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Geoff Wilson thinks WAM Global Limited (ASX:WGB) is a buy

One of the most accomplished investors in Australia is Geoff Wilson, who is the name behind Wilson Asset Management.

He is the Chairman of listed investment companies (LICs) WAM Capital Limited (ASX: WAM), WAM Leaders Limited (ASX: WLE), WAM Global Limited (ASX: WGB), WAM Research Limited (ASX: WAX), WAM Active Limited (ASX: WAA) and WAM Microcap Limited (ASX: WMI).

Mr Wilson was recently buying shares of WAM Leaders as it was trading at a discount to its net tangible assets (NTA) per share.

Today, it was announced that he acquired 45,436 more WAM Global shares for a total cost of $98,813.03 over the course of yesterday and today, which works out to be an average of $2.175 per share.

A couple of weeks ago WAM Global announced its post-tax NTA was $2.19 per share. The current share price is not a major discount, however if WAM Global starts to create strong returns then it could start trading at a premium like most of the other LICs.

As a reminder, WAM Global looks to give investors exposure to small-to-medium international businesses that are undervalued according to the WAM investment team.

If WAM Global can match the returns of the ASX-focused LICs then it could be one of the best LICs or funds to own for the long-term. Over the past five years WAM Capital’s portfolio has returned an average of 16.4% per annum before fees and WAM Research’s five year average return has been 18.8% per annum.

Foolish takeaway

I think it’s attractive for investors to be able to buy shares at a cheaper price than the IPO price. I already own shares of WAM Global and if it continues to trade at around this price then I’ll look to buy.

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Motley Fool contributor Tristan Harrison owns shares of WAM Research Limited and WAMGLOBAL FPO. 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 Scott Phillips.

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