IPO Now Open: Watermark Global Leaders LIC

The initial public offering for the Watermark Global Leaders Fund (ASX:WGF) is now open. The Listed Investment Company (LIC) will provide investors with access to an actively managed portfolio of global equities in a market neutral stance. The fund aims to deliver consistent, positive rates of return through a market cycle with no correlation to the share market by taking both long/short positions. Justin Braitling, Chief Investment Officer at Watermark Funds says: “The short portfolio is a hedge which immunises the portfolio from outside forces – we are good short sellers, we have been doing it for a long time and we know how to put these hedges together that work.” Watermark currently manages two LIC’s (ASX:ALF and ASX:WMK) both of which trade at premiums to their NTA. Morgans is acting as joint lead manager for the offer, investors can register below to receive an information pack. (VIEW LINK)