Back to issue price, page-56

they bought out the Templeton shares but not their staff, analysts and fund managers.
the complaint people are making relate to people resources, not market cap.
I also don't think they have a big enough ( 3 people ) or experienced enough team to outperform in the massive field of international stock
markets. Nothing against Catriona Burns, but with only 2 supporting average - looking analysts she is going to struggle.
With Aussie small caps you can make a quick phone call to the CEO of Ooh Media, Lovisa or Bravura etc to organise a meeting
and get an update, and you are analysing maybe only 200 companies outside the ASX100.
Hence some Aussie small cap fund managers have a good track record of outperforming the market.
Not so easy sifting through the reports of many thousands of American and European companies, many of which probably have zero interest in speaking with an obscure ( in their eyes ) fund manager from 15,000 km away.
Where is their competitive advantage over other international fund managers or ETFs ?
I continue to hold WGB from the IPO but am increasingly thinking it was a mistake.