Dawn Global is dedicated to active thematic ETF investing in the next generation of emerging and frontier growth markets – investing today in the economies of tomorrow. Dawn Global offers institutional investors, multifamily offices, investment and financial advisors long-term geographic and growth diversification accessed via public markets. Dawn Global aspires to make public markets investing in emerging and frontier growth markets accessible, affordable, efficient, scalable, and content-driven.
Dawn Global’s investment universe focuses on public companies that are leaders, enablers, and beneficiaries of emerging and frontier market growth trends. Dawn Global researches for compelling secular growth trends in emerging and frontier growth markets that historically have been largely inaccessible to foreign investors. Dawn Global is re-inventing the conventional approach to emerging markets equities investing by positioning CUBS ETF as an actively managed, content driven, thematically designed, regionally diversified ETF.
Dawn Investment Process
Dawn Global believes active investment management is required to identify the most compelling growth companies in less covered markets as well as to mitigate company and governance risk. The investment process, conducted through its sub investment advisor, involves top-down company screening and bottom-up company analysis to identify the most compelling investment opportunities. The investment process is complemented with a portfolio management framework involving a quarterly investment review and semi-annual portfolio rebalancing. At such a rebalancing, all securities are equally weighted to mitigate single country and single company risk. The strategy does not track or identify with any index.
This stage involves a 5-step top-down quantitative company screening process extending over 10-years. This screen is intended to exclude companies based on quantifiable criteria
This stage involves a 3-step bottom-up qualitative company analysis focused on downside risk mitigation through a qualitative assessment covering areas including reporting, valuation and governance
This stage is designed to implement the security selection process outcome with a risk and control focus. This framework governs the portfolio review process, portfolio construction, portfolio rebalancing, and concentration limits
We believe that Environmental, Social and Governance (ESG) criteria serve as a critical risk mitigant in emerging and frontier markets. ESG disclosure is believed to be a first step in raising ESG compliance and therefore the investment process prioritizes governance, audit quality, and reporting standards. The ESG framework utilised by the investment manager is initially based on ESG exclusion criteria in the absence of sufficient reliable ESG ratings coverage of the investment universe. Over time an ESG inclusion approach will be developed and adopted.
Founder & CIO
Maurits started his career at Goldman Sachs in Mergers & Acquisitions and since 2016 has been a public and private equity investment partner at Kingsway Capital, a frontier markets specialist with over $2bn AUM. He has a Bachelor’s Degree in Economics from Middlebury College.
Asfandyar is the Founder and Chief Investment Officer of Deem Global LLC, and previously was the Head of Global Macro Special Opportunities and a Portfolio Manager at Brevan Howard Asset Management. He graduated Magna Cum Laude from Harvard University and was a ‘King’s Scholar’ and ‘Captain of the School’ at Eton College.
Exchange Traded Concepts
Exchange Traded Concepts is the investment advisor to the CUBS ETF and the issuer of the ETF Trust. ETC is responsible for all CUBS ETF investment management, operating, liquidity, compliance & risk management included ETF redemption/creation and FX exposure management. ETC is the largest fully integrated private-label ETF issuer globally, having issued over 33 ETFs since inception across markets and asset classes.
Kingsway Capital Partners Limited (KCPL)
Kingsway Capital Partners Limited is the investment sub-advisor to the Cubs ETF. Dawn Global Management Limited is an appointed representative of KCPL. KCPL is a leading emerging and frontier markets specialist with assets under management of more than $2 billion. KCPL is authorised and regulated by the FCA and is an SEC registered investment adviser active in public and private equity investing across emerging and frontier markets.