ASX:WAX

Wilson Asset Management weekly: Mantra and Swift

Chris Stott
Chris Stott Wilson Asset Management

The S&P/ASX All Ordinaries Accumulation Index closed up 1.9% for the week. On Thursday, Australian shares closed at their highest level in three-and-a-half months, led by a rally in the big four banks. The Westpac-Melbourne Institute index of consumer sentiment rose 3.6% in October, representing the highest level recorded in... Show More

Ten high yielding LICs

Peter Rae
Peter Rae Independent Investment Research

In its latest LMI Monthly Update, Independent Investment Research takes a look at the ten highest yielding listed investment companies in its coverage and also considers the sustainability of dividends. We also discuss and provide our views on some recent events within the LIC space. Refer to our report below... Show More

Wilson Asset Management weekly: Afterpay and Boral

Chris Stott
Chris Stott Wilson Asset Management

The S&P/ASX All Ordinaries Accumulation Index closed up 0.4% for the week. On Tuesday, National Australia Bank’s (ASX: NAB) monthly survey found business conditions reached their highest level since 2008, with business sentiment improving across most industries in August. The Westpac Melbourne Institute Index of Consumer Sentiment, released on Wednesday,... Show More

LIC Reporting Season Wrap – Dividends Hold Up

Peter Rae
Peter Rae Independent Investment Research

For the reporting season just finished there were 24 listed investment companies covered by Independent Investment Research that reported full year results. Out of this 24, there were 14 LICs that experienced earnings declines. This reflected lower dividend income, particularly for those LICs that have capital account status, and also... Show More

Wilson Asset Management weekly: Noni B and Reliance

Chris Stott
Chris Stott Wilson Asset Management

Overall the reporting season, which concluded on Thursday, was mixed, with a number of companies falling short of market expectations. Companies trading on high price-to-earnings ratios struggled, notably Domino’s Pizza (ASX: DMP) and Corporate Travel Management (ASX: CTD). The defensive sectors had one of their worst reporting periods in a... Show More

Wilson Asset Management weekly: BHP and iSelect

Chris Stott
Chris Stott Wilson Asset Management

The third and busiest week of reporting season saw strong performance from the mining services sector, while most companies continue to provide subdued outlook statements reflecting current economic conditions. Overall company results have not met the market’s expectations invoking strong reactions from investors in some cases. In this week's report... Show More

How do microcap managers perform in the long-term?

Mark Tobin
Mark Tobin Independent Investment Research

Active microcap managers demonstrated in FY17 that this part of the stock market can be a great alpha generator for managers (and their investors). In this wire, we ask how they have stacked up against their benchmarks over 3, 5 and even 10 years... Show More

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Wilson Asset Management weekly: Origin Energy and SG Fleet results

Chris Stott
Chris Stott Wilson Asset Management

As reporting season continues this week we have seen many companies provide conservative outlook statements for the year ahead, confirming a backdrop of moderate earnings growth. Among the themes to emerge is companies reinvesting into their businesses to drive growth in a relatively anaemic economic environment. In this week's report... Show More

Large cap LICs outperform small caps in FY17

Peter Rae
Peter Rae Independent Investment Research

In its latest LMI Monthly Update, Independent Investment Research looks at the performance of the LIC sector over the 12 months to 30 June 2017. The Australian large cap share focused LICs benefited from solid market performance over that time with the five largest LICs delivering an average portfolio return... Show More

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Five LICs at a discount to NTA

Peter Rae
Peter Rae Independent Investment Research

In its latest LMI Monthly Update, Independent Investment Research takes a look at why listed investment companies trade at discounts and premiums to net tangible asset value. We also take a look at five LICs that are currently trading at large discounts to NTA, look at some of the reasons... Show More

Future generation stock ideas are outperforming

Alex Cowie
Alex Cowie Livewire Markets

A cohort of Australia’s leading fund managers gathered at the 2017 Future Generation Investment Forum two weeks ago, each presenting their top stock idea. A clear trend is already emerging in the domestic stocks mentioned. While the broader market has pulled back 2.2% since the Forum, this group of stocks... Show More

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Large cap LICs continue to benefit from strong market

Peter Rae
Peter Rae Independent Investment Research

In its latest Monthly LMI Update, Independent Investment Research looks at listed investment company performance over the March 2017 quarter. The Australian large cap focused listed investment companies benefited from the solid market performance over the quarter with the five largest listed LICs delivering an average portfolio return (pre-tax NTA... Show More

How to identify outstanding LICs

Independent Investment Research
Independent Investment Research Independent Investment Research

Listed Investment Companies (LICs) have enjoyed somewhat of a renaissance ever since the Future of Financial Advice (FOFA) reforms levelled the playing field with unlisted trusts. In the last four years, 42 new LICs have been listed, bringing the total combined market capitalisation for all LICS to $31 billion at... Show More

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Helloworld's flying upgrade

Chris Stott
Chris Stott Wilson Asset Management

On Friday, Helloworld Limited (ASX: HLO) announced an upgrade to its current earnings guidance with earnings before interest, tax, depreciation and amortisation (EBITDA) up from $47 to $51 million to between $52 and $55 million on the back of approximately $5.8 billion of total transaction value (TTV). Helloworld said that... Show More

Do options provide LIC investors with value?

Peter Rae
Peter Rae Independent Investment Research

Since January 2013 there have been 30 new listed investment companies (LICs) join the ASX. Each of these LICs issued investors with options as part of the initial public offer (IPO). In most cases, investors received one ‘free’ option for each share, although there were some offers where the ratio... Show More

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Nufarm FY2017 half year results

Matthew Haupt
Matthew Haupt Wilson Asset Management

On Wednesday, agricultural chemical company Nufarm (ASX: NUF) announced its FY2017 half year results, with revenue up 15% on the previous corresponding period and underlying earnings before interest, tax and amortisation (EBITDA) also up 15% to $128.7 million. Despite tough operating conditions, Nufarm benefitted from new product launches, market share... Show More

Reckon – proposed demerger

Chris Stott
Chris Stott Wilson Asset Management

On Friday, software company Reckon (ASX: RKN) announced a proposed demerger of its document management division, which currently represents approximately 15% of 2016 group turnover, with shares to trade on the AIM Market of the London Stock Exchange (AIM). The board of directors said the proposal will place Reckon in... Show More