Ann: Reinvestment of Management Fees by the Investment Manager, page-27

Re WIC and Dermot Woods , (remember him ?). He joined another small cap investment team (Precision Funds Management). (Get their free newsletter) who invest very much like WIC in the small to Microcap space who have been kicking good goals and performing well. They are probably too small and perhaps too risky for your investment style though. I haven’t put money with them for that exact reason. We too have a reasonable amount of cash on the sidelines, some of it will be to be in a SMSF because although I can’t contribute any more, my wife can, so I will withdraw with one hand, and she will contribute with the other. But as cash sitting on deposit ? That doesn’t feature prominently with my investment strategy. Even if it’s earning the cash rate with a Franking credit, IMHO, that’s better than cash. Each to our own….