BetaShares exec lands at Aura Group

Aura Group has recruited a former BlackRock and BetaShares executive as distribution director to drive growth in the institutional and high-net-worth segments.

Dan Annan's background includes leadership roles at Cosmos Asset Management.

Specifically, he launched Australia's first cryptocurrency exchange-traded funds at Cosmos Asset Management.

For Cosmos, the ongoing costs became unsustainable, leading to closure.

"It wasn't that the ETFs were ahead of their time, but rather a matter of market timing and the challenges of managing ETFs in a risk-off environment amid crypto market turmoil," he stated.

Annan added that many fund managers closed ETFs due to difficulties gathering FuM and the high operational costs associated with that.

"However, we laid the groundwork for others to launch crypto ETFs, providing investors with traditional custodial safeguards for their cryptocurrency investments, I believe the market cap is now around $200mm, which is relatively decent."

Annan said Aura will explore investment opportunities in this sector.

"For example, BetterX, a platform Aura has backed, aims to combine TradFi stability with Web3 technology to offer a turnkey solution for access and real-world asset tokenisation," he said.

"Innovation in the cryptocurrency segment is boundless, as will be the investment opportunity.

Annan can also lay claim to setting the groundwork for the institutional adoption of BetaShares' ETFs business.

In 2018, he was appointed to the newly created role of director of institutional business at the ETF provider.

He joined from BlackRock Investments, where he worked in various roles across the business in the US, including iShares Private Wealth Management, Capital Markets, the fixed-income ETF team, and, most recently, driving the iShares institutional sales effort in Australia and New Zealand.

Aura said Annan's deep experience in global funds management and distribution together with his deep understanding of capital markets, will be crucial in driving the company's growth strategy.

The firm also said his strategic leadership and innovative approach have been instrumental in establishing distribution partnerships and exploring niche exposures.
"Dan's expertise in institutional and retail asset management, combined with his strategic vision, makes him an invaluable addition to our team," said Aura Group managing director Calvin Ng.

"We are confident his leadership will propel our distribution efforts to new heights."

After his time at Cosmos, Annan spent two years working with wholesale advisors, family offices, and UHNW individuals in the alternatives sector.

"What drew me to Aura was its comprehensive, one-stop-shop offering a diverse range of solutions including venture capital, private equity, private debt, and a downside-capture focused multi-asset fund that I could confidently present to clients/prospects," he said.

"The final piece fell into place when a senior colleague and mentor, whose opinion I deeply value, endorsed the team. He said, "Working with Calvin and Eric? I'd take their call any day. DO IT!" With that endorsement, the decision was clear."

Annan will be based in Sydney but focus on the Asia Pacific.

Founded in Australia in 2009, the head office is in Singapore, with a growing footprint across Asia Pacific.

Aura is owned by staff and several strategic investors across Asia Pacific.