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Spheria Emerging Companies Limited

Fund Manager: Spheria Asset Management
Inception Date: Dec 05, 2017

Boutique fund manager Spheria Asset Management are currently raising up to $250m for their new Listed Investment Company, Spheria Emerging Companies (SEC). The offer is open until 25 November, unless fully subscribed prior. What is the strategy? The fund will target a portfolio of small cap stocks: The Manager will seek to purchase securities in businesses where the present value of future free cash flows can be reasonably ascertained, and the security is trading at a discou ... [More]

Spheria launches new LIC

Money Management - Oct 24, 2017

Spheria Emerging Companies (SEC) has launched its initial public offering (IPO) for a listed investment company (LIC) which will offer investors access to a small and micro cap portfolio of Australian and New Zealand companies. The offer, which was expected to raise up to $250 million, comprised 125,000,000 fully paid ordinary shares in SEC at an application price of two dollars per share, with no over subscriptions. The company said its objective would be to maximise total shareholder return via a combination of capital growth and income, with the aim of regularly paying fully franked dividends to shareholders. The new LIC would be managed by Spheria Asset Management’s small and micro cap investment team including Matthew Booker, Marcus Burns and Adam Lund. [More]

LIC season is well and truly in full bloom with small-cap fund manager Spheria the latest to target investors with an ASX-listed offering. Spheria, which is part of the Pinnacle stable of funds that include previous LIC issuers Antipodes and Plato, has over $400 million under management and is targeting a maximum raising of $250 million. It will not take over-subscriptions.  Spheria's offering will invest in a blend of small and micro-cap companies and aims to give investors a diversified exposure to small companies with good cash flow generation. It is expected to meet increased demand among investors for a listed version of their funds, with Spheria to cover the issue costs of the capital raise through recouping the performance fee [More]

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