This document provides an overview of Wilson Asset Management and its alternative investment opportunities. It discusses the benefits of alternative investments including absolute returns uncorrelated with equity markets, diversification, and lower volatility than equities. It also outlines Wilson Asset Management's key asset classes including real assets, private equity, real estate, private debt, and infrastructure. The document discusses the Australian Government Future Fund's large allocation to alternative assets and Wilson Asset Management's top holdings. It introduces the investment committee and management team. Finally, it discusses the benefits of the listed investment company (LIC) structure and Wilson Asset Management's track record and shareholder engagement strategies.
Nelson Obus of Wynnefield Capital, Inc. is an American businessman and hedge fund manager As an out-spoken critic of the SEC, Nelson Obus is the president of Wynnefield Capital, Inc., an employee-owned hedge fund, specializing in value stocks of small-cap companies.
Many aspects of investing are unpredictable and therefore uncontrollable. When and how much markets rise and fall are factors completely out of the hands of investors. However,
investors have the ability to control many aspects of investing which can lead to a better investment experience. The following questions and answers use data and reasoning to shed light on some key principles that may help improve your odds of
investment success in the long run.
Nelson Obus of Wynnefield Capital, Inc. is an American businessman and hedge fund manager As an out-spoken critic of the SEC, Nelson Obus is the president of Wynnefield Capital, Inc., an employee-owned hedge fund, specializing in value stocks of small-cap companies.
Many aspects of investing are unpredictable and therefore uncontrollable. When and how much markets rise and fall are factors completely out of the hands of investors. However,
investors have the ability to control many aspects of investing which can lead to a better investment experience. The following questions and answers use data and reasoning to shed light on some key principles that may help improve your odds of
investment success in the long run.
Income Fund - Secured High Yield Convertable Note Reach Markets
This Income Fund has been set up for a one-year period to provide expansion capital to two underlying assets both of which are asset rich and cash-flow positive, with strong asset coverage ratios.
With a fully underwritten return of up to 18% p.a paid monthly, this is an opportunity to take advantage of a high yield investment whilst interest rates are low and the worldwide economic picture remains hard to predict.
Income Fund Secured High Yield Convertible NoteCorey Hulls
This Income Fund has been set up for a one-year period to provide expansion capital to two underlying assets both of which are asset rich and cash-flow positive, with strong asset coverage ratios.
With a fully underwritten return of up to 18% p.a paid monthly, this is an opportunity to take advantage of a high yield investment whilst interest rates are low and the worldwide economic picture remains hard to predict.
Catalyst Capital Advisors, LLC and Jerry Szilagyi SEC Fraud and Misleading In...HawkPeak
Sec.gov SEC charges portfolio manager Ed Walczak and advisory firm Catalyst Capital Advisors (CCA) Catalyst Funds and CEO Jerry Szilagyi with misrepresenting risk in mutual fund
KB Star Funds - Presentation Material (201606)kbasset
Please note that marketing materials without an approval code granted from the
Compliance Division of KB Asset Management are not official materials authorized
under our internal procedure. This marketing material is for general information
purposes only and subject to change. Investors should be aware that this presentation
does not purport to be a complete explanation of risks and other risks may also be
relevant from time to time. In the future the Fund may be exposed to risks that are
currently difficult to predict. Risks that are not described in it are considered as
immaterial at the moment, but they may become substantial later on and adversely affect
the fund. KB Asset Management does not guarantee investment decisions and
investment outcomes based on the information of this marketing material.
Approval Code Granted from the Compliance Division of KB Asset Management: 2015_336
Capital raising activity is ever-changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures which were once considered non-conventional in the industry have become a common discussion point for asset managers evaluating the strategy of their next fundraising effort.
Blockchain Valley Ventures -The Crypto Derivatives MarketPeter Wises
Blockchain Valley Ventures -The Crypto Derivatives Market
- 95% of the Volume Comes From Asia
- 8 exchanges account for +80% of the total market volume and +95% of all the derivatives futures volume comes from Asian exchanges
Income Fund - Secured High Yield Convertable Note Reach Markets
This Income Fund has been set up for a one-year period to provide expansion capital to two underlying assets both of which are asset rich and cash-flow positive, with strong asset coverage ratios.
With a fully underwritten return of up to 18% p.a paid monthly, this is an opportunity to take advantage of a high yield investment whilst interest rates are low and the worldwide economic picture remains hard to predict.
Income Fund Secured High Yield Convertible NoteCorey Hulls
This Income Fund has been set up for a one-year period to provide expansion capital to two underlying assets both of which are asset rich and cash-flow positive, with strong asset coverage ratios.
With a fully underwritten return of up to 18% p.a paid monthly, this is an opportunity to take advantage of a high yield investment whilst interest rates are low and the worldwide economic picture remains hard to predict.
