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Wealth Defender Equities

Fund Manager: Perennial Value
Inception Date: May 01, 2015

Perennial has reduced management fees for its defensive listed investment company as part of a revision of the overall investment strategy. Management fees for the Wealth Defender Equities LIC will be cut from 0.98% to 0.8%. This follows the LIC's board announcing that historically the investment mandate has included the carrying a level of protection "sufficient to reduce the magnitude of negative returns during sharp equity market falls." WDE chair Alan Schoenheimer explained: "The initial view was that the cost of this protection strategy would be 1-2% per annum over the long term. However, the actual cost of protection since inception has been higher than this." Schoenheimer said the cost of said protection has detracted from WDE's overall investment performance and impacted dividend payments. [More]

Veteran stockpicker John Murray of Perennial Value Management plans to list a second managed Australian equities fund targeting the growing and lucrative segment of Australians who are approaching retirement or already retired. Street Talk can reveal Murray is looking to raise $250 million for what will be called the eInvest Income Generator Fund and which will trade as an exchange-traded managed fund, or ETMF. The fund will be a listed version of the Perennial Shares for Income product managed by Murray and Stephen Bruce which has been running for 12 years. Perennial Value Management already has a listed investment company, or LIC, in Wealth Defender Equities. [More]

WDE Announces share buy back

Money Management - Feb 01, 2018

Wealth Defender Equities (WDE) has announced plans to undertake an on-market share buy-back of up to 10 per cent of its issued share capital, as a part of capital management initiative over the 12 months, and declared a fully-franked two cents per share interim dividend. The decision to pay such a dividend, which was declared for the half year to December, 2017, was helped by a combination of strong investment performance coupled with a reduction in the cost of providing protection over the past year, the company said. [More]

Perennial Value Management veteran stock picker John Murray has defended the lacklustre performance of the fund manager’s listed offshoot Wealth Defender Equities, which uses “airbag” derivative tools to protect holders from violent market downturns. A listed investment company, Wealth Defender Equities, or WDE, floated at $1 a share in May last year (with an attached option) but since then has traded well under its issue price and the net tangible value of its portfolio. Mr Murray, who has a sizeable personal stake in the listed investment company, says WDE will not change its value-sniffing approach. “WDE is still unique,’’ he said. “The spots on the WDE tiger have not changed.” [More]

2016 has certainly started with a bang. As we write this the ASX is down around 8% for the year, some advisers are telling their clients to sell everything and the most fear and panic we’ve seen for a number of years are gripping global markets. This two part series is going to look at some of the strategies and funds that can be used to protect your portfolio in these volatile times. Part 1 below focuses on Listed Investment Companies (LICs), with part 2 focusing on Exchange Traded Funds ... [More]

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