The news: Savana Asset Management has appointed the former CEO of Global X ETFs Australia Evan Metcalf as its executive director. The fund also recently launched a new capital raising round.

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The context: Metcalf left Global X ETFs Australia in October 2024 after more than two years. He had also spent nearly five and a half years at ETF Securities Australia before it was acquired by Mirae Asset Global Investments and renamed Global X in 2022.

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Metcalf joins the investment manager – which uses a proprietary tech platform with “cutting edge algorithmic design” to construct its portfolios – almost a year after Savana listed on the ASX.

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Savana’s flagship ETF, the Savana US small caps active ETF was launched in November 2024. Since listing, the fund has performed 10% better than its investment benchmark.

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The firm also has one unlisted fund and has a long-term plan to build more than 20 global ETFs.

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Savana recently launched a new capital raising round to speed up the rollout of ETFs and expand funds under management.

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The fund has already received follow-on investment from early backers venture capital firm Centerstone Capital and family office Riverbend Investments, which will make up between 20-25% of the total capital raise target. In total, they have invested $5 million to date.

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The new funding round expects to give 15-20% equity in the company.

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What they said: “Evan’s signing is a huge statement of intent. His experience building Global X into a leading ETF issuer will be invaluable as Savana scales from proven technology into global distribution,” Savana founder and director John Atkinson said