WAM Global IPO closes oversubscribed
The initial public offering (IPO) of WAM Global has closed oversubscribed ($466 million), exceeding its $330 million target, thanks to strong demand from existing investors.
Wilson Asset Management said it was the largest capital raising undertaken by the firm.
WAM and WAM Global’s chairman, Geoff Wilson, said the IPO attracted 12,855 investors, including more than 8,000 existing shareholders of WAM-listed investment companies.
“We look forward to providing WAM Global shareholders with exposure to a high-quality portfolio of undervalued international growth companies using our proven investment process, which has delivered solid risk-adjusted returns for more than 20 years,” he said.
AUTHOR
Oksana Patron
Recommended for you
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
Responsible investment performance concerns have lessened as the market hits $1.6 trillion in AUM, according to RIAA’s annual report, but greenwashing fears among asset managers are on the rise.
Research by Morningstar has found fixed income funds are bucking a general trend around managed fund fee dispersion with a smaller fee dispersion compared to equity ones.
As investors seek to diversify their portfolios, the naming of bond labels has broadened out to include green, social and impact bonds, according to the annual RIAA report.
