Each state has a different school holiday period, with NSW, Queensland, and Victoria among the states commencing holidays today.

Tasmania has the latest school holiday schedule this Easter season. The school break in our smallest state runs from 18 April to 3 May.

So, here's a list of all the ASX shares due to go ex-dividend over the coming weeks through to 3 May.

In order to receive a dividend, you must own the ASX share prior to its ex-dividend date.

Ex-dividend dates give ASX investors two opportunities.

Either buy before the date to receive the dividend, or wait until ex-dividend day, when the share price will likely drop, to buy then.

ASX shares with ex-dividend dates this month

The post 21 ASX shares going ex-dividend over the school holidays appeared first on The Motley Fool Australia.

Although many of the biggest dividend payers have already doled out their latest payouts following August and September's earnings season here on the ASX, a trickle of ASX All Ords shares that are trading ex-dividend for upcoming shareholder payments coming through.

Investors have enjoyed a relatively successful dividend season over the back half of 2024 so far. Sure, there were relatively lower payouts coming out of the big mining stocks like BHP Group Ltd (ASX: BHP) and Fortescue Ltd (ASX: FMG). Energy shares like Woodside Energy Group Ltd (ASX: WDS) have also tended to deliver less dividend income in 2024 than they did in 2023.

But those laggards have been more than offset by dividend hikes from the likes of Telstra Group Ltd (ASX: TLS), Coles Group Ltd (ASX: COL), CSL Ltd (ASX: CSL) and Commonwealth Bank of Australia (ASX: CBA). Woolworths Group Ltd (ASX: WOW)'s chunky special dividend was also undoubtedly welcomed by shareholders.

But today, let's discuss eight ASX All Ords shares that haven't doled out their latest payments just yet but that will trade ex-dividend next week.

Remember, an ex-dividend date always precedes a dividend payment. Only those shareholders that have a company's shares to their name at the close of the last trading day before the ex-dividend date are eligible to receive the dividend in question.

So if you wish to receive any of the dividends from the shares below, you know what you need to do.

Eight ASX All Ords income shares trading ex-dividend next week

*Dividend yield at the time of writing

Foolish takeaway

Some interesting names are trading ex-dividend next week. Some are well-known, others less so. Of particular note is the final dividend from investment house Washington H. Soul Pattinson.

As my Fool colleague discussed just yesterday, this latest dividend from Soul Patts marks the 24th year in a row of annual dividend increases from the company – an ASX All Ords record.

The post 8 ASX All Ords shares that will trade ex-dividend next week appeared first on The Motley Fool Australia.

Most LICs on the ASX invest in ASX shares or global shares. But WAM Alternative typically invests in unlisted businesses and assets.

The tagline of the LIC is that it invests in "unique opportunities beyond traditional assets".

At the end of June 2022, WAM Alternative Assets had gross assets of $243.4 million.

What investments are in the portfolio?

Looking firstly at the asset class exposure, there are four areas where the LIC has money allocated.

At 30 June 2022, it had 41.4% of the portfolio in 'real' assets, 25.7% in private equity, 5.5% in real estate, and 27.4% in cash.

The LIC provides a little colour on what each of these segments actually mean.

Real assets are a "diversified portfolio combining agricultural assets and investments in perpetual water entitlements which can be sold or leased to irrigators to generate income".

The water rights in the 'real assets' segment made up 35.4% of the total assets.

Private equity is a "diversified portfolio of unlisted companies with long-term and accelerated growth potential."

Real estate refers to a portfolio of domestic and international industrial office assets.

Talking to Livewire, the WAM Alternative Assets portfolio manager Dania Zinurova said that it has been hard for ordinary investors to get access to these sorts of assets, but an investment vehicle like this LIC is "democratising alternative investing for retail investors".

The LIC's strategy is to invest 'thematically' and focus on four key megatrend areas. These are essentially just trends but are strong and/or long term in nature.

Those four areas of focus are: a growing ageing population, climate change, digitalisation, and increasing demand for food.

Zinurova explained to Livewire what the investment team are looking for with these trends:

Within those megatrends, we look for strategies that are supported by strong long-term tailwinds and apply a holistic portfolio construction approach rather than follow rigid strategic asset allocation targets.

Top holdings

Let's look at some of the biggest holdings in the WAM Alternative Assets portfolio.

WAM describes the Argyle Water Fund as the leading non-irrigator water investor in Australia.

Another 'real asset' is the Strategic Australian Agriculture Fund, which invests in Australian water entitlements, Australian farmland and associated businesses, and Australian agricultural infrastructure.

Discussing the Argyle Water Fund, Zinurova told Livewire:

As the returns in this asset class are driven by a risk premium (i.e. climatic conditions) that differs from the equity risk premium of public equities, it provides valuable diversification to an investment portfolio.

However, the goal is to reduce the water allocation down to between 15% to 20% of the portfolio over time.

Turning to private equity next.

One investment is Birch Waite, a manufacturer of premium condiments, desserts, and beverages. Another example is aCommerce, a provider of outsourced e-commerce solutions in South-East Asia.

