Wilson Asset Management (WAM) reported negative performance in both their multi-strategy ASX-listed Active Fund (WAA) and their equity long/short Capital Fund (WAM). WAA returned a loss of 5.23% for November bringing the year-to-date cumulative performance to negative 12.62% while WAM returned a loss of 5.65% bringing the year-to-date cumulative performance to negative 34.21%.
WAA predominantly invests in ASX listed securities and Cash where appropriate investments cannot be identified. During November the Manager maintained of holding of approximately 80% of funds in cash. WAA offers investors exposure to an active trading style with the aim of achieving a sound return with a low correlation to traditional markets. The Manager noted: “This was achieved in our first eleven months with the Fund outperforming the All Ordinaries Accumulation Index by 27.8%.
WAM invests in ASX listed securities and employs an investment strategy which focuses on, but is not limited to, medium to small industrial companies, as well as under-researched and mis-priced stocks. The manager sees market opportunities through buying securities in entities through IPOs, placements or the purchase of block stock below what the manager believes is fair value. Acceptable diversification is achieved by investing in 20 to 30 securities over a range of industry sectors.
