Today, he’s CEO and co-founder of ETF Shares—an innovative startup nurtured at the Macquarie University Incubator and poised to shake up Australia’s financial services industry.
“That early experience of watching a lean team with limited resources build a platform to compete with giants like Google and Microsoft gave me a deep appreciation for how innovation and bold thinking can bring a business to life,” says Man.
“Although my career shifted toward finance, I’ve always had the ambition to be an entrepreneur.”
In a highly successful career as a portfolio manager, Man worked extensively in the rapidly growing ETF (Exchange Traded Funds) market, rising to Head of Portfolio Management and second-in-command at Global X ETFs. He and Global X colleague David Tuckwell—fellow co-founder and CIO of ETF Shares—saw an opportunity to disrupt the tightly held Australian market and drive competition for the benefit of consumers and their advisers.
Man’s decision to study law at Macquarie was pivotal in shaping that vision into a viable company.
“Pursuing a law degree has given me the confidence and capability to navigate areas of critical importance in launching a business in the highly regulated financial sector. Understanding our legal and compliance obligations from the outset has been invaluable,” he says.
“Macquarie’s strong emphasis on entrepreneurship and innovation was a key factor in my decision to study there. During my studies, I became aware of the Macquarie University Incubator program. We quickly recognised its potential to help us navigate many of the challenges we anticipated in launching our business.”
Macquarie student Cliff Man has leveraged the University's Incubator program to launch fintech startup ETF Shares.
The Macquarie University Incubator was established in 2017 to nurture a collaborative and supportive environment for innovators at all stages. It offers free programs exclusively for Macquarie students, researchers and staff. More than 166 startup and scaleup ventures have benefited from the award-winning Incubator's educational programs, mentorship, investor networks and vibrant community.
The program proved instrumental in fast-tracking the trajectory of EFT Shares. Taking full advantage of its resources and networks, Man and Tuckwell brought the company from concept to launch within six months, securing ASIC licensing in less than half the usual time.
“The Incubator is an ideal environment to start up a business. It offers practical education, expert guidance, and a collaborative startup community that helps bridge the gap between concept and execution,” Man says.
“We could access experts across a range of areas and focus on creating, building and testing ideas without big upfront costs during the bootstrapping phase. Our affiliation with the Incubator also connected us to resources outside Macquarie, including free credits from technology giants to build out our technology stack.”
ETF Shares launched three first-of-a-kind index ETF products on Cboe Australia in May. Backed by ETF industry pioneer Graham Tuckwell, the company is the first new entrant into the Australian market in 10 years, attracting instant attention from global media, advisers and investors.
Though it’s early days, Man is confident the company’s future—and what it will deliver for investors—is bright.
“Our unique investment strategies offer consumers a new and better way to invest,” he says. “We’re bringing competition to the market, delivering greater choice and transparency and lowering costs. And that can only be good news for investors.”
For more information or to register your interest, visit etfshares.com.au.