Shopper is another investment, which is the "fastest offline media business" in Australia. Next is esVolta, a developer of utility-scale battery energy storage projects in the US.

The last example is GMHotels, which owns and operates a portfolio of hotel assets in Australia.

Finally, looking at a couple of real estate examples, there is the Revesby Industrial Income Fund in NSW, and a property in Manhatten, New York, at 2 Rector Street.

WAM Alternative Assets share price snapshot

Over the past month, WAM Alternative Assets shares have risen by around 4%.

The post Own WAM Alternative Assets shares? Here's what you're invested in appeared first on The Motley Fool Australia.

Wilson Asset Management bid for the company last year, and received the endorsement of Blue Sky's weary shareholders a few months ago. Ever since, the company has been in transition mode. But this new appointment looks set to be the final chapter in Blue Sky's history. 

WAM Bam, but thank you ma'am?

Wilson Asset Management (WAM) is about to add WAM Alternative Assets to its existing stable of 6 Listed Investment Companies (LICs), which includes the well-regarded WAM Capital Ltd (ASX: WAM), WAM Leaders Ltd (ASX: WLE) and WAM Research Ltd (ASX: WAX) companies.

Up until now, the company has remained rather coy on who will be heading this newest LIC, only telling investors last month that the person selected would be a "highly experienced and credentialed portfolio manager".

But yesterday, WAM finally told investors that the new LIC will be headed by Dania Zinurova.

According to reporting in the Australian Financial Review (AFR), WAM recruited the investment veteran from the investment services arm of insurance and financial services giant Willis Towers Watson, where Ms Zinurova led research teams with coverage across equities, credit and alternative assets.

Regarding some of Ms Zinurova's intentions with the new LIC, the AFR quotes Ms Zinurova as stating an "intention to steer away from traditional alternative assets such as toll roads and airports, the highly credentialled investment professional plans to look at infrastructure assets such as data centres, echoing the growth-over-value focus in sharemarkets".

The idea is "to see where are the strong tail winds that we see in the market, for example, digital infrastructure [and] renewable energy", the AFR quotes Ms Zinurova. "Those are assets if you look at their underlying contracts and income and capital appreciation, they would be less linked to GDP compared to more traditional infrastructure."

Is Blue Sky worth a look today?

I think it is, for 3 reasons. Firstly, alternative assets are a useful area to explore in my view, particularly in this era of near-zero interest rates. The whole point of alternative assets is that they are less correlated to the returns of the broader stock market. This can be very useful for an investor's portfolio. Especially if the investment is also generating substantial dividends (which WAM is known for providing).

Secondly, Blue Sky shares are still trading below their Net Tangible Asset (NTA) backing. Blue Sky's most recent market update told investors that, as of the end of August, the fund's NTA per share came in a $1.0823. The current Blue Sky share price if 92 cents. That's a ~15% discount on offer right now.

Thirdly, WAM director Geoff Wilson is buying Blue Sky shares hand over fist. ASX records show Mr Wilson has purchased significant parcels of shares every day this week so far. As well as last week. If that's not a vote of confidence, I don't know what is.

The post New WAM Alternative Assets LIC appoints portfolio manager appeared first on The Motley Fool Australia.

One of the most unique shares on the ASX is Duxton Water Ltd (ASX: D2O). It owns water entitlements and it may benefit from the rising demand from high-value, high-water demand crops like almonds. However, the ongoing ACCC uncertainty makes me want to wait until the report is released before buying any more Duxton Water shares.

Meanwhile, there are other alternative ASX shares that can provide defensive income:

Rural Funds Group (ASX: RFF)

Rural Funds is a farmland real estate investment trust (REIT). Farms offer quite different return profiles compared to shopping centres or office buildings. It owns a variety of farm types including almonds, macadamias, cattle, vineyards and cropping (sugar and cotton).

Farms have been useful assets for many hundreds of years. We all need food. Rural Funds has a number of large, quality tenants like Select Harvests Limited (ASX: SHV), Treasury Wine Estates Ltd (ASX: TWE), Olam and Australian Agricultural Company Ltd (ASX: AAC).

The alternative ASX share receives steadily-growing rent from its tenants, which helps management confidently predict that the distribution can grow by 4% per annum.

Rural Funds actually owns a large amount of water entitlements which are leased to tenants. So whilst the alternative ASX share doesn't carry the operational risks of issues like droughts, it can help the tenant through drought problems.

At the current Rural Funds share price, it offers a FY21 distribution yield of 4.9%.

Blue Sky Alternatives Access Fund Ltd (ASX: BAF) / WAM Alternative Assets Limited (ASX: WMA)

The Blue Sky dramas will soon be over for this listed investment company (LIC) with management changing to Wilson Asset Management (WAM).

The alternative ASX share will invest across various assets including water, agriculture private equity, real estate, private debt and infrastructure. Some of these assets are only available to wholesale and institutional investors.

The LIC aims to deliver good total returns with a meaningful dividend yield.

