Watermark Funds Management completes global equities exit
The January announcement by hedge fund manager Watermark Funds Management to withdraw from global equities had its corollary on the Australian Securities Exchange (ASX) with the company announcing schemes of arrangement covering the Watermark Global Leaders Fund and the Watermark Market Neutral Fund.
The manager announced that the it was applying for the removal of the two vehicles from the official list of the ASX at the close of trading yesterday with shareholders in the two products receiving units in the Watermark Absolute Return Fund.
The move also saw the resignations of directors Matthew Kidman, John Abernethy, Stephen Van Eyk and Robert Ferguson.
Watermark announced in January that it intended to restructure its investment team to focus exclusively on Australian equities.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.
