Ann: Change in substantial holding for PAF, page-29

WoW today's lower price is certainly in line with how market is going but this shows that importance of having capital gain as one of the KPI for management for performance bonus.

If WAM had worked on capital gain share price would be around $3+ now (based on 2017 price of $2.40) and in that event with red market like this price would be lower but not as bad as it is now.

WAM had negative capital growth of 2.18% in last 5 years and price graph below clearly shows that while ASX200 going-up over last 5 year; the WAM is going down.

so don't be gullible to see 7% dividend as actually your capital is being diminished over the years & hence your effective return would be lower then what WAM is advertising if you have invested 2017.... IMO.... obviously only time will tell how it will perform in future but certainly it isn't kind for many investor who are running capital loss if they sell today (like me).