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WAM Active Limited (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 investment objectives are to deliver investors a growing stream of fully franked dividends and to preserve capital in both the short term and long term.
| Quick Facts as at 30 April 2013 |
| Fund Size (millions) |
$29.8m |
| Net Assets per share (before tax) |
$1.09* |
| Share price as at 24 May 2013 11:29 PM |
$1.15 |
| Current Equity Exposure |
61.9% |
| Fully Franked annualised interim dividend (cents per share) |
9.5 |
| Fully franked annualised interim dividend yield |
8.26% |
| Perfomance as at 30 April 2013 |
1 Mth
% |
6 Mths
% |
Fin YTD
% |
1 Yr
% |
2 Yrs
%
p.a. |
3 Yrs %
p.a. |
Since Inception
(Jan-08)
% p.a. |
| WAA Investment Portfolio |
-0.6% |
+13.0% |
+20.6% |
+20.0% |
+10.7% |
+10.5% |
+13.3% |
| S&P/ASX All Ordinaries Accumulation Index |
+3.8% |
+16.3% |
+29.6% |
+21.0% |
+7.4% |
+6.8% |
+0.3% |
| Outperformance |
-4.4% |
-3.3% |
-9.0% |
-1.0% |
+3.3% |
+3.7% |
+13.0% |
| UBS Bank Bill Index |
+0.3% |
+1.6% |
+2.8% |
+3.5% |
+4.2% |
+4.4% |
+4.8% |
| Outperformance |
-0.9% |
+11.4% |
+17.8% |
+16.5% |
+6.5% |
+6.1% |
+8.5% |
| Top 10 Holdings as at 30 April 2013 |
|
CYA
|
Century Australia Investments Ltd
|
4.6%
|
CYG |
Coventry Group Ltd |
2.2%
|
|
HIL
|
Hills Holdings Ltd
|
3.0%
|
SDG |
Sunland Group Ltd |
2.2%
|
|
HVN
|
Harvey Norman Holdings Ltd
|
2.9%
|
ELI |
Emerging Leaders Investments Ltd |
2.2%
|
| BKW |
Brickworks Ltd |
2.7%
|
WIC |
Westoz Investment Company Ltd |
1.9%
|
| FXJ |
Fairfax Media Ltd |
2.6%
|
ANZ |
Australia and New Zealand Bank Group Ltd |
1.8%
|
Investment Strategy
We take advantage of relative short-term arbitrages and mis-pricings in the Australian Equities market, rather than investing in any individual companies or portfolio of companies for a prolonged period of time. This part of
the portfolio is traded actively.
We scour the market for opportunities:
• initial public offerings
• capital raisings
• block trades
• oversold positions
• takeovers
• Listed Investment Companies (LIC) discount to net tangible assets (NTA) plays
• stocks trading at a discount to their NTA
• earnings momentum / surprises
• short selling
• market themes and trends