Wednesday, 3 December 2025: First Sentier Investors, an active, specialist investment manager, has today announced the listing of its second Exchange Traded Fund (ETF) on the Australian Securities Exchange, the First Sentier ex-20 Australian Share Fund Active ETF (ASX: XX20). Trading commences at 10am AEDT today.
XX20 provides Australian advisers and investors an additional way to access the First Sentier ex-20 Australian Share strategy, which aims to deliver higher long-term capital growth by investing in high-quality, small to medium sized companies within the ASX 300, but outside of the ASX 20. These companies are characterised by strong balance sheets, consistent earnings growth, and improving returns on invested capital – built to compound over time.
Commenting on XX20, Head of Australian Equities Growth at First Sentier Investors and Portfolio Manager, Dushko Bajic said: “XX20 offers access to a dynamic segment of the Australian market and an actively managed portfolio of companies with solid financial foundations and scalable models.
“XX20’s differentiated approach looks beyond the ASX 20 heavyweights such as financials and resources by providing exposure to companies of varying sizes and at different stages in their growth journey. From emerging contenders to established leaders, this segment of the market presents a compelling growth opportunity for investors, with companies we believe are poised to benefit from structural trends, innovation, and expanding market share.”
One such example in XX20’s top holdings is Pro Medicus, a leading radiology software provider that has captured material share of the top-tier US hospital market by offering a best-in-class product. However, with only ~10% penetration in the North American market and increasing adoption in key areas like cardiology and AI, Pro Medicus remains in the early stages of capturing a large addressable market.
Mr Bajic said, “As the demand for ETFs continues to increase, we’re pleased to expand access to First Sentier Investors’ capabilities and investment expertise via the ASX and offer investors and their advisers flexibility and choice to efficiently manage their portfolios.”
First Sentier Investors’ Australian Equities Growth team is one of Australia’s largest and longest-running share managers and has been actively managing the First Sentier ex-20 Australian Share Fund since its inception in 2019, growing funds under management to AU$113 million as at 31 October 2025. XX20 is First Sentier Investors’ second ETF and follows the launch of LEVR (First Sentier Geared Australian Share Fund Complex ETF) in May 2025.
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The product disclosure statement (PDS) or Information Memorandum (IM) (as applicable) for the First Sentier ex-20 Australian Share Fund Active ETF, ARSN 634 637 620 (Fund), issued by The Trust Company (RE Services) Limited (ABN 45 003 278 831, AFSL 235150) (Perpetual), should be considered before deciding whether to acquire or hold units in the Fund(s). The PDS or IM are available from First Sentier Investors. The target market determination (TMD) for the Fund is available from First Sentier Investors on its website and should be considered by prospective investors before any investment decision to ensure that investors form part of the target market.
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