At the end of August 2020 it had pre-tax net tangible assets (NTA) per share of $1.08, meaning it's trading at a 16.7% discount.

Whilst I don't expect this LIC to generate as strong returns as some of WAM's other LICs like WAM Microcap Limited (ASX: WMI) and WAM Leaders Ltd (ASX: WLE), I think it could produce decent total returns.

Vitalharvest Freehold Trust (ASX: VTH)

Vitalharvest is another agricultural REIT. The alternative ASX share owns some of the largest berry and citrus farms in Australia.

It receives a fixed rent and variable rent from its tenant, the large horticultural business Costa Group Holdings Ltd (ASX: CGC). The variable rent is a 25% profit share of the profit generated from the farms.

Some one-off issues, as well as the (lessening) drought have hurt the variable rent in FY20. However, I think that those issues are going to ease and we're going to see a return to good profitability for Vitalharvest.

Another thing that's exciting about the alternative ASX share is that it now has a new manager – Primewest Group Ltd (ASX: PWG). Primewest is going to look for food-related assets that can provide a more consistent return. It will still look for potential farm acquisitions, but other options could be food processing, food storage and food logistics properties.

At the current Vitalharvest share price it's trading at a 14.3% discount to the net asset value (NAV) per unit. It also offers a trailing distribution yield of 6.1%. But I think the distribution is going to rise from here as the variable profit hopefully returns to normal.

The post 3 alternative ASX shares to buy for defensive income appeared first on The Motley Fool Australia.

Well, Blue Sky is about to have a different face as well. It is set to rebrand as WAM Alternative Assets very shortly. So should we pick up shares in Blue Sky before it changes its face? Recent data indicates there might be a decent buying opportunity here.

What is Blue Sky?

The Blue Sky Alternatives Access Fund is a listed investment company (LIC) with something of a sordid past. Its original mandate was a focus on 'alternative assets', which refers to any assets outside the conventional circles of ASX shares, bonds and cash, such as water rights, infrastructure or venture capital. Many investors find these alternative assets attractive due to their low correlation to shares and the prospects of income in our low interest rate world.

However, Blue Sky has been in trouble for a couple of years, ever since a short-seller report exposed alleged problems and overvaluations regarding several of its underlying assets. Receivers were appointed in May 2019 to try and work through these issues, which has led the company into the arms of Wilson Asset Management (WAM).

Enter WAM

WAM is a company that has built a stellar reputation as an LIC manager. It currently offers six different ASX LICs which range from a focus on small or micro-cap ASX shares with WAM Microcap Ltd (ASX: WMI) to international growth companies with WAM Global Ltd (ASX: WGB). Its flagship LIC, WAM Capital Limited (ASX: WAM), has been around since 1999 and has delivered an average return to its investors of 16.1% per annum since (before fees and taxes).

WAM has been courting Blue Sky for a while now, but investors finally gave it the go-ahead for a takeover during an extraordinary general meeting earlier this month. As such, Blue Sky Alternatives Access Fund is set to become WAM Alternative Assets (ticker symbol to be WMA) in the near future (although an exact date has yet to be named). Under the agreement WAM struck with shareholders, the company will guarantee that the new WMA shares will return to being priced in line with its underlying net tangible assets.

Since shares of an LIC are traded in the public market, they can sometimes be priced at a level that is either above or below the value of the underlying assets. And Blue Sky has been underwater for a while now, likely reflecting the uncertainty of its future until recently.

So WAM has promised investors that if the new WMA shares don't trade at a premium to their underlying NTA for no less than one month at least three times during the next five years, shareholders will have the right to terminate the agreement with WAM.

Should investors buy BAF shares today?

So, it looks like Blue Sky has a very promising path back to potential glory. But let's look at the numbers. So, as I mentioned earlier, an LIC often trades at a premium or a discount to its underlying value. Recently (as of yesterday), Blue Sky has notified the markets of its underlying NTA for the month of August. The company advised that each share represented $1.084 in value on a pre-tax basis. At the time of writing, Blue Sky shares are going for 86 cents each. That means you can effectively purchase $1.08 worth of assets for 86 cents today in Blue Sky shares. That's a rough 20% discount to the assets' true value.

As such, I think there is definitely a value case for Blue Sky shares today. WAM is an astute and well-regarded steward of capital that I think can turn around Blue Sky's fortunes under the new name. We have here a compelling long-term value opportunity in my view.

The post Is the new WAM Alternative Assets LIC a buy? appeared first on The Motley Fool Australia.

In an extraordinary general meeting this week, 99.97% of the listed investment company's shareholders voted to hand over the reins to Wilson Asset Management.

BAF has been treading water ever since allegations surfaced that its previous manager exaggerated the magnitude of its assets.

Shareholders had watched in horror as their price went from a peak of $1.25 to just 68 cents in 2018.

But Wilson Asset Management chair Geoff Wilson on Wednesday sought to comfort investors with a promise he claimed was the "first of its kind in the Australian market".

Wilson Asset Management would live and die by what it calls the "premium target".

