Latest news with #Nasdaq-100®
Scoop
4 days ago
- Business
- Scoop
InvestNow Launches Foundation Series Nasdaq-100 Fund Catered To Kiwi Investors
Press Release – InvestNow The new fund charges a management fee of just 0.15% per annum, a 0.50% transaction fee on all buy orders (entry fee) and 0.50% on all sell orders (exit fee). InvestNow has announced the launch of the Foundation Series Nasdaq-100 Fund, which offers exposure to the Nasdaq-100 Index® through a Portfolio Investment Entity (PIE) fund structure, with market-leading low fees and added tax advantages. The new fund charges a management fee of just 0.15% per annum, a 0.50% transaction fee on all buy orders (entry fee) and 0.50% on all sell orders (exit fee). It is the tenth offering in InvestNow's low-cost Foundation Series Funds range, and the first time that New Zealand investors can get exposure to the Nasdaq-100® within a PIE fund. 'The Nasdaq-100® is one of the world's preeminent large-cap growth indexes, and by capturing exposure through a low-cost, tax-efficient PIE fund, it can help reduce expenses and therefore enhance returns for Kiwi investors,' says InvestNow Senior Portfolio Manager Jason Choy. 'Direct investors into other funds that track the Nasdaq-100® face a marginal tax rate of up to 39%. Through a PIE fund however, investors' tax rate is capped at just 28%, which can help sidestep an up to 40% higher tax bill in real terms. The advantages are considerable, and I wouldn't be surprised if this ends up being one of the most popular funds we offer.' The Foundation Series Nasdaq-100 Fund offers exposure to the 100 largest non-financial companies listed on the Nasdaq Stock Market, which includes tech heavyweights such as Apple, Tesla, NVIDIA and Microsoft. 'These are some of the world's largest and fastest growing companies. I'm thrilled we can offer investors exposure to the Nasdaq-100® in such a novel way; that we can partner with such global investment giants underlines our expertise and our product offering,' Choy adds. InvestNow started its low-cost Foundation Series Funds range in 2020, which have an average management fee of just 0.16% per annum. Currently the Foundation Series Funds have around $500m in funds under management.
Scoop
4 days ago
- Business
- Scoop
InvestNow Launches Foundation Series Nasdaq-100 Fund Catered To Kiwi Investors
InvestNow has announced the launch of the Foundation Series Nasdaq-100 Fund, which offers exposure to the Nasdaq-100 Index® through a Portfolio Investment Entity (PIE) fund structure, with market-leading low fees and added tax advantages. The new fund charges a management fee of just 0.15% per annum, a 0.50% transaction fee on all buy orders (entry fee) and 0.50% on all sell orders (exit fee). It is the tenth offering in InvestNow's low-cost Foundation Series Funds range, and the first time that New Zealand investors can get exposure to the Nasdaq-100® within a PIE fund. 'The Nasdaq-100® is one of the world's preeminent large-cap growth indexes, and by capturing exposure through a low-cost, tax-efficient PIE fund, it can help reduce expenses and therefore enhance returns for Kiwi investors,' says InvestNow Senior Portfolio Manager Jason Choy. 'Direct investors into other funds that track the Nasdaq-100® face a marginal tax rate of up to 39%. Through a PIE fund however, investors' tax rate is capped at just 28%, which can help sidestep an up to 40% higher tax bill in real terms. The advantages are considerable, and I wouldn't be surprised if this ends up being one of the most popular funds we offer.' The Foundation Series Nasdaq-100 Fund offers exposure to the 100 largest non-financial companies listed on the Nasdaq Stock Market, which includes tech heavyweights such as Apple, Tesla, NVIDIA and Microsoft. 'These are some of the world's largest and fastest growing companies. I'm thrilled we can offer investors exposure to the Nasdaq-100® in such a novel way; that we can partner with such global investment giants underlines our expertise and our product offering,' Choy adds. InvestNow started its low-cost Foundation Series Funds range in 2020, which have an average management fee of just 0.16% per annum. Currently the Foundation Series Funds have around $500m in funds under management.
