On Thursday, property and funds management business Elanor Investors Group (ASX: ENN) announced it successfully completed an institutional placement to raise $30 million to establish a new commercial property fund and cornerstone a new retail real estate investment trust, which the company is preparing to list on the ASX. We own Elanor as a research driven investment in WAM Capital and WAM Research. We believe Elanor has a strong management team and have been long term supporters of the company. Shares in Elanor closed up 5% for the week.
Established in 1997 by Geoff Wilson, we are an independently owned investment manager based in Sydney. Today, Wilson Asset Management is comprised of ten investment professionals who offer a combined investment experience of almost 100 years.