"The principle of the Premium Target is simple: the company's share price needs to trade at a premium to its pre-tax NTA for a period of one month for it to be achieved," Wilson said in a memo. 

"If this does not occur at least three times during the next five years, shareholders will automatically have the right to vote to terminate the arrangements with Wilson Asset Management, and to liquidate the company."

Blue Sky's ironically colourful history

BAF has been in the headlines for all the wrong reasons.

The Brisbane-based LIC was born out of parent and manager Blue Sky Alternative Investments Ltd (ASX: BLA) in 2014.

BAF is an "alternative" fund because it provides retail investors access to opportunities they can't normally reach. These include water rights, venture capital and private real estate, according to Wilson.

Back in 2018, short-seller Glaucus Research went public with accusations that Blue Sky had been exaggerating its assets under management while charging clients sky-high fees.

The company denied this was the case and even reported Glaucus to the Australian Securities and Investments Commission for price manipulation.

But eventually Blue Sky was forced to revalue its assets from $4 billion to $2.8 billion.

While all this was happening, the BAF share price tumbled. That was when Wilson first approached BAF about taking over.

While BAF was favourable about the change in management, BLA blocked the move.

Days before BLA went into administration in May last year, BAF even told its parent to stop touching its money.

After the collapse of BLA, BAF was then free to court Wilson again.

So now more than a year later, Wilson has finally been allowed in the cockpit.

No wonder Geoff Wilson was forced to make an unprecedented guarantee to BAF's scarred shareholders.

"I personally hold 6.4 million shares in the company," said Wilson this week.

"We will engage with current shareholders and market to new shareholders with a plan to return the share price to a premium to net tangible assets."

The post This LIC will be shut down if it doesn't meet target share price appeared first on The Motley Fool Australia.

What has been announced?

The Board of Blue Sky Alternatives Access Fund has announced it has finalised all key commercial terms with all parties to change the manager to Wilson Asset Management (WAM) from Blue Sky Alternative Investments Ltd (ASX: BLA).

This has been a long-running process ever since the collapse of the Blue Sky manager.

The existing management services agreement (MSA) between Blue Sky Alternatives Access Fund and Blue Sky the manager will terminate subject to finalising legal documents and shareholder approval.

There are six areas where Blue Sky Alternatives Access Fund outlined some key commercial terms to investors:

Fees – The fees that Blue Sky Investment will be able to charge is a 1.2% management fee and a performance fee.

Performance fees – The portfolio performance fee deficit at 31 December 2018 has been agreed at $2.86 million. That date was agreed after which no deployments of new capital were made into Blue Sky Funds. This deficit has been allocated against 11 underperforming funds, which won't be entitled to any performance fees until the fund's share of the performance fee deficit has been recovered from rebates paid to Blue Sky Alternatives Access Fund from that particular fund.

Rebates – Under the MSA, BSAAF pays rebates to Blue Sky Alternatives Access Fund to refund management and performance fees charged at the investment fund level as and when they are received. Going forward, fund level managers will pay rebates on management fees and allocated fund performance fees when the cash is received from the fund.

Management fee stepdown – If an allocated fund held by Blue Sky Alternatives Access Fund underperforms for two consecutive years in the first five years following termination of the MSA, the management fee able to be charged to Blue Sky Alternatives Access Fund will be halved to 0.6%.

Voting rights – The voting rights attached to Blue Sky Investments are currently vested in BSAAF without restrictions. Following termination of the MSA, these voting rights will revert to Blue Sky Alternatives Access Fund, to be exercised by WAM.

Transitional services – BSAAF has agreed to provide 60 days transitional services after termination to assist WAM to ensure that monthly NTA reports and other disclosures and obligations can be met during the manager transition.

The Blue Sky Alternatives Access Fund Board said it thinks WAM is the best option because it has extensive experience in managing investment funds and it has hired investment professionals for the alternatives strategy. The Board also said that a different option of trying to sell its assets would take a long time, asset sales could lead to lower asset prices and a worsening share price discount to NTA. Attempting to terminate its agreement with BSAAF could have led to an expensive, prolonged and uncertain legal process.

What now?

Blue Sky Alternatives Access Fund went into a trading halt. At the share price of $0.82, it's trading at a 28% discount to the stated net assets at 31 January 2020.

This could be the start of a turnaround, but alternative assets may not be for everyone, particularly with the fairly high management fees.

The post Blue Sky Alternatives Access Fund shifts to WAM, time to buy? appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) higher 0.25% to 6,310.90
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) higher 0.25% to 6,393.10
• AUD/USD at US 70 cents
• Gold at US$1,284.71 an ounce
• Brent Oil at US$70.73 a barrel

The best-performing ASX 200 share today was the TPG Telecom Ltd (ASX: TPM) share price which went up 5% after the ACCC decision and rebuttal.

The Adelaide Brighton Ltd. (ASX: ABC) share price fell 3.7% today as investors had a further negative reaction to yesterday's profit downgrade.

The share price of REA Group Limited (ASX: REA) rose 0.9% in response to its relatively pleasing March 2019 quarter update showing continued revenue and free cash flow growth.