Yahoo
30-01-2025
- Business
- Yahoo
Cache Surpasses $300 Million AUM Milestone With Strong 2024 Performance and Investor Adoption
Specialized brokerage offers innovative, tax-efficient diversification solutions for managing large, concentrated holdings SAN FRANCISCO, January 30, 2025--(BUSINESS WIRE)--Cache, a pioneering fintech company that offers specialized products for managing large, concentrated stock positions for individuals and their advisors, today announced that it has crossed $300 million in assets under management (AUM). Reached within just ten months of their launch, the milestone reflects Cache's rapid growth and commitment to democratizing access to advanced financial instruments, starting with its modern exchange funds. Launched in March 2024, Cache Exchange Funds have gained significant traction by broadening access, lowering fees and minimums, and providing faster, more efficient diversification. "Crossing the $300 million threshold* in short order reaffirms that our solution addresses a real challenge for many people," said Srikanth Narayan, founder and CEO of Cache. "For investors with large concentrations of a single stock, the traditional options were limited: hold and bear too much risk, or sell and face significant taxes. Cache Exchange Funds have enabled an efficient approach to stock diversification, making advanced strategies more accessible to a wider audience." Cache's modern exchange funds were created to tackle the challenges of equity concentration by enabling investors to diversify their holdings without triggering immediate capital gains taxes. Traditionally, exchange funds were reserved for the ultra-wealthy, requiring significant minimums and high fees. Cache has reimagined this antiquated model with lower minimums, competitive fees, and a direct-to-consumer approach, which has attracted a diverse client base that includes early-career professionals, C-suite executives, and family offices. "We are committed to leveling the playing field and providing more investors and advisors with access to these powerful financial tools," added Narayan. "Our approach combines rigorous portfolio construction using quantitative and qualitative overlays and balancing the supply of stocks investors are looking to diversify. Since launch, we've delivered our clients strong performance, meaningful tax savings, and reduced concentration risk." As of the end of 2024, Cache Exchange Funds had reached over $300 million in gross assets, allowing investors to defer more than $200 million in capital gains. Some key performance highlights from 2024 include: All three Cache Exchange Funds, which are benchmarked to the Nasdaq-100® Index, delivered noteworthy outperformance relative to the benchmark, exceeding it anywhere from 7.9% to 10.7%, as these portfolios held more of the top 25 performers and less of the bottom 25 performers in the index. Cache Exchange Funds maintained a realized tracking error of 3.7%-3.8% against the Nasdaq-100®, indicative of disciplined execution and a deep focus on risk management. Cache Exchange Funds outperformed the Nasdaq-100® in absolute returns and risk-adjusted performance, as demonstrated by higher Sharpe ratios. For example, Cache Exchange Fund I, LLC (the oldest exchange fund recorded a Sharpe ratio of 1.38 relative to 1.03 for the Nasdaq-100®. (higher is better) All performance figures are net of fees from inception to December 31st, 2024. More information is included on our website at this link. Cache's growth is underpinned by a world-class team with deep expertise across technology, finance, compliance, and operations. Founder and CEO Srikanth Narayan brings product and engineering experience from Uber and Waymo, while Head of Investments Christopher Lange leverages leadership roles at Goldman Sachs and DGV Solutions LP. Additional team members hail from organizations like Wealthfront, Amazon, Principal, Meta, and Robinhood, bringing together industry expertise and technical innovation to support Cache's expanding client base. As equity compensation continues to play a prominent role in total rewards packages, particularly in high-growth sectors like technology, biotechnology, and finance, the demand for innovative solutions to manage concentrated stock positions is only increasing. Cache is dedicated to expanding access to these tools, helping more individuals optimize their financial outcomes. For more information, please visit About Cache Founded in January 2022, Cache is on a mission to help investors make the most of their large stock positions. Cache spent over two years in stealth mode, building the technical and financial infrastructure necessary for its modern exchange funds. The firm operates as both a broker-dealer and an investment advisor, with all necessary regulatory registrations secured. Cache Securities LLC, an SEC-Registered Broker-Dealer and Member of FINRA and SIPC, distributes Cache's products. Cache Advisors LLC, an SEC Registered Investment Advisor, is the advisor to the Cache Exchange Funds. Disclosures: *300 Million in Assets refers to Gross Assets under management as of January 24th, 2025. This communication is not an offer or solicitation of securities and is intended to inform only. Any product discussed within should only be purchased after the client reviews the offering documents and executes a subscription agreement. Cache does not make investment recommendations or assist in determining suitability; investors are responsible for ensuring that products are appropriate for their specific situation. The Cache Exchange Funds are alternative investments. Exchange funds are appropriate only for eligible, long-term investors who are willing to forego liquidity and put capital at risk for substantial periods of time. Regulations require certain eligibility criteria for participation. For more information on the difference between accredited investors and qualified investors, please view this article. Cache has offered three Exchange Funds: Cache Exchange Fund, I LLC (incepted March 8, 2024), Cache Exchange Fund GNU, LLC (incepted June 30, 2024), and Cache Exchange Fund, UNIX, LLC. (incepted August 30, 2024). Cache Exchange Fund I, LLC, and Cache Exchange Fund GNU are accredited investor funds, while Cache Exchange Fund UNIX is open to qualified purchasers only. Please visit our legal disclosure library for additional terms and conditions. Other important disclosures about the product are available here. View source version on Contacts Media Contacts: StreetCred PRcache@ Rob Farmer415-377-3293rob@ Stoyan Bojinov224-622-6637stoyan@ Sign in to access your portfolio
