Savana US Small Caps Active ETF Sees Net Redemption of 7,840 Units in June 2026 with NAV at $1.83 AUD

Understanding SVN’s June 2026 Unit Issuance, Redemption, and Net Flow

In compliance with ASX AQUA Rule 10A.4.2(b), 10A.4.2(cd), and ASX Operating Rules Procedure S10A.4.2, the Savana US Small Caps Active ETF disclosed its monthly unit flow data for June 2026. These regulatory disclosures provide transparency on unit creation and redemption activity, helping investors track capital movements within the fund.

During June 2026, the fund issued 33,152 units and redeemed 40,992 units, resulting in a net decrease of 7,840 units. This data is crucial for investors and market participants to evaluate capital inflows and outflows, reflecting the activity of authorised participants and investor demand for the ETF.

Net Asset Value of $1.83 AUD per Unit Highlights Underlying US Small-Cap Exposure

The fund’s NAV per unit stood at $1.83 AUD at the end of June 2026. NAV per unit is a vital indicator representing the value of the fund’s underlying portfolio divided by total units on issue. For this actively managed US small-cap equity fund, NAV fluctuates based on portfolio performance, currency exchange rates between the US and Australian dollars, and any distributions during the period.

No detailed breakdown of portfolio composition, performance attribution, or currency hedging was provided in this monthly update. Investors interested in the fund’s investment strategy or holdings should consult the product disclosure statement or other periodic reports issued by K2 Asset Management Ltd.

Fund Size Totals 3,302,212 Units After June 2026 Redemptions

At June 2026’s end, the Savana US Small Caps Active ETF had 3,302,212 units on issue. This figure reflects the total units held by investors after accounting for all creations and redemptions during the month. The net reduction of 7,840 units is relatively small compared to the total units outstanding, indicating overall fund size stability during the period.

The update did not disclose May 2026’s units on issue; however, based on the net change, it can be inferred that approximately 3,310,052 units were outstanding at May’s close before the June net redemption reduced the total to 3,302,212 units.

Net Value Outflow of $14,331 AUD as Redemptions Surpass Issuances in June

Units issued in June 2026 were valued at $58,787 AUD, while units redeemed were worth $73,118 AUD, resulting in a net outflow of $14,331 AUD. These values exclude transaction costs and provide a consistent basis for comparing inflows and outflows.

Given the fund’s total units on issue, this net outflow represents a minor portion of the overall assets under management. At the disclosed NAV of $1.83 per unit, the fund’s approximate total assets under management at month-end are around $6.04 million AUD, although no explicit total AUM figure was provided. This calculation is an estimate derived solely from the disclosed data.

K2 Asset Management’s Responsibilities as Responsible Entity for SVN

This monthly report was signed by Hollie Wight on behalf of K2 Asset Management Ltd, the responsible entity for the Savana US Small Caps Active ETF. K2 Asset Management Ltd is legally obligated to manage the fund according to its constitution and the Corporations Act, ensuring timely regulatory disclosures such as this monthly flow report.

K2 Asset Management Ltd is a well-established Australian funds management business. The Savana US Small Caps Active ETF is actively managed, meaning the portfolio does not simply track an index but relies on the manager’s investment decisions to select and weight US small-cap stocks. Performance depends on stock selection and portfolio construction rather than passive replication.

ASX AQUA Rules Mandate Monthly Reporting for SVN

The disclosure complies with ASX AQUA Rule 10A.4.2(b), 10A.4.2(cd), and ASX Operating Rules Procedure S10A.4.2. These rules apply to managed funds, ETFs, and structured products listed on the ASX under the AQUA platform, requiring responsible entities to report monthly unit creation and redemption data to maintain market transparency.

Such monthly disclosures allow investors to monitor capital movements frequently, unlike traditional listed companies that report earnings semi-annually or annually. This frequent reporting offers market participants timely insights into the fund’s unit economics.

Investment Theme: Exposure to US Small-Cap Equities

The Savana US Small Caps Active ETF offers Australian investors actively managed access to the US small-cap equity sector. US small-cap stocks, generally defined as companies with market capitalisations below large-cap peers, have historically exhibited unique risk-return profiles, including potentially higher long-term growth but also increased volatility and sensitivity to US economic conditions.

This update did not provide details on the fund’s benchmark, individual holdings, sector allocations, or performance for June 2026. Investors seeking comparative performance data should refer to separate fund reports or the product disclosure statement. The immediate impact on the share price was not evident from public information.

Monitoring Monthly Flow Trends in Future SVN Reports

The June 2026 figures represent a single month’s data. Investors are encouraged to track these monthly disclosures over time to identify trends in unit flows. Persistent net redemptions could signal waning investor interest, while renewed net issuance might indicate growing demand or positive fund performance attracting capital.

The upcoming July 2026 monthly flow report will be a key indicator of whether the June net redemption trend continues or reverses. Changes in NAV per unit in future months will also be important, reflecting the fund manager's effectiveness in navigating US small-cap markets, which are influenced by interest rate expectations, US economic data, and global risk sentiment.

K2 Asset Management Demonstrates Regulatory Compliance and Transparency

This update, filed on 2 July 2026 and covering June 2026, confirms K2 Asset Management Ltd’s adherence to ASX AQUA regulatory disclosure requirements. Consistent, timely compliance is a fundamental expectation for responsible entities managing listed investment products and is closely monitored by the exchange.

Investors in the Savana US Small Caps Active ETF can use these monthly disclosures as part of their broader evaluation of the fund’s operational status and market reception. While a single month’s net outflow of 7,840 units is not necessarily concerning given the fund’s size, ongoing monitoring of unit flows alongside NAV performance will provide a clearer picture of the fund’s trajectory and market sentiment toward its active US small-cap strategy.