The Infratil Ltd (ASX: IFT) share price was unmoved because it was in a trading halt with investors learning about a potential takeover of Vodafone New Zealand.

In the ASX 200, the worst performer was the Nufarm Limited (ASX: NUF) share price which declined 4.7%.

Confusion is high about who will manage Blue Sky Alternatives Access Fund Ltd (ASX: BAF) after the listed investment company (LIC) went into a trading halt as Blue Sky Alternative Investments Ltd (ASX: BLA), which was flat today, said it was ceasing negotiations with WAM. However, WAM will try to continue with the proposal.

Finally, the share price of Synlait Milk Ltd (ASX: SM1) fell 4% after it said it was confident in actions about the Pokeno site.

Here are some of today's top stories:

• The US-China trade war could be about to get ugly
• Insiders have been selling WiseTech Global and these ASX shares
• Act fast if you want the ANZ, NAB, and Westpac dividends
• Why the chance of a near-term interest rate cut just went up

The post ALL ORDINARIES finishes higher Friday: 8 shares you missed appeared first on The Motley Fool Australia.

When those shares are trading at an attractive price, you can pounce on them. These are four shares I have my eye on:

Altium Limited (ASX: ALU)

Altium has been one of the best shares to own over the past decade and I think it will keep doing well over the next decade.

It is rare to find businesses that truly transform their industries like Coca Cola, Google, Facebook, Amazon, Apple, CSL Limited (ASX: CSL) and so on.

Thinking you can't make any money on a business that is predicting a large increase in market share, revenue and profit margins could be a mistake, particularly as it keeps growing it's dividend payout to shareholders.

One of the best ways to beat the market these days is to go for the truly amazing companies, even if it looks expensive – which is a great lesson from Fool co-founder David Gardner.

Blue Sky Alternatives Access Fund Ltd (ASX: BAF)

Most readers will know the disaster that Blue Sky Alternative Investments Ltd (ASX: BLA) has gone through, but the listed investment company (LIC) Blue Sky Alternatives Access Fund could be a market-beater over the next year.

According to its latest monthly update, being February 2019, it had a pre-tax net tangible asset (NTA) value of $1.12 per share, compared to the share price of $0.83, which is a discount of 26%. If Wilson Asset Management do take over the business it's quite foreseeable the discount could close considerably quite quickly.

WAM Microcap Limited (ASX: WMI)

WAM Microcap invests in the smallest shares on the ASX, typically ones with market capitalisations below $300 million. This is usually where hidden gems are located that could handily outperform the broader share market over the medium-term.

The share price is now trading at around NTA, which it hasn't done so since the IPO. Over the next decade, WAM Microcap could be the best-performing WAM LIC and its attractive dividend is also a good selling point.

Vanguard FTSE Asia Ex Japan Shares Index ETF (ASX: VAE)

Asia might be the best place to be invested over the next century, and this ETF could be the clearest way to get exposure to that idea. Even Charlie Munger says China is probably the best place to invest at the moment.

The Asian middle class is growing in wealth and size, which could be a useful boost for many of the Asian shares based in China, Taiwan and India.

With a price/earnings ratio of just over 12 and an earnings growth rate of just under 12%, this looks like it could be the best ETF to buy today, particularly on a PEG ratio comparison.

Foolish takeaway

I think all of the above shares have a good chance of outperforming the ASX index over the next five years, whilst also providing a decent income stream. At the current prices I am attracted to WAM Microcap and the Vanguard Asian ETF the most because of the diversification and tailwinds that small caps and Asia enjoy.

The post Here's where I would invest $20,000 into ASX shares today appeared first on The Motley Fool Australia.

US Federal Reserve Chair boosts the market

The US Federal Reserve Chairman Jerome Powell put a rocket under the share market this week by saying that US interest rates may not rise as high as expected.

"Interest rates are still low by historical standards and they remain just below the broad range of estimates of the level that would be neutral for the economy — that is, neither speeding up nor slowing down growth."

The Altium Limited (ASX: ALU) share price went up 7.4% this week in response to the Fed news.

Soaring returns for the Afterpay Touch Group Ltd (ASX: APT) share price again

Afterpay shares went up 27% this week after an ASIC report acknowledged that the buy now, pay later business is indeed different to its competitors. It also held its AGM re-capping how well Australian and US expansion was going.

Royal Commission hearings end

The executives of Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), Australia and New Zealand Banking Group (ASX: ANZ), National Australia Bank Ltd (ASX: NAB) and AMP Limited (ASX: AMP) have appeared before Commissioner Hayne for the last time because Friday was the final day of the gruelling public hearings.

The final report is due to be submitted to the Governor-General by 1 February 2019, which may contain some suggestions on how to change the industry.

AGM season reaches boiling point

We've seen a higher level of shareholder protests this month due to high executive pay and/or poor company performance & decisions.

This week saw Myer Holdings Ltd (ASX: MYR) shareholders vote heavily against directors. We also Blue Sky Alternatives Access Fund Ltd (ASX: BAF) shareholders vote against appointing directors or increasing their pay.

