Wilson and Cuffe backing the new Activists in town

Wilson and Cuffe backing the new Activists in town. Geoff Wilson of Wilson Asset Management and Chris Cuffe, the ex-head of Colonial First State have put their cash and names behind a new LIC. Cuffe and Wilson have plenty to occupy their time, so their backing of the Global Value Fund, to be listed in July, suggests they see a real opportunity. The fund will be managed by London-based Metage Capital, and will invest in global listed securities which are trading at a significant discount to break-up value - mostly underperforming LIC's. Metage then uses passive and active techniques to unlock value - for example - they wound-up the Macquarie International Infrastructure Fund back in 2012 after buying in at a big discount to NTA. Wilson says our shareholders were screaming out for global exposure, and we think this is a lower-risk way for them to access it.