Catalyst Capital Advisors, LLC and Jerry Szilagyi SEC Fraud and Misleading In...HawkPeak
Sec.gov SEC charges portfolio manager Ed Walczak and advisory firm Catalyst Capital Advisors (CCA) Catalyst Funds and CEO Jerry Szilagyi with misrepresenting risk in mutual fund
KB Star Funds - Presentation Material (201606)kbasset
Please note that marketing materials without an approval code granted from the
Compliance Division of KB Asset Management are not official materials authorized
under our internal procedure. This marketing material is for general information
purposes only and subject to change. Investors should be aware that this presentation
does not purport to be a complete explanation of risks and other risks may also be
relevant from time to time. In the future the Fund may be exposed to risks that are
currently difficult to predict. Risks that are not described in it are considered as
immaterial at the moment, but they may become substantial later on and adversely affect
the fund. KB Asset Management does not guarantee investment decisions and
investment outcomes based on the information of this marketing material.
Approval Code Granted from the Compliance Division of KB Asset Management: 2015_336
Capital raising activity is ever-changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures which were once considered non-conventional in the industry have become a common discussion point for asset managers evaluating the strategy of their next fundraising effort.
Blockchain Valley Ventures -The Crypto Derivatives MarketPeter Wises
Blockchain Valley Ventures -The Crypto Derivatives Market
- 95% of the Volume Comes From Asia
- 8 exchanges account for +80% of the total market volume and +95% of all the derivatives futures volume comes from Asian exchanges
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In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
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2. Disclaimer
Wilson Asset Management and their related entities and each of their respective directors, officers and agents (together
the Disclosers) have prepared the information contained in these materials in good faith.
However, no warranty (express or implied) is made as to the accuracy, completeness or reliability of any statements,
estimates or opinions or other information contained in these materials (any of which may change without notice) and to
the maximum extent permitted by law, the Disclosers disclaim all liability and responsibility (including, without limitation,
any liability arising from fault or negligence on the part of any or all of the Disclosers) for any direct or indirect loss or
damage which may be suffered by any recipient through relying on anything contained in or omitted from these materials.
This information has been prepared and provided by Wilson Asset Management. To the extent that it includes any
financial product advice, the advice is of a general nature only and does not take into account any individual’s objectives,
financial situation or particular needs. Before making an investment decision an individual should assess whether it meets
their own needs and consult a financial advisor.
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5. Asset classes
Real assets
Private equity
Real estate
Private debt
Infrastructure
Alternative asset opportunities
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Key benefits
Absolute returns uncorrelated with equity markets
Diversification
Lower volatility than equities
Exposure to innovative investment products and strategies
typically available only to wholesale and institutional
investors
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6. Australian Government Future Fund’s portfolio
composition Australian Government Future Fund’s
total alternative investments ($bn, June)
Cash
Australian
Equities
7%
Global Equities
27%
Debt
8%
Private
Equity
15%
Property 6%
Infrastructure /
Timberland
7%
Alternative
Assets
13%
17%
34
41
43
50
57
68
71
66
0
10
20
30
40
50
60
70
80
2013 2014 2015 2016 2017 2018 2019 2020
Total alternative assets = 41%
Australian Government Future Fund’s portfolio composition as of 30 June 2020. Total alternative assets include alternative assets, private equity,
infrastructure / timberland and property. Note that the classifications by Australian Government Future Fund may differ from those adopted by BAF
A critical and growing asset class
Almost
doubled in
seven years
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7. Venture Capital
Growth Capital
Private Equity
Real Assets
Water Rights
Pioneer and leading non-irrigator
water investor in Australia
Agriculture
Strategic Australian Agricultural Fund
A diversified portfolio of Australian agricultural assets
and water entitlements
Real Estate
Australian Real Estate
US Real Estate
2 Rector Street, Manhattan, New York
441 Ninth Avenue, Manhattan, New York
Darra Industrial Income Fund
Revesby Industrial Income Fund
Top holdings
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8. Investment Committee
Page 8
Geoff Wilson AO
BSc GMQ FFINSIA FAICD
Board Director & Investment
Committee member
Geoff is the Founder, Chairman &
Chief Investment Officer of Wilson
Asset Management (International) Pty
Limited and the Chairman of the six
LICs it manages. Geoff has over 39
years’ direct experience in investment
markets having held a variety of senior
investment roles in Australia, the UK
and the US.
John Roberts
LLB
Investment Committee
member
John Roberts has almost three
decades’ investment experience
gained in senior alternatives focused
roles with Macquarie Group, including
Head of Europe, Joint Head of
Macquarie Capital Advisers, Global
Head of Macquarie Capital Funds and
Executive Chairman of Macquarie
Funds Group. John is currently
Chairman of Macquarie Infrastructure
and Real Assets and a Partner at
Alfred Street Investment Partners.
Adrian Siew
BSc (Hons I)
Board Director &
Investment Committee
member
Adrian is a highly experienced
alternatives professional with
almost 25 years’ investment
experience gained in senior roles
with Nacre Holdings, The Carlyle
Group and The Straits Trading
Company, beginning his career in
M&A with Goldman Sachs.
To be announced
Portfolio Manager
A highly experienced and credentialed
portfolio manager with alternatives
experience gained in the US, UK,
Europe and Australia.
