My friend, you are delusional if you think that the “gains” have come from dividends… for 20 (twenty !!!!) years ????? TWENTY YEARS without a capital gain ????? And yes, timing IS everything but if you are paying a fund manager to “manage” your investment, and they have just bumbled along without picking the right stocks, and then selling at the appropriate time, then you are a fund managers dream ! This last year has been an absolute dream for most fund managers with gains commonly between 20% and 30% ! I hold because WAM took over Westoz, who were performing well. @Pup is correct. An 11% gain last year is almost acceptable, a Minus 4% averaged over the last 3 years is more akin to mismanagement, rather than management. And that dividend ? They’re just paying you back you capital and your “gains” in the form of dividends ! Geoff earnt $60million in WAM dividends last year, but the difference between you and him, is that he’s also collecting management fees. I’m only a holder while I wait (not so patiently) for the Wilson LICs to increase in price, so I can sell and get a more reasonable, consistent and reliable investment that actually has capital that increases along with either the SP or unit price. Summary ? Over 5 years, WAM funds have been a serial underperformer. Old saying, Water the flowers and pull the weeds !
WAM Price at posting:
$1.51 Sentiment: None Disclosure: Held
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