HWL Ebsworth advises K2 Asset Management on ETMF

Monday, 20 July 2015

A Melbourne-based team from HWL Ebsworth Lawyers has advised K2 Asset Management Ltd on the listing of the K2 Global Equities Fund (ASX: KII), which is one of the first few actively managed "Exchange Traded Managed Funds" (ETMFs) to list on the Australian Securities Exchange (ASX). Melbourne based partner, Anthony Seyfort led the team.

The K2 Global Equities Fund, managed by K2 Asset Management, listed on 20 July 2015. It is anticipated that this new listed ETMF will target between $200 million and $400 million, and hopes to attract interest from retail investors and self managed superannuation funds.

"ETMFs will be increasingly popular and could well overtake traditional listed investment companies (LICs) as the listed investment vehicle of choice. ETMFs are more flexible since they are 'open ended' and do not need to set a floor or a ceiling on the level of subscription needed. ETMFs could also provide greater liquidity
for investors." Anthony Seyfort explained.  

This transaction for K2 Asset Management follows a number of other recent, novel capital markets transactions for the HWL Ebsworth corporate team, including the Linc Energy switch of bourse from the ASX to the Singapore General Exchange, and a number of listings of companies active in China on the ASX, including 99 Wuxian and eCargo Holdings. In addition to this capital markets expertise, HWL Ebsworth has a substantial practice offering legal support to a large number of managed funds and investment vehicles, including venture capital limited partnerships.

Note to Editors:

HWL Ebsworth is the largest legal partnership in Australia according to the Australian Financial Review's partnership survey (26 June 2015).

The firm comprises 988 staff including: 195 Partners, 475 other legal staff and 318 support staff across offices in nine locations – Adelaide, Alice Springs, Brisbane, Canberra, Darwin, Melbourne, Norwest (North West Sydney), Perth and Sydney.

HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.

HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.

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