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Clime Capital Limited

Fund Manager: Clime
Inception Date: Feb 01, 2004

Clime acquires equities boutique for $3.6m

Financial Standard - Jul 17, 2017

Clime Investment Management will push its gross assets under management past $700 million with the acquisition of a Sydney-based Australian equities boutique. Clime will purchase CBG Asset Management, which has $130 million in assets across three mandates including a listed investment company, for $3.6 million. This comprises $3.2 million on completion of the acquisition, plus $375,000 12 months from that date, assuming funds under management retention and certain other conditions. Consideration represents 6.5 million Clime shares at 50c per share and a further 750,000 shares on 30 June 2018, subject to the above requirements. CBG principal Ronni Chalmers will also join Clime's management team. Chalmers said: "The combined funds team will offer a deeper and broader research capability. The extended product list will be of immense interest to CBG clients." [More]

As an alternative dividend source to the banks and property trusts, the burgeoning listed investment company sector should be on the shopping list of any self-respecting, self-funded retiree. An LIC is a basket of stocks chosen by a manager and then listed as an investment vehicle on the sharemarket. Critics of LICs contend that investors are merely incurring a management fee to invest in the usual blue-chip suspects: for example, despite recently broadening its investments into selected mid-caps, the banks still account for 25 per cent of the portfolio of the biggest LIC in the local market, the Australian Foundation Investment Company. [More]

It’s official, the Australian Share Market has gone nowhere in the last 10 years. Referred to by some as Australia’s Lost Decade, the ASX 200 index closed at 5,310 on May 1 2006, and almost the same level of 5,252 on April 29 2016. What’s been missed in this comparison however is the impact of dividends on returns. Performance of shares including Exchange Traded Funds (ETFs) and Listed Investment Companies (LICs) is generally reported on their share price movements over time ... [More]

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