A few weeks ago there was a large protest vote from Telstra Corporation Ltd (ASX: TLS) shareholders.

The post 4 big stories that affected the ASX 200 (ASX:XJO) this week appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) lower 1.58% to 5,667.20
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) lower 1.48% to 5,749.30
• AUD/USD at US 73 cents
• Gold at US$1,224.12 an ounce
• Brent Oil at US$59.65 a barrel

The best-performing ASX 200 share today was retirement village operator Aveo Group (ASX: AOG), its share price rose 4.3% after giving investors a strategic review update.

Afterpay Touch Group Ltd (ASX: APT) shares rose by another 4%, marking the end of a very strong week for the buy now, pay later business.

It wasn't a good day for Coca-Cola Amatil Ltd (ASX: CCL) as its share price fell nearly 14.5% after holding its AGM and saying it wasn't a good year for SPC.

Shares of Myer Holdings Ltd (ASX: MYR) rose 5.8% today after holding its own AGM and outlining its progress regarding turning things round.

The Blue Sky Alternatives Access Fund Ltd (ASX: BAF) share price is up 6% today with it seemingly on track for management by WAM after the other competitor pulled out.

Gold miner St Barbara Ltd (ASX: SBM) saw its share price rise 4.2%, making it one of the best performers today in the ASX 200.

Coles Group Ltd (ASX: COL) shares fell 5.5% with Fairfax media reporting that Amazon was selling products than the supermarkets at a cheaper price.

Finally, the Aristocrat Leisure Limited (ASX: ALL) share price dropped another 7%, making it the second biggest fall in the ASX 200.

Here are some of today's top stories:

• 5 reasons the Commonwealth Bank of Australia (ASX:CBA) share price could be a buy
• These were the best performers on the ASX 200 in November
• Why this lithium miner's shares have stormed higher today
• Sydney's house price falls accelerate in November, expert tips 15% fall in total

The post ALL ORDINARIES finishes lower Friday: 8 shares you missed appeared first on The Motley Fool Australia.

Future Generation refers to Future Generation Investment Company Ltd (ASX: FGX) and Future Generation Global Investment Co Ltd (ASX: FGG). These are two listed investment companies (LICs) that invest in fund managers who work for free, they don't charge management fees or investment fees.

Instead, 1% of the NTA is donated to youth related charities. It's a very good structure and cause.

The Forum brings together some of the fund managers for some investment tips, here are some of them:

Blake Henricks from Firetrail Investments chose Worleyparsons Limited (ASX: WOR), the Australian engineering business. He thinks it's a good choice due to where we are in the resource cycle and it's winning more business. Also, resource businesses will have to spend on capital expenditure just to maintain production. It has improved areas of its business like the balance sheet and costs in recent times. Mr Henricks has currently trading with a price/earnings ratio of around 12x.

Nick Griffin from Munro Partners chose Treasury Wine Estates Ltd (ASX: TWE), the owner of a portfolio of wine brands. China is powering its growth along and a rapidly growing middle class is increasing demand for quality Australian wine. Mr Griffin said it's trading at 20x forward earnings and could grow earnings at 20% per annum for the next three years.

Geoff Wilson from Wilson Asset Management chose Blue Sky Alternatives Access Fund Ltd (ASX: BAF) and Myer Holdings Ltd (ASX: MYR). For Myer, Mr Wilson thinks the new management of John King will turn things around. For the Blue Sky LIC, he thinks the share price could return to the NTA if WAM are given the management of it.

Oscar Oberg from Wilson Asset Management chose Baby Bunting Group Ltd (ASX: BBN), the baby product retailer. He and the WAM team think Baby Bunting can win more of the $2.4 billion baby market. Quite a few competitors have closed in recent times, around 70 stores have left the market, including Babies R Us. He thinks it's a defensive idea and can reach 80 stores faster than expected. Baby Bunting could grow private label sales, to up to 50% of sales, whilst also growing EBITDA margins from 6% to 10%. He thinks Baby bunting could grow earnings by 30%.

Foolish takeaway

Lots of interesting picks here and all of them are good candidates to beat the ASX over the next 12 months. If I could only choose two choices it would be Treasury Wines and the Blue Sky LIC. They seem like well-priced, defensive options that could grow earnings at good rates over the next few years.

The post Leading ASX fund managers name their top stock picks appeared first on The Motley Fool Australia.

A draft Investment Management Agreement has been announced to the market and will now be assessed by the non-executive directors.

WAM believes that its proposal is superior to the one offered by Pinnacle Investment Management Group Ltd (ASX: PNI).

There are a number of benefits that WAM pointed to:

WAM is a specialist LIC manager with the majority of its LICs like WAM Capital Limited (ASX: WAM) and WAM Research Limited (ASX: WAX) trading at a premium to the underlying net tangible asset (NTA) backing. WAM Capital, the largest, is trading at a premium of more than 20% to the September 2018 announced NTA.

However, WAM pointed out that the three LICs managed by Pinnacle are all currently trading at discounts to their respective NTAs. It is logical and fair to suggest that current shareholders want the share price to rise to a premium.

