ASX Small Cap Lunch Wrap: Who’s up for a new ETF today?

2021 has given us an ASX crypto ETF, a semiconductor ETF and soon a private equity ETF will be added to the list.

This morning one of the Australian bourse’s major ETF providers VanEck announced it was launching the Global Listed Private Equity ETF (ASX:GPEQ).

Van Eck says, similar to the crypto and semiconductor ETFs, it is the first time Australian investors will had such direct access to this asset class, which accounts for 98% of the world’s companies (the other 2% being listed).

“Private equity offers investors long-term historical outperformance over public markets, yet traditionally it has only been accessible by institutional and ultra high net worth investors,” said Van Eck Asia-Pacific CEO Arian Neiron.

“GPEQ changes that and allows all investors to participate in private equity investments for the first time through a single trade on the ASX.

“As an alternative investment, private equity is important for investor’s portfolios as it displays a low correlation with equities and bonds as well as offering attractive risk and return characteristics.”

The VanEck Global Listed Private Equity ETF (GPEQ) will track the LPX50 Index which represents the global performance of the 50 most highly capitalised and liquid listed direct, indirect and private equity managers.

Some of these include 3i Group, Ares Capital, Onex Corp and Main Street Capital.

LPX50 Index chart

On local markets, the ASX has retreated slightly this morning down 0.12% to 7,444 points as at 11.45am (AEDT).

The resources sector is higher, but bank stocks are down. So far this week, the ASX has struggled to follow the lead from Wall Street, which continues to hit new record highs.

Meanwhile, the gold price continues to hold its gains after pushing above US$1,800/oz at the end of last week.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 9 [intraday]:

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Chalice (ASX:CHN) rose after unveiling its Maiden Mineral Resource for Julimar.

The company confirmed it was largest nickel sulphide discovery globally in at least 20 years, and the largest PGE discovery in Australian history.

Pearl Gull Iron (ASX:PG1) rose after drilling results

Douugh (ASX:DOU) updated shareholders on its customer numbers in the US.

And biotech Pharmaxis (ASX:PXS) got won FDA approval of its Investigational New Drug application to trial its PXS-5505 drug against liver cancer.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for November 9 [intraday]:

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After posting big gains last week in connection with news from its ‘Mt Cannindah’ copper-gold-silver project, Cannindah (ASX:CAE) plunged this morning after its latest exploration update.

Gale Pacific (ASX:GAP) fell after a trading update in which it reported it had been hit by cost inflation greater than it had previously anticipated.