-19 situation. For example, consumers continue to need and purchase groceries so companies like Coles and Woolworths are able to continue operations largely unaffected. They are also classified as essential businesses even in the more extreme levels of lockdown.

“Similarly, investors could selectively look at infrastructure companies, such as energy providers, as a buffer against volatility. In the current situation, many individuals have seen their reliance on essential infrastructure, such as for energy, water or internet, increase as they spend more time at home.

“Another way to look at energy is the renewable energy and electric vehicles sector, also a growing market and becoming increasingly accessible and affordable. Battery technology is central to this growth and also established technology with continued innovation. So, investors may consider this as a long-term growth-oriented investment in environmental sustainability,” adds Walesby.

“Investors can invest in this theme via ACDC, Australia’s first ETF to provide exposure to the energy storage and production megatrend. It can be used as a thematic growth exposure or a tactical tilt towards emerging technologies in the industrials and materials sectors,” says Walesby.

“Of course, at some point the ‘pandemic sector sufferers’ – the stocks that lose the most during the pandemic – such as travel, leisure, oil, personal services, banks, real estate will look attractive, however we don’t think we are there yet,” said Walesby.

ETF Securities provides investors who wish to invest in diverse sectors with a convenient, transparent and simple investment avenue via specialised ETFs.

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Kris Walesby

In times of trouble, investors tend to turn to gold.

That truism is being played out before our eyes again this year amid a global pandemic, a global recession and, possibly but hopefully not, a global depression notes Kris Walesby, CEO ETF Securities.

A third element of the ‘triangle of trouble times’ is of course the heightened trade and security tensions between the world’s two largest superpowers, USA and China, says Walesby.

The price of gold in the last week of July 2020 is now at an all-time high in both US dollars terms: nudging the USD 2000 an ounce, and spectacularly so in Australian dollar terms at circa AUD 2700 (see accompanying graphs).

The question for the average investor who subscribes to the gold ascension is how to act.

Walesby adds: “The two simplest, efficient and most accessible routes to gold ownership are via investing in ASX listed gold mining equities, like the three largest Australian producers – Newcrest (ASX:NCM) Northern Star (ASX:NST) and Evolution Mining (ASX:EVN).  Alternatively, and just as easily, investors can purchase a pure gold ETF (exchange traded fund), again listed on the ASX.”

ETF Securities Physical Gold ETF with the ASX code GOLD was the world’s first such pure gold ETF.

Walesby says: “The GOLD ETF is backed by physical allocated gold bullion held by JPMorgan Chase Bank, N.A. (as the custodian) in London and is unhedged.  Each physical bar is segregated, individually identified and allocated which means there is no credit risk. Investors can choose to redeem units for the physical holdings.

“Gold arguably began its most recent climb to breach the previous peak in mid-2019, when many investors considered the value of gold in a market where negative interest rates had become the norm.

“We only hit the $1 billion milestone in assets under management with our GOLD ETF in September 2019, so the combination of price moves and inflows has led to the assets doubling in less than a year. Year to date inflows total $578m into the fund as at 28^th July and total assets under management are now $2 billion.

“Without wishing to sound too pessimistic, let’s not forget that gold should do well if, and when, investors realistically evaluate the chances of a sustained equity market recovery compared to the possibility that the world may be entering the first great depression of the 21^st century,” notes Walesby.

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Kris Walesby

The growing appetite for investors to trade their conviction has led to the launch of ETF Securities ‘Ultra’ trading products – ETFS Ultra Short Nasdaq 100 Hedge Fund (ASX code: SNAS) and ETFS Ultra Long Nasdaq 100 Hedge Fund (ASX code: LNAS).

Both allow investors to trade leveraged exposure to the Nasdaq 100 index, one of the world’s most prominent large-cap growth indices, featuring iconic companies like Apple, Google, Intel and Tesla.

LNAS aims to provide investors with geared returns that are positively related to the returns of the Nasdaq 100 index between 200% and 275% of its net asset value.

SNAS aims to provide investors with geared returns that are negatively related to the returns of the Nasdaq 100 Index. The fund provides exposure to the Nasdaq 100 Index of between -200% and -275% of its net asset value.

Both these ETFs are currency hedged. Each achieves exposure to the Nasdaq 100 Index using derivatives. They invest primarily in a portfolio of short E-mini Nasdaq 100 Futures contracts listed on the Chicago Mercantile Exchange.

Kris Walesby, CEO ETF Securities, said: “We are very excited to launch these two trading products. These products show the growing innovation in the ETF space. The

leveraged/short ETFs has witnessed a continuous rise in popularity as investors cannot lose more than the value of their initial investment, compared to using other leveraged instruments.

“These products are positioned as short-term investments – investors might trade these for a day, specifically as a temporary conviction play. These trading products give power to investors to trade based on their expectations of whether the Nasdaq 100 will gain or fall in the short-term, as well as offer the ability to create a temporary hedge for existing positions and avoid the need to sell, either crystallising losses or creating a capital gain.”

Evan Metcalf, Co-Head of Portfolio Management for ETF Securities added: “Geared or leveraged trading products such as LNAS and SNAS are likely to be used by highly experienced investors and traders to gain short-term market exposure. Because of their ability to amplify returns, they require less capital to be committed upfront than traditional investments, which makes them attractive to different types of users.

“There are two primary users of geared ETFs: traders who look to take speculative stand-alone positions and investors looking to implement temporary shifts in asset allocation as part of a considered portfolio repositioning. In both cases, their investment horizon is short-dated – often less than a day. In many cases, the investment horizon is driven by an upcoming event that the trader or investor has a high conviction view on; examples might include economic data releases, earning announcements of key companies or technical model signals.

“A key advantage of leveraged ETFs is their simplicity of use compared with alternative sources of leverage, which include borrowing (via a margin facility, for example) and direct use of derivatives, both of which may be costly, complex or inaccessible to certain investors,” added Mr Metcalf.

Mr Metcalf noted: “A word of caution. Leveraged ETFs are high risk investments. As with any geared investment, leveraged ETFs not only magnify gains, they also magnify losses and investors need to be aware of their risk tolerance and continually monitor their investment when using these products. These are not your traditional long-term buy-and-hold investments.”

LNAS and SNAS both charge management costs of 1.00% per annum.

Rob Hughes, Head of Index and Advisor Solutions, Nasdaq Global Indexes, said:“The Nasdaq-100 Index is the benchmark for tracking the global companies changing the way we work, socialise, transact, and move every single day. From technology to medicine to industrials, there is almost no corner of innovation that Nasdaq-100 Index does not track. With ETF Securities’ launch of LNAS and SNAS, investors in Australia will also now have new access to the first leveraged and inverse Nasdaq-100 ETFs launched on ASX. We look forward to expanding our collaboration with ETF Securities and enabling investors to capture market potential in a more efficient, easy and cost-effective way. Congratulations to the ETF Securities team.”

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