WAM has a long track record of strong performance and good engagement with shareholders, so Blue Sky Alternatives Access Fund shareholders would be benefit from quality stewardship.

How the new agreement would work

Under the new investment mandate for a diversified alternatives multi-manager approach, WAM would select market-leading investment managers in a particular asset class under the guidance of an experienced investment committee with access to a wide range of investment professionals.

No performance fee would be charged by WAM, however WAM would be entitled to an annual management fee of 1%. There would be an initial fee-free period on existing Blue Sky Alternative Investments Ltd (ASX: BLA) managed investments, which would cease its role as manager at a mutually agreed date – WAM suggested December 2018.

The agreement would be for an initial five years and the new Board of Directors would be committed to capital managements to ensure the share price of the company reflects the underlying asset value of the portfolio.

Foolish takeaway

I took Blue Sky Alternatives Access Fund off my watchlist after the whole debacle at Blue Sky. However, if WAM were in charge it would definitely go back onto my watchlist. If I were a shareholder I would vote for WAM over Pinnacle.

The post It's confirmed: Geoff Wilson's WAM pitches to manage Blue Sky Alternatives Access Fund Ltd (ASX:BAF) appeared first on The Motley Fool Australia.

Three small cap shares that haven't let this hold them back are listed below. Here's why they have stormed higher today:

The Blue Sky Alternatives Access Fund Ltd (ASX: BAF) share price has risen 5% to 88 cents after announcing that it has received a proposal from Wilson Asset Management (WAM) for WAM to be appointed as its new manager. The fund's non-executive directors have requested that WAM provide further detail regarding its proposal so that they can consider the proposal and provide full details to shareholders in due course.

The Catapult Group International Ltd (ASX: CAT) share price has raced 14% higher to $1.12 following the release of its first quarter update and guidance for the full year. The sports analytics and wearables company has had a solid start to FY 2019 and seen group cash receipts from customers rise 25% on the prior corresponding period to $34.7 million. The solid quarterly performance was driven by strong growth in its Elite Wearables segment, which saw revenue grow 51% on the prior corresponding period. As a result of this positive start, management expects full year revenue of between $86 million and $88 million in FY 2019. This implies growth of between 17% and 20% on FY 2018's result.

The CogState Limited (ASX: CGS) share price is up 7% to 60 cents. This morning the science and technology solutions provider released a business update ahead of its annual general meeting. Management advised that CogState's first quarter performance was in line with its revised guidance following the cancellation of Alzheimer's disease clinical trials. First quarter revenue came in at $6.4 million and its contracted revenue backlog stands at $29.8 million.

The post These small caps shares have stormed higher on Wednesday appeared first on The Motley Fool Australia.

Blue Sky Alternatives Access Fund is aimed at retail investors whilst Blue Sky's other funds are aimed at institutional investors.

It has been a harrowing year for Blue Sky with restructuring, one-off costs and questions about the value of its assets.

The LIC has been caught up in the drama and Blue Sky has decided to save costs by transferring management of the LIC to Pinnacle Investment Management Group Ltd (ASX: PNI). The change could see it invest in additional assets which Blue Sky currently doesn't.

However, the AFR's Street Talk understands that Wilson Asset Management (WAM) has made a play to take management of the Blue Sky LIC, with it already being a shareholder in the fund.

WAM runs a number of other successful LICs such as WAM Capital Limited (ASX: WAM) and WAM Research Limited (ASX: WAX). Street Talk understands that WAM has approached the Blue Sky representatives with a proposal.

Geoff Wilson said "no comment" when contacted by the AFR about this development.

Foolish takeaway

I was once interested in investing in the Blue Sky LIC, but I never ended up investing in it. The Blue Sky issues made me take it off my watchlist. However, Pinnacle as a manager would be interesting and I'd be very interested if WAM were running it.

Having a well-known manager with a proven long-term track record running it could be compelling. After all, water assets and private equity are potentially attractive asset classes.

The post Is WAM making a play to manage Blue Sky Alternatives Access Fund Ltd (ASX:BAF)? appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.54% to 6,015.20
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.47% to 6,100.00
• AUD/USD at US 75 cents
• Gold at US$1,324.40 an ounce
• Brent Oil at US$74.73 a barrel

The biggest news of the day was Australia and New Zealand Banking Group's (ASX: ANZ) half-year profit report, the big bank delivered cash profit growth of 4%. The share price finished 2.35% higher today.

Servcorp Limited (ASX: SRV) finished the day down 13.6% after the company downgraded its profit guidance due to weaker US operations.

The Ramsay Health Care Limited (ASX: RHC) share price went down 4.5% today after it turned out the CEO sold around $4.8 million of shares.

Pro Medicus Limited (ASX: PME) won a new contract, which sent the share price up by 2.13%.

It wasn't good news for Blue Sky Alternatives Access Fund Ltd (ASX: BAF) shareholders as the listed investment company announced today that it had sold two of its investments, one for less than its carrying value, this sent the share price down 2.82%.

