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WAR, WAM STRATEGIC VALUE LIMITED
nipper
post Posted: Jun 28 2021, 11:33 AM
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In Reply To: nipper's post @ Jun 10 2021, 01:39 PM

WAR up and trading. No stag (but that was always unlikely). $1.26.

Now it will be up to Wilson to demonstrate the proposition has legs.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 10 2021, 01:39 PM
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In Reply To: nipper's post @ Jun 10 2021, 12:14 PM

IPO closes soon, media reporting a few skirmishes or shots across the bows of LICs
QUOTE
The latest alarm was at VGI Partners Global Investments Ltd (VG1), which fits WAR's tactics at about 10 per cent discount and saw heavy trading on Wednesday.
However, Wilson's attention is focused elsewhere. He's understood to be looking at another big target, Magellan's $1 billion Magellan High Conviction Trust (MHH), which is trading at a 12 per cent discount to its asset backing. Brokers reckon he has been snapping up MHH shares, to help get WAR off to a rollicking start.

Magellan High Conviction Trust is a nice juicy target. It listed in late 2019, is run by Hamish Douglass, invests in Microsoft, Alphabet, Facebook and the like, and its biggest shareholder is the Lowy Family Group, which declared a 5.35 per cent stake last November. Most importantly, it is struggling with a sizeable discount to asset backing.
As for WAR's other targets, one of the prime contenders has to be Templeton Global Growth Fund, which is part way through a strategic review and is one where Wilson Asset Management Group already has a toehold 14.6 per cent stake.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 10 2021, 12:14 PM
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Posts: 9,484
Thanks: 2775


WAM Strategic Value Limited (WAR) is looking to raise $225 million at $1.25 a share in an IPO due to list on 25 June.
The aim of the LIC is to provide Shareholders with strong risk adjusted returns derived from an Investment Strategy focused on identifying and capitalising on buying assets at a discount. The Investment Strategy will primarily focus on Australian LICs and LITs, with which the Investment Manager has significant expertise and experience for more than 20 years. The Company’s Investment Strategy will provide Shareholders with exposure to a diversified equities portfolio, predominantly comprised of Australian LICs and LITs, purchased at a discount to their underlying asset values that the Investment Manager believes will close over time.
The Investment Strategy's focus on LICs and LITs is expected to enhance diversification, providing direct exposure to a wide pool of underlying assets for investors.

The Company’s investment objectives are to provide capital growth over the medium-to-long term, deliver a stream of fully franked dividends and preserve capital while providing Shareholders with exposure to a diversified equities portfolio.

The Company aims to maximise total Shareholder returns with a combination of capital growth and income, allowing fully franked dividends to be paid to Shareholders, provided the Company has sufficient profits reserves and franking credits available and it is within prudent business practices to do so.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 



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