IIR is initiating coverage of WAM Microcap (ASX:WMI) a listed investment company that invests in a portfolio of ASX-listed micro cap stocks. The company is managed by Wilson Asset Management which uses its proven research process to select stocks for the portfolio. The Manager has an investment team with considerable experience and its proprietary market-driven and research driven investment approaches are used across all the portfolios it manages. The investment process has proven successful over the long-term, particularly in the small cap space. The WMI portfolio has performed well since listing in June 2017 allowing the LIC to pay dividends totalling six cents per share fully franked for FY2017. We have initiated on WMI with a Recommended Plus rating. Click on the link to view our full report.