IPO Now Open: Watermark Global Leaders LIC
Morgans Financial Limited
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)
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Morgans is Australia's largest national full-service retail stockbroking and wealth management network with over 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices in all states and territories.
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