Rob might not have a job when he comes back from holidays....
Street Talk
Geoff Wilson follows Saba Capital into VGI Partners LIC
Geoff Wilson is at it again, hunting for battered listed funds. But this time around, he seems to be taking cues from New York hedge fund Saba Capital.
Street Talk understands Wilson Asset Management was one of the buyers for a 14.4 million parcel of VGI Partners Global Investments crossed by stockbroker Taylor Collison at 2:05pm on Tuesday.
The line, worth about 4.2 per cent of the LIC, traded at $1.70 a share. That was a roughly 18 per cent discount to the underlying portfolio’s value.
While WAM would be way under the substantial mark, it would be interesting to see if it buys more. And if it exchanges notes with Saba Capital, which has several big-ticket fund manager fist fights under its belt and Arnold Bloch Leibler on its arm.
The VGI LIC – now owned by Regal Funds Management – holds a long/short portfolio of global stocks.
VG1 Price at posting:
$1.73 Sentiment: None Disclosure: Not Held
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