Genworth - Lest we Forget

After the sell down by its US parent, Genworth (now Helia) saw a number of Australian funds managers join its share register.

Melbourne based funds manager Yarra Capital filed a substantial notice with the ASX citing they had taken a 7% holding in Genworth Australia (29.4 million shares purchased at $2.28 per share). They subsequently ceased to be a substantial holder at/around their entry price several weeks later.

Had Yarra held onto the shares, they would have recognised a capital gain of 80% on the share price, and would have received just under $1 per share of fully franked dividends.

All up, their Total Shareholder Return would have been 125% (or 140% grossed up).