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Glennon Small Companies Limited

Fund Manager: Glennon Capital
Inception Date: Aug 01, 2015

Twenty years ago, Michael Glennon was put in charge of a struggling listed investment company that was trading for just three-quarters of what it was worth. The experience was "the bane of my life" but also seeded a passion for LICs that he lives and breathes today. Glennon runs Glennon Capital which is the investment manager for the $44 million ASX-listed Glennon Small Companies Limited. "I have watched this LIC space for a long time, there's a lot of people that come to the market doing LICs now because they're popular but I've always liked them because I ran one," he says referring to Pacific Strategic Investments, which Geoff Wilson's Wilson Asset Management once owned a stake in, and Washington H. Soul Pattinson eventually acquired. [More]

Stockbrokers Morgan and Taylor Collison are seeking buyers for about $15 million worth of options in ASX-listed investment company, Glennon Small Companies Ltd. The fund is expected to go into a trading halt on Tuesday morning to allow the brokers to place the options.  The options are exercisable at $1 each and were issued to investors in Glennon's initial public offering last year.  Glennon shares last traded at $1.03 and had net tangible asset-backing worth $1.13 as at August 3, when the manager last published its numbers.  [More]

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