WLE - WAM Leaders

[System]

WAM Leaders Limited (WLE) is a listed investment company that aims to provide shareholders with exposure to large-cap, undervalued companies using Wilson Asset Management's Research Driven and Market Driven investment processes.

It is anticipated that WLE will list on the ASX during May 2016.

http://www.wamfunds.com.au

 

[Dona Ferentes]

WAM Leaders: investment portfolio outperformance drives 15.0% increase in fully franked full year dividend
The WAM Leaders (ASX: WLE) Board of Directors announced on Monday a fully franked final dividend of 3.25 cents per share, bringing the FY2020 fully franked full year dividend to 6.5 cents per share. The fully franked full year dividend represents a 15.0% increase on FY2019.

The WAM Leaders investment portfolio’s significant outperformance during the 12-month period to 30 June 2020 contributed to the increased fully franked full year dividend. The investment portfolio outperformed the S&P/ASX 200 Accumulation Index by 10.4%^,
increasing 2.7%^.

WAM Leaders’ active investment approach, which focuses on large-cap companies with compelling fundamentals, a robust macroeconomic thematic and a catalyst to drive the share price higher, has led to strong investment portfolio performance in all periods throughout the Company’s history. Since inception in May 2016, the WAM Leaders investment portfolio has increased 10.2%^ per annum, outperforming the Index by 3.7%^ per annum.

 

[raimop]

My final choice in the 2022 competition is WLE - a LIC that invests in the top 200 on the ASX. So if the overall market goes well then WAM Leaders will be at the front and bring me home the cash lol

 

[Belli]

My final choice in the 2022 competition is WLE - a LIC that invests in the top 200 on the ASX. So if the overall market goes well then WAM Leaders will be at the front and bring me home the cash lol

If so much wasn't ripped out of this company in performance and management fees, I wonder if it's overall performance would be better than comparative sized LICs such as DUI.

 

[Dona Ferentes]

In light of heightened market volatility, the WAM Leaders Limited (ASX: WLE) Board of Directors has announced that it is in the best interests of shareholders to cancel the Share Purchase Plan (SPP) and return all amounts to shareholders who participated in the capital raising..


....they don't know what to do with the money?

 

[peter2]

Absolutely amazing that these "professional" fund managers can't find any investment opportunities in this period of increased volatility. What's hard about "buying the dips" with other peoples money.

 

[Dona Ferentes]

Absolutely amazing that these "professional" fund managers can't find any investment opportunities in this period of increased volatility. What's hard about "buying the dips" with other peoples money.

A few of Wilson's funds are running with high cash amounts , 10-20-30 per cent levels.
With fees that can hit 1% that's a pretty good reward for sitting on their hands.

 

[Belli]

That a large number of shareholders had little appetite to put money in to a fixed price SPP when the share seems to be trading at a premium (the offer was 5% below the share price at that time) despite being tempted by close to a 6% yield.

This is what I posted in the Buying the Dip thread. My feeling is the SPP wasn't well supported.

In regard to management fees, as at 31 December, shareholders paid almost $8m for that and the LIC was sitting on $24.4m in cash. Despite that amount an SPP to raise even more funds was offered.

Maybe those "sophisticated investors" who were to be offered a placement were cool on the idea as well

 

[divs4ever]

In light of heightened market volatility, the WAM Leaders Limited (ASX: WLE) Board of Directors has announced that it is in the best interests of shareholders to cancel the Share Purchase Plan (SPP) and return all amounts to shareholders who participated in the capital raising..


....they don't know what to do with the money?

well i am no financial expert , but that is the hint i am seeing

especially suspending the SPP ( which could easily be just issuing more shares )

PS i am assuming they mean suspending ( say for six months or maybe a year ) rather than stop it completely ( or restructure it while stopped )

certainly a decision i would have thought would be contrary to many rival fund managers ( which i suspect would be carefully accumulating capital , for various reasons .. buy-backs , redemptions, opportunities , etc etc )

i also notice that stable-mate WAX ( i hold, free-carried ) still seems to have the DRP active .

 

[divs4ever]

Absolutely amazing that these "professional" fund managers can't find any investment opportunities in this period of increased volatility. What's hard about "buying the dips" with other peoples money.

getting other people to send me money , in my case

 

[Dona Ferentes]

If so much wasn't ripped out of this company in performance and management fees, I wonder if it's overall performance would be better than comparative sized LICs such as DUI.

And a chance to rip more... despite the earlier mutterings..


WAM Leaders, the large-cap fund run by Geoff Wilson’s eponymous investment management group, is raising $100 million through a placement of 67.6 million shares to wholesale investors.

The fund’s shares entered trading halt on Wednesday morning.

Taylor Collison has been appointed as lead manager alongside Morgans, Ord Minnett, Canaccord Genuity, Shaw and Partners and Bell Potter.

WAM Leaders also intends to conduct a Share Purchase Plan to existing shareholders ... the SPP price will be the lower of pre-tax net tangible assets as at March 31 – $1.4749 per share – or a 2.5 per cent discount to the five-day volume-weighted average price at issue date

 

[divs4ever]

And a chance to rip more... despite the earlier mutterings..


WAM Leaders, the large-cap fund run by Geoff Wilson’s eponymous investment management group, is raising $100 million through a placement of 67.6 million shares to wholesale investors.

The fund’s shares entered trading halt on Wednesday morning.

Taylor Collison has been appointed as lead manager alongside Morgans, Ord Minnett, Canaccord Genuity, Shaw and Partners and Bell Potter.

WAM Leaders also intends to conduct a Share Purchase Plan to existing shareholders ... the SPP price will be the lower of pre-tax net tangible assets as at March 31 – $1.4749 per share – or a 2.5 per cent discount to the five-day volume-weighted average price at issue date

will be interesting to see the uptake of the SPP especially considering several other rivals ( ASX top 200 focused LICs ) exist with a long record to peruse .
will the sub $1.50 rice tag be the winning edge

while several ETFs and extra twists to the investment theme ( with liquidity as the temptation )

 

[Belli]

And a chance to rip more... despite the earlier mutterings..


WAM Leaders, the large-cap fund run by Geoff Wilson’s eponymous investment management group, is raising $100 million through a placement of 67.6 million shares to wholesale investors.

The fund’s shares entered trading halt on Wednesday morning.

Taylor Collison has been appointed as lead manager alongside Morgans, Ord Minnett, Canaccord Genuity, Shaw and Partners and Bell Potter.

WAM Leaders also intends to conduct a Share Purchase Plan to existing shareholders ... the SPP price will be the lower of pre-tax net tangible assets as at March 31 – $1.4749 per share – or a 2.5 per cent discount to the five-day volume-weighted average price at issue date

So the "heightened market volatility" has magically disappeared and everything is spiffing. Cool.

With the placement to wholesale investors, the smaller retail investor is diluted even if they take up some of the SPP - assuming they have the funds to do so as not all retail investors have a spare $30k lying about in their bank accounts.

 

[Dona Ferentes]

free food (sandwiches?) and drink (water)

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