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Watermark Global Leaders Fund Limited

Fund Manager: Watermark Funds Management
Inception Date: Dec 21, 2016

Watermark market neutral LIC to launch buy-back

Financial Standard - May 16, 2017

Watermark Funds Management will undertake an on-market, one-for-one buy-back for its global market neutral listed investment company, Watermark Global Leaders Fund (WGF), after announcing disappointing performance in 2016. In an investor update, Watermark said fund performance was beset by unfavourable stock-picking conditions, value gains being offset by losses in resources and financials and "lack of exposure to the rising market in the second half of 2016." [More]

Already one of the most popular LIC managers with their ~$400m Australian Leaders Fund (ALF) and ~$100m Market Neutral Fund (WMK), Watermark Funds Management will soon launch a new LIC IPO for their market neutral Watermark Global Leaders Fund (WGF). Watermark are aiming to raise a minimum of $40m and a maximum of $150m (including oversubscriptions) as part of the IPO. The fund will invest in the same manner as WMK, with 50% exposure to both long and short equities, meaning no net exposure to ... [More]

Former Hayberry Investments hedge fund manager Rohan Hedley will chair Watermark Funds Management's new listed investment company, Watermark Global Leaders Fund Ltd.  Watermark lodged a prospectus for the new fund on Thursday, outlining plans for an equity raising worth up to $150 million.  Under the proposed initial public offering, Watermark and its brokers would seek to sell 100 million new shares at $1.10 each and up to another $40 million in over subscriptions.  If successful, the fund would list with net asset backing worth $1.078 a share on December 21.  [More]

Justin Braitling's Watermark Funds Management is seeking to be the next Aussie fund manager to tap the $600 billion self-managed superannuation sector with a global shares fund.  Street Talk can reveal Braitling and his team have kicked off plans for a $150 million to $200 million global equities listed investment company to be called Watermark Global Leaders Fund.  It's understood Braitling plans to market the new fund through four broking groups post reporting season, raise capital in November and list before the end of the year.  It would be the third listed investment company from the Watermark stable, joining its flagship $400 million Australian Leaders Fund and the Watermark Market Neutral Fund.  [More]

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