Switzer Asset Management is ramping up plans for a listed dividend growth fund, sources told Street Talk.
James Packer-backed Contango Asset Management will manage the Exchange Traded Managed Fund Product (ETP) and the offer period is said to open on January 30, 2017.
The active ETP market in Australia was thrown into the spotlight by listed manager Magellan Financial Group in 2015.
Street Talk understands high-profile broker Charlie Aitken will be an independent committee member for the new Switzer large cap fund.
It will be an open-ended raising and pitched at investors seeking consistent dividends and capital growth. Sources said the fund would be the first in the local market to pay quarterly dividends.
Switzer Asset Management, previously known as Halidon Asset Management, is jointly owned by Contango and Switzer Financial Group.
Financial commentator Peter Switzer is chairman of the group and Paul Rickard, the founding managing director of CommSec, is a non-executive director.
The new fund will be the third listed product to be managed by Contango, adding to Contango MicroCap Limited and Contango Income Generator .