WiseTech Global Ltd (ASX: WTC) went up by 5.3% after upgrading its revenue guidance for FY18.

Another share to do well today was IOOF Holdings Limited (ASX: IFL), the wealth business pointed out to shareholders how well its new acquisition performed in the ANZ result, which sent the share price up 4.68%.

Finally, Sigma Healthcare Ltd (ASX: SIG) had another good day with the share price going up by 5.2% on no company news.

Here are some of today's top stories:

• Sydney and Melbourne house prices fall again
• RBA keeps rates on hold: So buy these 3 dividend shares
• Why regulators roasted Commonwealth Bank of Australia again

The post ALL ORDINARIES finishes higher Tuesday: 8 shares you missed appeared first on The Motley Fool Australia.

This caused the share prices of both the Blue Sky manager and LIC to fall. The LIC's share price dropped by nearly 25%. However, the LIC recently announced a buyback of its shares and today it has given an update on some of the investments that it is exiting.

• Gundaline is a large cotton growing development. The LIC made its investment in 2014 and it is now exiting this. Blue Sky estimates that the sale proceeds will be at a slight premium to the carrying value and it achieved an internal rate of return (IRR) of 16%. These are currently estimates.
• Foundation Early Learning is a childcare operator. The LIC invested in 2014 and has signed the sale of this to an international childcare operator. This sale is estimated to be at a discount of carrying value at 14% to 23% and it is estimated to have generated an IRR of 4% to 7%. Blue Sky blamed this outcome on the substantial de-rating of comparable listed peers.

Foolish takeaway

I think it's a good thing that Blue Sky is being far more transparent about its assets and its goings on now. However, I find it an odd move to sell the Foundation Early Learning asset at a low point. There is every chance that the childcare industry could recover in time.

I was interested in the Blue Sky LIC at one stage, however this whole debacle has made me question whether I would be getting my money's worth.

The post Blue Sky Alternatives Access Fund Ltd announces asset exits appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.21% to 5,841.30
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.14% to 5,933.00
• AUD/USD at US 78 cents
• Gold at US$1,346.60 an ounce
• Brent Oil at US$71.84 a barrel

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price dropped a further 22% today after predicting profit and funds under management (FUM) would be less than guided for the FY18 result. Blue Sky Alternatives Access Fund Ltd (ASX: BAF) dropped by nearly 8% as well.

a2 Milk Company Ltd (ASX: A2M) is lining up its next stage of growth by expanding into South Korea. The a2 protein company's share price went up by 0.86% today.

Toll road operator Transurban Group (ASX: TCL) went up by 0.63% today after revealing its quarterly traffic figures.

The AMP Limited (ASX: AMP) share price dropped 0.42% after revealing a number of possible misconducts to the Royal Commission.

Seven West Media Ltd (ASX: SWM) gave up its gains from last week after winning the cricket TV rights, it dropped by over 10% today.

Fund manager Perpetual Limited (ASX: PPT) declined by over 5% today after revealing its funds under management figures for March 2018.

Finally, Praemium Ltd (ASX: PPS) went up by 6.45% today after its funds under administration hit $7.8 billion.

Here are some of today's top stories:

• What to expect when the Bank of Queensland Limited releases its results this week
• The stocks that will benefit from the Syrian missile strike jitters
• Why I think these 3 healthcare stocks look odds on winners

The post ALL ORDINARIES finishes higher Monday: 8 shares you missed appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.23% to 5,829.10
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.22% to 5,924.70
• AUD/USD at US 78 cents
• Gold at US$1,337.78 an ounce
• Brent Oil at US$71.86 a barrel

The Blue Sky Alternatives Access Fund Ltd (ASX: BAF) share price finished the day up 2.16% after declaring it would provide more disclosure for investors. However, it wasn't a great day for Blue Sky Alternative Investments Ltd (ASX: BLA) as it dropped by 2.42%.

Primary Health Care Limited (ASX: PRY) has gone up by 7.67% with a broker upgrading the healthcare company.

One stock has managed double digit gains today, the Seven West Media Ltd (ASX: SWM) share price increased by 12.62% because it won the cricket rights. Although Nine Entertainment Co Holdings Ltd (ASX: NEC) lost the rights the share price finished flat today.

The Fletcher Building Limited (ASX: FBU) share price shot up 8.47% on news that Wesfarmers Ltd (ASX: WES) is perhaps interested in investing in the company. The Wesfarmers share price finished down 0.19%.

Another share to do well today was Infigen Energy Ltd (ASX: IFN), the renewable energy company is also a takeover target according to media reports.

Finally, Bellamy's Australia Ltd (ASX: BAL) finished the day down 5%, giving up yesterday's gains.

Here are some of today's top stories:

• Dear Malcolm, Here's some advice…
• This sector is a winner from the Banking Royal Commission with a $150m-$250m windfall
• Are Catapult Group International Ltd shares cheap?
• How should you invest in your 30s?

The post ALL ORDINARIES finishes higher Friday: 9 shares you missed appeared first on The Motley Fool Australia.