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This is a guest post from Steve Green. Steve is a full-time investor with a focus on LICs, event-driven and activist investing. You can follow some of his ideas at his investment blog at Author’s note: In compiling this article I have used data as at 25th April, 2018. Recently I was checking out Morphic Ethical Equities Fund (MEC) and observed how fickle the premium / discount to NTA can behave. It is almost one year since listing and this type of pat ... [More]

Contango Asset Management will pursue growth in the retail and self-managed supermarkets as part of a restructure that saw the fund manager part with George Boubouras, its former managing director, last week. Marty Switzer, Contango's interim boss, said on Monday: "I think this change is all about repositioning the business to focus on the areas where we see the most growth potential in the listed investment space," specifying that "an area where we believe we've got a lot of strength is SMSF and retail". Chairman Roger Amos advised the market of the departure of Mr Boubouras on Friday. Mr Switzer is a Contango director as well as serving on the board of Switzer Asset Management, a business that is co-owned by Contango and the Switzer Financial Group. Switzer Asset Management is already planning to add an active fixed income product for retail investors. [More]

The LIC IPOs keep on coming. This time it is Contango Asset Management, ASX listed manager of Contango MicroCap (CTN) and Contango Income Generator (CIE), as well as a number of wholesale funds. Contango are aiming to raise up to $330m for their new Global Growth LIC (CQG), with the offer closing on 8 June 2017. We take a look below at the interesting structure employed by Contango for this LIC, with the investment management decisions outsourced to US based fund management WCM Investment Manage ... [More]

A prospectus for listed investment company Contango Global Growth has hit investor's desks after lodgement with the corporate regulator. The offer documents outline a minimum raise of $55 million with the ability to raise up to $220 million, inclusive of oversubscriptions of as much as $110 million. James Packer-backed Contango has partnered with Laguna Beach California-based WCM Investment Management for the new LIC.  The firm managed about $21.2 billion as at March 31.  [More]

James Packer-backed Contango Asset Management has its ducks in a row as it forges ahead with a new listed investment company focussing on global stocks.  Street Talk can reveal that Morgan Stanley, Bell Potter, Taylor Collison, Morgans and Commsec will line up as joint lead managers for Contango Global Growth. K&L Gates is the legal adviser. The pre-marketing roadshow was in full swing last week and investor sources expect the LIC to officially launch in April or May with a raising of several hundred million dollars.   [More]

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