Active ETF Cboe, Active ETF versus Mutual Fund

Since November 2021, investors have been able to invest in the Talaria Global Equity Fund via Cboe Australia (TLRA). Cboe is a leading platform in active ETFs. TLRA is the ticker code for investors wishing to invest in units of the Talaria Global Equity Fund. 

An active ETF means an investment manager (Talaria) is actively managing a portfolio of securities, whereas Passive ETFs typically track an index (such as the S&P 500 index) and the portfolio is updated (usually quarterly) to reflect changes in the index it is referring to.  

Compared to a mutual fund which also aims to outperform its market or the relevant benchmark, active ETFs are typically lower cost, more tax efficient, more transparent and can be traded on multiple platforms.  

The Talaria Global Equity Fund (Managed Fund) active ETF is listed in Australia and manages global stocks that are large capitalisation and listed in developed markets. The Fund is accessible via your share trading platform, stockbroker or financial advisor. 

TLRA units should generally trade on Cboe close to the prevailing Net Asset Value during the Cboe trading day (subject to the market bid/offer spread).