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Henry Morgan Limited

Fund Manager: Henry Morgan Limited
Inception Date: Feb 04, 2016

MILLIONS of dollars in fees paid by investment funds to their management firm, all of which are run by a Brisbane entrepreneur who names businesses after pirates, have come under scrutiny. An investor in Henry Morgan Ltd, a $60 million stockmarket-listed investment company, says he has had no luck getting a response on queries about performance or management fees paid to John Bridgeman Ltd, the company which manages Henry Morgan Ltd’s investments. [More]

Investor Stuart McAuliffe is on the verge of exposing the identity of a mysterious blogger who alleged his three ASX-listed investment companies were involved in something "f---g rotten". Mr McAuliffe, John Bridgeman Limited, Henry Morgan Limited and Benjamin Horngold Limited secured Federal Court orders on Friday against a website hosting company to give up all documents on the person behind the blog "10 Foot Investor" as part of a potential lawsuit. Between May and July, 2017, the blog anonymously published a series of posts critical of the companies and alleging that "something doesn't add up and I remain gravely concerned about the way that Henry Morgan and co are creating value for their shareholders". [More]

2017 ETF & LIC Performance Report

ETF Watch - Jan 15, 2018

Investors may look back on 2017 as a year of remarkably low volatility. As the world digested events like Brexit, the leader of the free world's erratic ways and the emergence of Bitcoin mania, equity markets marched forward unhindered by what was happening around them. The result was a remarkable 86% of ETFs and LICs reporting positive performance in 2017, up from 79% in 2016. The broad Australian market returned a solid but not amazing 11% (including dividends), but the real acti ... [More]

In a period which included shocks like Brexit and the Trump election win, equity markets performed surprisingly well in the 2017 Financial Year, with the Australian market up around 14% including dividends and global markets up around 20%. Most investors would be ecstatic with this type of performance every year and after the disappointment of the 2016 Financial Year, where most markets went nowhere, was a nice return to positivity for investors. Below we have listed the performance of all of ... [More]

Henry Morgan creates new global LIC

Financial Standard - May 12, 2017

Henry Morgan's investment manager, John Bridgeman, will launch a new global equities listed investment company following the successful oversubscription of another LIC last month. The new LIC, William Kidd Ltd, will be based on a global equities fund John Bridgeman is developing and the prospectus for its initial public offering is expected to be lodged in July. Henry Morgan and John Bridgeman are aiming to raise about $15.5 million. [More]

Listed investment company Henry Morgan Limited has delivered spectacular returns in the year to date, betting on the British pound, the euro and warning everyone that “if you think you are ‘long’ enough on stocks, you probably are not”. Last month, the company announced that net tangible assets before tax rose a staggering 45.5 per cent since January 1, 2017. However, often high returns are a result of high risk and given the leveraged nature of the fund’s investment strategy, the question must be asked whether this unusual little LIC is a lifetime opportunity or a house of cards that will eventually collapse? It also goes without saying any investment manager that names its funds after famous pirates is, well, highly speculative and makes no effort to conceal that fact. [More]

"Barbarians at the Gate" may have been a one-time popular description of New York's Wall Street, but if one local investor gets his way, Australian markets will be populated increasingly by pirates. Benjamin Hornigold, John Bridgeman and Henry Morgan are the names of famous pirates and local investment funds. John Bridgeman and Henry Morgan are already listed – on the National and Australian stock exchanges respectively – while Benjamin Hornigold is in the final stages of completing a small sharemarket float, raising an initial $20 million. [More]

A brief look at the performance charts of LICs on the ETF Watch Fund Database shows a shining light in what has been a reasonably good year for many funds. Little know LIC Henry Morgan Limited (HML), listing only in February 2016 has delivered a remarkable 64% investment growth and 12% dividend yield and still trades at a 20% discount to NTA.This remarkable performance has all happened whilst the majority of ‘free’ options have been exercised, and diluted the NTA somewhat. Benjami ... [More]

An Australian investor has quietly built a stake in takeover target Hunter Hall International, convinced the shares are trading at a "ridiculously low price" and the market has over-reacted to the exit of founder Peter Hall. Listed investment company Henry Morgan Limited and its investment manager, John Bridgeman Limited, have amassed a 5.18 per cent stake in Hunter Hall, it revealed on Tuesday. ASX-listed Henry Morgan and NSX-listed John Bridgeman, named for famous identities in pirate folklore, are both overseen by Stuart McAuliffe [More]

ou don't have to look far to find compelling evidence that 2016 was one of the hardest years on record for the multitrillion-dollar professional fund management industry. The Brexit vote and the election of Donald Trump as the next United States president caused enormous disruption to financial markets and, in some cases, harmed the reputations and careers of legendary money managers. It is worth exploring what went wrong in 2016 to help understand how investors should respond in 2017. [More]

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