Wilson Asset Management (WAM) has released more information about the upcoming launch of WAM Global. Geoff Wilson told the AFR that WAM aim to raise $300 million for the globally-focused listed investment company (LIC). WAM already run a number of very successful LICs including WAM Capital Limited (ASX: WAM), WAM Research Limited (ASX: WAX), WAM Leaders Ltd (ASX: WLE) and WAM Microcap Limited (ASX: WMI). Investors have been impressed by the WAM investment strategy and performance but have been asking for a LIC which invests overseas for a long time. Geoff Wilson said WAM Global is…
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Wilson Asset Management (WAM) has released more information about the upcoming launch of WAM Global.
Geoff Wilson told the AFR that WAM aim to raise $300 million for the globally-focused listed investment company (LIC).
Investors have been impressed by the WAM investment strategy and performance but have been asking for a LIC which invests overseas for a long time.
Geoff Wilson said WAM Global is on track to lodge a prospectus by April and should prove popular with WAM’s current investors.
Many Aussie investors are too ‘overweight’ on domestic shares and would benefit by diversifying their money into international shares.
The new LIC will use the same successful investment process as the other ones currently do.
WAM will be hiring a new person to manage the WAM Global portfolio. Mr Wilson describes this individual as ‘an exceptional fund manager…they have 13 years’ investment experience focusing on global and Australian equities.
As a past employee of Wilson Asset Management, they have intimate knowledge of how we invest, analysing investment opportunities according to our research-driven investment process that is focused on undervalued growth companies with a catalyst for revaluation and has a deep understanding of our commitment to capital preservation. We will announce their official appointment in the coming weeks.’
WAM report that there are more than 3,000 investors who have registered for updates for WAM Global.
I’m very interested in the WAM Global launch and will likely participate, depending on how much capital WAM Global’s required minimum amount is. WAM Global could turn into WAM’s most successful LIC given how many more potential companies the investment team can choose from.
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Motley Fool contributor Tristan Harrison owns shares of WAM Capital Limited, WAM MICRO FPO, and WAM Research Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.