Ann: Register Date for AYS Bidder's Statement, page-71

Been an interesting few weeks for WAM shareholders.

Both WAM and to a lesser extent WAX face a franking credits problem not so much a profit reserve problem.

What Geoff Wilson has done is in the best interests of long term holders, even if the short term share price reflects otherwise.

Will definitely be following closely next week and looking at a buy in point for a long term hold.

Other than this acquisition strategy I wonder whether they can look to increase their churn rate on stocks, rather than long term holds. This can increase the tax the company has paid and in turn the franking credits available to shareholders.

One thing is for sure Geoff Wilson has a proven track record of performance and the premium of this stock remains justified in my opinion.