Ann: August 2021 Investment Update, page-3

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tforrestr

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29/09/21

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Post #: 56439635
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Originally posted by edshann: ↑

From Affluence Funds Management:

WAM ALTERNATIVE ASSETS (WMA)

Unlike the previous two examples, WMA does not invest in listed equities. Instead, WMA owns alternative assets including water rights, private equity, agriculture and some real estate. This provides a different risk/reward profile and may help to diversify investment portfolios.WMA declared a dividend of 2 cents recently and stated they intend to copy that for the next dividend. Based on the 31 August NTA of $1.17 it reflects a 3.4% net dividend yield and 4.6% grossed up for franking credits. The closing share price was $1.03, with a 3.9% net yield and 5.2% grossed up for franking credits.At the end of August, WMA was trading at a 12% discount to NTA. Under the management agreement, if WMA does not trade at a premium to NTA at various time during the initial 5 year period, shareholders will have an opportunity to vote to wind up the LIC and return the proceeds to investors. This provides a clear catalyst for management to close the share price/NTA gap over the next few years, adding some potential further upside for investors.

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I follow Affluence's monthly commentary/ published holdings closely. I rate their analysis highly.

WMA Price at posting: $1.03 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 98.0¢		Change -0.005(0.51%)		Mkt cap ! $192.6M

Open	High	Low	Value	Volume
98.5¢	98.5¢	98.0¢	$357.6K	364.6K

Buyers (Bids)

No.	Vol.	Price($)
3	68423	97.5¢

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Price($)	Vol.	No.
98.0¢	21838	1

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No.	Vol.	Price($)
2	58000	0.980
3	68423	0.975
6	70351	0.970
10	53462	0.965
5	112703	0.960

Price($)	Vol.	No.
0.985	6641	4
0.990	11366	2
0.995	75183	4
1.000	346960	4
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Last trade - 12.31pm 22/07/2025 (20 minute delay)

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