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WAM Capital

Fund Manager: Wilson Asset Management
Inception Date: Aug 01, 1999

ALP may trigger $40bn LIC reset

The Australian - Nov 27, 2018

The $40 billion Listed Investment Company sector — a favourite of conservative investors — is going to have to undertake a massive legal restructure to save itself should the ALP win power. Geoff Wilson, one of the most powerful players in the LIC market said today he would be forced to convert the status of all the Wilson group LICs to trusts — a move that would protect both the future of the products and the returns of investors — if the ALPs goes ahead with a proposal to scrap cash rebates on franking credits to retirees. [More]

It was early 2015 and plaintiff law firm Slater & Gordon was on the march. Its shares had tripled in value in little more than a year and had become the biggest position in Wilson Asset Management's portfolio. So when Slater & Gordon struck an ambitious $1.3 billion deal to buy a UK law firm Quindell, and funded it with a two-for-three rights issue, it was hugely important for Wilson Asset Management's then senior equity analyst and dealer Martin Hickson. [More]

Make sure you have cash: Geoff Wilson

Financial Standard - Sep 26, 2018

Veteran investor Geoff Wilson says a bear market is inevitable and investors should check their cash holdings. WAM Capital is currently holding 29.2% in cash, WAM Leaders 14.6% and WAM Microcap 21.9%, the manager said in a conference call for media and investors yesterday, [More]

Geoff Wilson's WAM Capital is set to win its fight to gain control of $120 million listed investment company Wealth Defender Equities after the board advised shareholders to accept the takeover offer. Wealth Defender chairman Alan Schoenheimer said WAM Capital's offer of 1 WAM share for every 2.5 WDE shares should be accepted after independent expert Grant Thornton concluded it was "fair and reasonable". [More]

WAM Capital has launched a takeover bid for Wealth Defender Equities, Perennial Value's $110 million listed investment company. The $1.7 billion listed fund managed by Wilson Asset Management has made a conditional off-market takeover bid for WDE of 99¢ per share, a 3 per cent premium to the 96.12¢ net tangible asset value, and a 15 per cent premium to the last traded share price of 86.7¢.  WAM Capital had amassed an 18 per cent holding in Wealth Defender, which has underperformed the broader market since its $125 million listing, with the unit price declining by about 12.6 per cent compared to a 12 per cent gain in the broader share market.   [More]

It was only a matter of time until it happened. Poster boy of the Australian LIC landscape, Geoff Wilson and his team at Wilson Asset Management (WAM) are joining the increasing popular Global Listed Investment Company (LIC) space with their latest IPO, WAM Global Limited (WGB). The IPO is expected to open on 1 May 2018 and close on 8 June 2018, raising up to a total of $550m. This will be WAM’s 7th LIC, making them the manager with the most LICs on the ASX. With their LICs approac ... [More]

Small, cap-focused listed investment company WAM Capital has doubled its cash holdings since the end of last year as it looks to go bargain hunting after the ASX rout. But chairman Geoff Wilson said the firm was only "nibbling" at stock at this stage, and claimed the correction would highlight the value of active managers after a general shift towards passive strategies. "As an investor, this is when we get excited," Mr Wilson said of the global sell-off and the prospect of finding bargains. [More]

Catriona Burns grew up surrounded by market animals, but they were not your typical stockbrokers or traders. She comes from a long line of ferocious bargain hunters, including her mother who was raised on a property in Rockley, NSW, (population 182), and where the family spent school holidays. As the daughter of an auctioneer father, and jewellery and decorative arts specialist mother, she grew up on the auctions circuit "finding undervalued gems with a view to selling them later for profit", reflecting her family's interest in investing over the generations. [More]

Amazon has not yet perfected its fresh food offering in the US and its ability to take the oxygen out of the fresh food sector in Australia appears overstated, value investor John Ayoub says. "The reality is Amazon won't affect the earnings of these companies now and not for some time," Wilson Asset Management's Ayoub says.  "If we take a step back, the market is very vulnerable to noise. The fundamentals are taking a back seat and people are concerned about the outlook. If there's any incremental development that makes people more concerned, you see the knee-jerk reactions. Amazon's a wonderful business and whatever they set their minds to they eventually get there.   [More]

The chief investment officer of WAM Capital is confident the small end of the market will outperform blue chips in the year ahead, as hopes of US President Donald Trump turbo-charging economic growth fade and investors resume the hunt for bargains. WAM Capital, which will release its results on Monday, has lifted its full-year dividend 3.4 per cent to 15 cents, fully franked. But the listed investment company, which focuses on small to medium stocks, posted an investment portfolio return of 11.7 per cent, below the All Ordinaries accumulation index return of 13.1 per cent.   [More]

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