POHL'S VENTURE LISTS AT PREMIUM

POHL'S VENTURE LISTS AT PREMIUM
MANNY Pohl’s Barrack Street Investments Limited (ASX: BST) listed on the Australian Securities Exchange at a 5 per cent premium after raising $16 million through an initial public offer.

Barrack St is a listed investment company managed by Gold Coast-based equities manager ECP Asset Management (ECPAM).

The lightly traded shares, issued at $1 each, opened at $1.05 where they remained for the rest of their debut session.

The company was created to invest in small-cap stocks outside the ASX 50, where Pohl says growth opportunity lies.

“Today is landmark day for our company and we hope that this successful listing will benefit investors,” Pohl says.

Barrack Street targets small super funds with fewer than five members and aims to achieve medium to long-term capital growth and income through fully franked dividends.

Its objective is to achieve annual returns above 8 per cent.

Pohl, who co-founded Hyperion Asset Management, has delivered strong returns from the small and mid-cap sector over the past 30 years.

Since leaving Hyperion and starting his own boutique firm, Pohl has delivered a return of 21 per cent through ECPAM from its inception in July 2013 to June this year.

This compares with the ASX Small Ordinaries Accumulation Index which has returned just 3 per cent.


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