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9. Page 9
Expertise in LICs,
commitment to shareholder engagement
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12. John Ayoub
LLB BA GradCertAppFin
Portfolio Manager
Matthew Haupt
BCom GradDipAppFin CFA
Lead Portfolio
Manager
Adrian Siew
BSc (Hons I)
IC Member
Director
Oscar Oberg
LLB BBus CFA
Lead Portfolio
Manager
Kate Thorley
BCom CA GAICD
Chief Executive
Officer
Geoff Wilson AO
BSc GMQ FFINSIA FAICD
Chairman &
Chief Investment
Officer
Catriona Burns
BCom MAppFin FFINSIA CFA
Lead Portfolio
Manager
Nick Healy
BEng (Hons) MBA
Senior Equity
Analyst
Shaun Weick
BBus (Fin) CA
Equity Analyst
Tobias Yao
BCom CFA
Portfolio Manager
James McNamara
BJourn MComn GradDipFin
Head of Corporate
Affairs
Jesse Hamilton
BCom CA
Chief Financial
Officer
Cooper Rogers
BCom GradDipAppFin
Dealer
Sam Koch
BBus CFA
Equity Analyst
Tyler McKay
BBus
Assistant Dealer
William Liu
BCom MFin
Equity Analyst
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Investment & management team
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13. Closed-end structure –
no applications or
redemptions
The ability to make longer term
investment decisions
Trades on the ASX which
provides intra-day liquidity
Public companies provide
stringent corporate governance
and accountability of Directors
Provide a stream of
fully franked dividends
Provides opportunities –
can trade at a premium/
discount to assets
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Superiority of the LIC structure
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15. Winner of the LIC category at the
Professional Planner | Zenith Fund Awards
2014, 2015, 2016, 2017 and 2018
Our LICs receive coverage from the
following independent investment
research providers:
Research coverage & awards
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18. Page 18
$
Share price to NTA
0.00
0.50
1.00
1.50
2.00
2.50
3.00
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Share price Pre-tax net tangible assets
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19. Growth of WAM Capital by market capitalisation
Superior growth potential
Page 19
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Market
capitalisation
by
$
million
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only
20. FY15: $196.9m
Shares issued via share purchase plan
$103.3m
Shares issued via placement
$90.1m
Shares issued via DRP underwriting
$3.5m
FY14: $72.0
Shares issued via exercise of options
$43.5m
Shares issued via placement
$24.7m
DRP underwriting agreement
$3.8m
FY13: $239.4m
Shares issued via exercise of options
$202.4m
Shares issued via placement
$37.0m
FY13-18:
$906.9m
Capital raisings
FY18: $66.2m
Shares issued via DRP shortfall
placements
FY17: $307.3m
Shares issued via share purchase plan
$128.4m
Shares issued via placement
$119.1m
Shares issued via DRP shortfall
placements
$59.8m
FY16: $25.1m
Shares issued via DRP shortfall
placement
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21. Page 21
Raised through an option issue over a 1.5
year campaign
The options expired on 17 November 2017
with 95.7% exercised
Shares issued via an oversubscribed IPO
9,908 investors participated in the IPO, with
4,202 being existing Wilson Asset Management
LIC shareholders
May 2016:
$394.3m
$377.3m
Shares issued by an initial public offering
12,855 investors participated in the IPO,
with 8,000 being existing Wilson Asset
Management LIC shareholders
June 2018:
$465.5m
Shares issued by an oversubscribed IPO
4,769 investors participated in the IPO, with
2,752 of whom were existing Wilson Asset
Management LIC shareholders
June 2017:
$154.0m
August 2020:
$88.0m
Raised through an oversubscribed
Share Purchase Plan and Placement
More than 55% of existing shareholders
participated in the SPP
Page 21
Capital raisings
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23. “Best of breed”
managers
for each asset class
Diversity of portfolio with
continued focus on core asset
classes, broadened to
selectively include private debt
and infrastructure
Combination of
primary, secondary
and co-investments
Australasia-focused with
opportunistic approach
to other geographies
Consider ex-BLA
opportunities (new and
follow-on investments) on
a standalone merit basis
Franked dividends
Page 23
Investment
team
Seasoned portfolio manager and IC, with Geoff
Wilson AO as Chief Investment Officer and access
to our team of 14 investment professionals with
combined investment experience of more than
190 years
Branding Rebranded as WAM Alternative Assets Limited
(ASX: WMA)
Oaktree/BLA Strong relationship with Oaktree / ex-BLA
ensures a smooth transition of manager and
continued creation of value
Share price
trading
Eliminate the share price discount to NTA
through Wilson Asset Management’s active
shareholder engagement strategy
Our aim:
Consistently deliver absolute returns
with a meaningful dividend yield
Post-transition strategy
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24. Current BAF(a)
Diversified portfolio
of asset classes with
multiple managers
Diversified portfolio
of asset classes with
multiple managers
Growth through
capital raisings and
absolute performance
Narrowing of
trading discounts
Market cap = $171m(b) Market cap = $211m(c) Market cap = $500m-$1b+
43%
24%
7%
26% Real assets
Private equity
Real estate
Cash
(a) Portfolio composition as of 31 July 2020
(b) As of 4 September 2020
(c) Total portfolio valuation as of 31 July 2020
Post-transition strategy
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