The QV Equities LIC was launched last month with the aim of providing SMSFs, high net individuals and other investors with a diversified portfolio of companies outside the top 20 stocks in the ASX 300.
QV Equities chairman Don Stammer said the company was pleased to have raised such a significant amount from Australian investors.
“Going forward, we are all focused on working hard to ensure that our shareholders enjoy the medium- to longer-term benefits that a quality portfolio of ex 20 stocks will provide,” he said.
Investors Mutual founder and investment director Anton Tagliaferro said there are many companies in the ex 20 sector of the market with a “strong competitive advantage, recurring and predictable earnings streams and management teams that will provide sound long-term investments”.
“We believe the recent volatility in the share market as a result of geopolitical uncertainties as well as speculation as to when the US Fed may raise interest rates may provide some good opportunities for us to invest the money wisely in the next few months,” said Mr Tagliaferro.
He also thanked CBA equities and Syndicate for providing professional advice throughout the capital raising process.
