If Sandon maintain their role will ACL be continuing for some...

If Sandon maintain their role will ACL be continuing for some time to come as they unlock the full shareholder value within the company, or is full value just the Fonda monies?

{Activist investors target companies where they can engage with management and directors to unlock shareholder value. Not to be confused with old style green mailers or corporate raiders, activist investors will usually stay in their target companies for the longer term. As a general rule any outstanding financial, governance and strategic issues are tackled before agreed operational improvements are implemented.

Although well established in the US and now spreading to Europe and Japan, specialised listed activist investment companies have been largely non–existent in Australia.

Founded by **riel Radzyminski Sandon Capital Investments Limited (ASX: SNC) listed on the ASX late last year. Early shareholders include astute investors such as Rob Ferguson (Bentham IMF) and Geoff Wilson (Wilson Asset Management). One difficulty with buying into investment companies is that you’re essentially investing in the talents of the decision maker.
On this note, the following extract from The Australian Financial Review is interesting: “Geoff Wilson’s Wilson Asset Management is one of Sandon’s most enthusiastic supporters. Sandon has acted as an adviser and co-investor to Wilson in several situations, including Australian Infrastructure Fund, RHG Group, Alesco and Premium Investors. Mr Wilson said he intends to personally invest $1 million in Sandon.”
For further corroboration the unlisted Sandon Activist Capital Fund returned 14.3%pa over the period 2009 -2013.
Trading around 94c Sandon Capital is selling at net tangible asset backing and looks to have a rewarding future – however investors should be a little patient as Sandon will take as much time as is necessary to build the portfolio (13% invested so far).
Peter Andersen - March 6, 2014 }